What Mississippi Farmers Should Know about Agricultural Insurance
Consult The Nowell Agency, Inc. for the best agricultural insurance
Agriculture is a primary mainstay of many economies around the globe, and it’s been a long-standing tradition in the U.S. Agriculture is the key to quality food production and an important piece of our economy. Farming is a notoriously risky business thanks to adverse weather, pest infestations, and the spread of disease. Add to that the financial risk of falling crop prices, rising cost for equipment and supplies, and rising transportation costs and you’ve got a relatively volatile – if still very critical – industry.
If you are part of this volatile and risky industry, there is a wide range of agricultural insurance products available to protect you and your farming business.
At The Nowell Agency, Inc. we can help those who work in agriculture protect their assets, equipment, and more from the risks relative to the industry. Call 601.992.4444 or request a quote online for agriculture insurance.
What Types of Coverage Fall Under Agricultural Insurance?
Although agricultural insurance has been offered by industrialized countries for over a century, many businesses in the agricultural sector don’t get an agricultural insurance program customized to their needs. Agricultural insurance typically includes coverage like the following:
- Liability coverage – a form of protection against the losses and thefts that can occur on a farm and when using agricultural equipment. Equipment damage, worker injuries, and structural damage are concerns on a farm and there is coverage available to address those concerns.
- Specialized coverage – designed to protect high value items like race horses or prized breeding animals that represent a significant investment and value to the agribusiness.
- Farm equipment coverage – this is specific to protecting the equipment from damage including accidents, lightning, fire, and more. A farmer’s equipment is the key to their livelihood and this coverage is, therefore, important to those in agriculture.
- Crop insurance – a form of protection designed to shield farmers from the economic damage that can be wrought from circumstances like radical decline in crop prices, to an inability to plant due to an ongoing drought, to unexpected weather disasters.
In the past, farmers had few options to keep them out of bankruptcy when the weather or other catastrophes struck. Working with an experienced agricultural insurance agent can ease the risk of farming and help protect farmers from unexpected financial losses.
The Nowell Agency, Inc. has been in the insurance business in Mississippi for nearly three decades. We provide a wide range of products for agricultural insurance, life insurance, business insurance, commercial marine insurance, personal insurance, and risk management products to the individuals and companies of Mississippi as well as the southeastern U.S.
Contact us to consult an experienced and knowledgeable broker and get competitive quotes for agricultural insurance.