This may not be specifically Agribusiness or farm but I wanted do something for the season and holiday. A holiday where we should be saying Thank You for all the things we have been given through the year and throughout our lives. We sometimes get stuck looking at the items that fustrate us or have been taken away and we forget to be thankful for what we still have and the good things that continue to grow.
I love Thanksgiving Day! A time when family, and sometimes friends, get together to eat a big meal, and enjoy Grandma’s amazing deserts. Thanksgiving in the past few years has been a shared holiday, one year my mom hosts it and another year my sister-in-law hosts it. No matter where the feast takes place, you find family coming together to celebrate. As I sit at the dining table and look down the long table, that can sometimes sit 10-20 family members big and small, I see smiling faces and lots of conversation.
We say a prayer before we eat, saying thank you for family that could be there and those that couldn’t make it, saying thanks for the food sitting before us and the health we all have. These are all things we should try to remember to be thankful for everyday. But we get lost in our chores, frustrations, worry, and stresses that we forget they are blessings. There are bright parts to our days, weeks, months, years and life and we should remember to say thank you and appreciate those things everyday!
So to all of you, thank you, for taking the time to visit my blog, asking me about insurance, getting a quote, and working in an industry that pushes those involved in it to their maxes sometimes, but you still do it! Thank you for providing us with food, drink, work, passion, and understanding that though the world may look down on you at times, you know you provide for others day in and day out.
The saying, “hard times” is not new to farmers or the agribusiness world in general and when hard times come, farmers have a lot of hard choices to make. Animals, employees, family, neighboring farmers, and the community are all aspects they must consider when making the choice to pay one bill or another, to continue operations or to sell. Farmers feel a lot of responsibility when each decision is considered and made.
There is one bill in my opinion (and I may be biased) that should always be paid, and that is the insurance bill. Most people will decide it’s a risk they are willing to take to not have the coverage, but from an insurance agent’s standpoint, it’s not worth it. Farms have too many risks to consider from a business perspective and a personal one to go without insurance.
Hard times can become even harder if a dairy farm accidentally contaminates a truck load of milk and it must be dumped. The farmer isn’t just on the hook for his own milk (losing his revenue), but if other farms had milk in that tanker, that farmer is also responsible for making sure those other farms are compensated. Insurance will cover the payments to the other farms, and if you have a good policy it will cover yours too. Without insurance, this situation could result in a large bill or a paycheck to go without, especially if you are already living pay-to-pay. Another situation a dairy farm might face is loss of electricity due to lightning or a storm. If the farm doesn’t have a generator, they may have to dump a full milk tank. A good insurance policy will cover the loss of milk, so the farmer doesn’t go without a paycheck.
Fire is always a good example (even though most farmers think “the chance of that is small”) of a loss that poses a risk to everyone. If you’re facing an already tight budget, you likely do not have the funds up front to cover fire expenses. Fires can be devastating, destroying full buildings, livestock, equipment, or crops stored inside, and flames may even jump to other buildings if they are close enough.
Farms face risks on the personal side of the farm as well. Farm insurance covers the farm operations and personal happenings, similar to what a homeowner’s policy covers. If someone comes onto the property and is injured, you as the property owner could be responsible for their medical care. Medical bills are not cheap, and costs are not getting any less. This type of loss is one that your policy will most likely cover.
As an insurance agent, we see claims constantly and with the costs that they incur, please consider what we tell you as experience and not just our way of selling you more insurance, or to get you to pay your insurance. It’s not the case, we see so much and hear even more from other agents. We explain the coverages and give you examples so you can see that the $500 coverage is worth it compared to the $500,000 loss that could happen and leave you on the hook. Even in “hard times” your insurance, though you may see it as another bill, is a bill that costs you far less than if you didn’t have it at all and could be forced to pay for large damages out of pocket. Insurance can be the difference between making it through the hard times or having to close your doors.
By: Samantha Brensinger