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Someone who lives in a rural area has different needs when it comes to insuring property. For this reason, property insurance for rural areas can be very different from what insurance companies offer in urban or suburban areas. Rural property insurance can be especially beneficial for farmers and ranchers, who have needs different from what a normal homeowner might have. Such property insurance may cover farmers' and ranchers' homes, barns, sheds, lawn property, fences, machinery and agricultural equipment. Property insurance can protect all of these things from fire, flood, high winds, theft, vandalism, earthquake and other causes of loss.
Crop and Livestock Insurance
Farmers often have their entire financial future dependent upon their ability to successfully plant, grow and gather their crops. A flood that destroys an entire crop of corn or a disease that kills large numbers of cattle can be financially devastating for a farmer or rancher. For this reason, insurance companies provide protection for people in the agricultural industry by offering them crop and livestock insurance. If such a disaster occurs, insurance companies will help policy holders to recover by compensating them for their losses. However, in order to obtain such insurance, farmers and ranchers
may have to take certain measures to decrease risk such as constructing flood walls or regularly vaccinating their livestock against disease.
Farm Liability Insurance
If someone comes onto a farmer's land and suffers from an accident that results in injury or death, the law may hold the farmer financially liable -- even if the injured individual was not supposed to be there at all. For this reason, insurance companies offer farm liability insurance to protect farmers and other people in rural areas from the crippling financial damages that can come from a lawsuit. Insurance companies help in these cases by providing funds to pay the plaintiff as well as by paying for legal counsel to defend the property owner's interest and present evidence that he was not at fault.
Workers' Compensation Insurance
It is very common for farmers and ranchers to require the help of laborers to work livestock or gather crops. However, this can sometimes be dangerous work. For this reason, insurance companies offer workers' compensation insurance to cover injuries that occur on the job. Companies that provide rural insurance may offer rates specific to workers for agricultural industries. Some states actually require farmers and ranchers to obtain such insurance for their employees.