Your farm equipment is crucial to the success of your farming operation and can represent a substantial investment. Damage to your equipment can result in severe financial consequences. Farm equipment insurance can provide appropriate coverage to help protect your farm from the economic effects of damage-causing accidents and incidents. 

Contact Garrison Agency in Guymon, Oklahoma, to get personalized quotes for farm equipment insurance.  

What Is Farm Equipment Insurance? 
Your farm equipment insurance coverage can protect you against accidents and perils, such as fire, hail, smoke, collision, theft, vandalism and lightning. If you or one of your employees causes an accident while operating your farm machinery, the liability portion of your farm insurance policy may help cover third-party accident-related medical expenses and property damage. 

Farm equipment insurance may help cover a broad range of farm equipment, including the following:  

• Tools
• Irrigation equipment
• Field equipment
• Farm office equipment
• Wagons
• Hay rakes
• Planters
• Sprayers
• Combines
• Tractors
• Forage harvesters 

Your coverage options are not limited to these items. Consult your insurance agent to find out what farm equipment is insurable and what equipment might have to be scheduled. Ask your insurance provider today if you need more coverage for your advanced technological equipment. Some policies will not cover technical malfunctions, so it is essential to have extensions to your policy to ensure adequate coverage.  

Do I Need Farm Equipment Insurance? 
Farm equipment insurance should be strongly considered if you own or lease farm equipment. Additionally, a lender or lessor may require it and certain liability insurance laws may impact your needs, depending on the type of equipment and how it is used.  

Farm equipment insurance can help protect your investments and financial assets by serving as a financial safeguard if the equipment is damaged, causes property damage or injures someone. Farm equipment insurance may help your operation recover and continue farming without significant financial losses. 

Types of Farm Equipment Insurance 
Depending on your policy, your farm equipment insurance may include blanket or individual coverage. If blanket coverage is selected, damage to all items is insured up to a certain dollar amount. If insured individually, each piece is covered with a separate value. Farm equipment insurance typically protects against both liability and property damage. 

Standard farm equipment coverage usually only insures items for their cash value at the time of the loss. If you want more compensation, you may be able to increase your benefits to replacement cost coverage. Deductibles typically apply to both types of coverage, and any claim that falls below the deductible is generally not covered. 

Contact Us 
Garrison Agency in Guymon, Oklahoma, offers customized farm equipment insurance policies to meet your unique needs. Our agents can help you build a policy that suits your budget and provides comprehensive coverage for your farming operations. Contact us today to learn more.