What to Know About Commercial Farm Truck Insurance

When you think of farming, images of a large tractor and trailer plowing through the fields come to mind. However, the reality is that modern-day commercial farms are often faced with more difficult circumstances than their historical counterparts. They must contend with more stringent regulations, expensive equipment, and challenging terrain. Unfortunately, these factors have resulted in an insurance market for agricultural businesses that is expensive and inefficient. If you operate a farm, ranch, poultry operation, greenhouse business, or any other small-scale agriculture venture, then you need to get your commercial farm truck insurance immediately. Before you contact an insurance broker or agent, be sure to read on to learn everything you need to know about this important topic.

What is Commercial Farm Truck Insurance?

Most car, homeowners, and auto insurance policies cover properties, damages, and contents within a certain radius of the insured location. However, they do not cover the contents of a farm truck. That is unless you buy additional coverage for the truck itself. The purpose of commercial farm truck insurance is to protect your property and assets when you operate a commercial farm. It does not protect your people or the operation itself.

What Does Commercial Farm Truck Insurance Cover?

When you purchase farm truck insurance, you’ll likely be given three main coverage groups to choose from. The first is general liability. This group protects both you and other parties involved in the delivery of your goods. The second is a liability for damages to your goods. This coverage includes things like damage caused by defects in the goods or failure to deliver items as agreed. The final group is an assortment of extra covers that are intended to protect your business if something unexpected happens. For example, you might add medical payment coverage to protect you and your staff if a patient gets sick. Some policies also include a fourth coverage group that protects your business if something goes wrong with your equipment. This coverage is usually limited and short-term in nature.

4 Types of Farm Truck Insurance

There are many types of farm truck insurance, but here are the four most common:

Bodily injury coverage – This is the most important and covers the most ground. It protects you and anyone who is riding in or operating the truck. This coverage does not cover the damage caused by animals.

Property damage coverage – This coverage protects your assets, like machinery and buildings, when you’re not operating the truck. It does not cover the actual value of the assets but rather the cost of getting them back in working order if they are damaged.

Liability coverage – This protects you and other parties involved in the delivery of goods. It also covers the return of goods that you have agreed to deliver.

Visibility coverage – This protects your assets, like machinery and buildings, from public view. It only covers the items if they are visible from the location you currently operate from.

How to Buy Commercial Farm Truck Insurance?

The first and most important thing you must do is find a broker or agent that you trust. You can check out our list of recommended insurance brokers here. Next, you’ll want to research different types of farm truck insurance and create a budget. Here are some helpful tips: Keep in mind that the higher your deductible, the lower your premium.

You can expect to pay about the same amount for the most expensive type of insurance as you would for the cheapest. Don’t let price dictate your insurance options. You can always find cheaper deals on the internet or by calling your local broker. Shop around. You can save by comparing rates from different brokers and by visiting different dealers. Just make sure to ask about their customer service policies, as some may charge more for certain features than others.

The Importance of Farm Truck Insurance

Farm trucks are a key part of the agricultural industry. The combination of a large, heavy machine and a small, mobile workforce makes these types of vehicles hard to cover in an efficient manner. For example, if you own a poultry farm, then a tornado or severe weather event could threaten your operation.

In such an instance, you are faced with stray objects and serious structural damage to your barn or poultry house. Contrary to popular belief, it’s not necessary to be able to pay for expensive commercial truck coverage. You can get by with basic commercial accident and liability coverage for a fraction of the price.

Why do you need Commercial Farm Truck Insurance?

If you operate a farm, ranch, poultry operation, greenhouse business, or any other small-scale agriculture venture, then you need to get your commercial farm truck insurance immediately. Before you contact an insurance broker or agent, be sure to read on to learn everything you need to know about this important topic. When you think of farming, images of a large tractor and trailer plowing through the fields come to mind. However, the reality is that modern-day commercial farms are often faced with more difficult circumstances than their historical equivalents.

They must contend with more stringent regulations, expensive equipment, and challenging terrain. Unfortunately, these factors have resulted in an insurance market for agricultural businesses that is expensive and inefficient. If you operate a farm, ranch, poultry operation, greenhouse business, or any other small-scale agriculture venture, then you need to get your commercial farm truck insurance immediately. Before you contact an insurance broker or agent, be sure to read on to learn everything you need to know about this important topic.

Disadvantages of not buying Farm Truck Insurance

There are a few disadvantages to not buying commercial truck insurance. First, you’ll need to bear the cost of the insurance on your own. This can be expensive. The average cost of commercial truck insurance is about $2,200 per year. If something happened to your equipment, you could only get money for the actual cost of the item, or it could be excluded from the total. Finally, if you choose to buy commercial farm truck insurance, you’ll need to keep on top of any changes that may occur in the insurance sector. The industry is constantly changing and improving, so you’ll likely want to shop around for the best deal on occasion.

Conclusion

Thankfully, there are a number of factors that you can consider to make your insurance premiums more affordable, whether you choose to insure your farm trucks with Progressive or with another provider. With the right preparation and a comprehensive understanding of all available options, you can find the right policy to meet your needs.

FAQs

Q1. What qualifies as a farm truck in PA?

Ans. It means your farm truck can only be used on farms.

Q2. Can you drive a farm truck without a license in PA?

Ans. CDL requirements do not apply to drivers of vehicles or combinations until the actual weight or weight rating of the vehicle or combination is greater than 26,000 pounds.

Q3. How long can you depreciate a farm truck?

Ans. From 3 to 25 years, it can depreciate a lot.

Q4. What does truck farming mean?

Ans. Truck farming means that the truck which is used in the farms.

Q5. Do farm vehicles need to be taxed?

Ans. It cannot be taxed because it is not registered on SORN.