Livestock Insurance
Livestock Insurance is purchased to cover herds of horses, cattle, pigs, sheep and more. Entire herds can be wiped out at a time by disease, fire, accidents, etc., and the farmer can be out a significant investment. Livestock can also be covered under a Farm & Ranch policy as Personal Property if they are declared in the policy, however, it can also be purchased separately. In order for a herd to be protected against illness and disease, the insured will need to purchase a comprehensive package that includes Animal Mortality Coverage. There are three basic ways to cover Livestock:
- Individual: This type of coverage is used to list animals of higher value individually on a policy. It is generally not used to cover a large number of animals.
- Herd: This covers a certain number of livestock in one herd - for instance 500 head of cattle.
- Blanket: This policy covers all of a farms assets under one policy, from equipment to structures to herds of animals.