In a developing world where population growth is rapidly consuming more animal protein – an increase of as much as two-thirds by 2050, according to a United Nations’ Food and Agriculture Organization study in 2011 – poultry farming has become even more popular than it was in the past. The following are a few facts about Mississippi’s budding poultry farming industry:
- Mississippi’s poultry exports in 2010 were valued at more than $314 million.
- The Mississippi poultry industry employs more than 28,000 people directly and another 27,000 indirectly – in other words, poultry creates jobs.
- The economic impact of the Mississippi poultry industry was nearly $3 billion in 2010 and is growing.
- Mississippi chickens alone consume an average of 9 billion pounds of feed every year – a number that’s growing as more poultry farms are started.
Whether a farmer inherited their farm or built their poultry farming operation from the ground up, insuring the farm from a variety of risks and exposures is critical – especially because poultry farms typically run on lean budgets.
Call The Nowell Agency Inc. at 601.992.4444 for more information about poultry farm insurance or request a quote online.
Poultry Farm Insurance – Necessary Coverage for Poultry Farming Risks
The risks faced by poultry farmers are similar to other types of farming but there are also risks unique to the business of poultry farming. Below is the type of coverage that is considered necessary for poultry farms:
- General liability to protect you in case a release to market causes someone to become sick or die. In this instance, you could be sued for hundreds of thousands of dollars, lose your reputation, and even your poultry farm. Even if you implement the safest health practices to eliminate bacteria and pathogens from your processes, general liability coverage is necessary to protect you from damage awards and legal costs.
- Business protection for the property, the chickens, vehicles, storage facilities, grain silos and other structures on your property. Poultry farm insurance can protect you from huge financial losses due to a wide variety of perils including wind, theft, fire, and more. If disaster strikes, you’ll have the money you need to keep your agribusiness afloat, replace structures that are damaged or destroyed, and buy new chickens.
Poultry farmers will benefit from thinking broadly about their potential risks which may include things like accidental environmental contamination. If the waste from your birds, for example, accidentally ends up in a local water source, the county or state government could hold you liable for damages and charge you with cleaning up the spill – a cleanup that could easily cost you hundreds of thousands of dollars.
Consult your local team of poultry farm insurance experts at The Nowell Agency Inc. and request a quote online. Or call us at 601.992.4444 to discuss your insurance needs and the options available to you when choosing Mississippi poultry farm insurance plans.