Livestock insurance is a valuable coverage that is specifically designed for the needs of companies and individual livestock owners.
A livestock insurance policy can cover the loss of livestock, as well as high value animals. Fire, hail, and electric shock are just some of the causes of loss that are covered with a comprehensive livestock insurance policy. Policies can also provide add-ons for veterinary coverage, as well as loss of use, and more.
Most livestock insurance policies cover livestock such as cattle, bison, hogs, goats, sheep, donkeys, or llamas. Other animals, such as poultry, or horses can also be covered.
Read on to see some different policy options for insuring high-value animals or livestock.
High-Value Animal Coverage
This insurance provides coverage on a per-animal basis, and can include animals such as show or breeding animals. This may be the right option if you have high-value animals you want to insure for a higher amount. This insurance can cover veterinary costs, as well as loss of use, theft, and death.
With a blanket policy, all of your farm property including livestock and equipment are insured in a lump sum amount. If you are considering a blanket policy, make sure you take out enough coverage, to avoid a potentially lower than expected claim payout.
This is the most common way of insuring livestock, especially if you have a herd of 100 head or more. This coverage can include feedlots, pastures, and dairy cattle, and can extend to provide coverage for loss due to peril, drowning, building collapse, vandalism, or smothering due to a blizzard. Talk with your insurer to find out more about herd coverage options.
If you choose not to insure your livestock, you may be able to obtain an uninsured livestock policy, which provides coverage if your animal is accidentally shot by a hunter, or struck by a vehicle.
You can also purchase additional layers of coverage against other various perils and causes of loss. Many times, disease is not included in livestock insurance policies, but it can often be purchased separately Be sure to talk with your agent about additional coverage.
There are different ways to insure your livestock, depending on the quantity of livestock, your facility, and their value.
Be sure to talk with Texas Outdoor Insurance to find out more about different coverage options, and let us help you find a policy that best suits your needs. (877) 952-1010.