From dairy cows to sheep to hogs to goats, a myriad of livestock can be found on farms throughout Indiana. Livestock and livestock production are an integral and vital part of Indiana agriculture, and because of this, Indiana Farm Bureau Insurance supports livestock farmers by offering products and services to protect their animals.
Since livestock is considered a vital part of a farming business, it is insured as part of the farm's personal property. Cattle, horses, mules, donkeys, hogs, sheep, goats, llamas, alpacas, buffalo, elk, deer, ostrich and emu are all considered livestock by Indiana Farm Bureau Insurance. Livestock can be covered on the Rural Guardian Farmowners Policy under the Farm Personal Property Blanket or scheduled under Farm Personal Property. There are advantages and disadvantages to insuring livestock either way and it is important to understand your options.
The Farm Personal Property Blanket allows you to insure groups or the entire herd of animals without specifically identifying each individual animal, but coverage is limited at the time of loss for each animal, these limits are:
$2,500 on any one head of cattle, horse, buffalo, elk, ostrich or emu
$1,000 on any one head of mule, donkey, llama, deer or alpaca
$500 on any one head of swine, sheep or goats
The advantage to scheduling livestock on the Farm Personal Property Blanket is that animals can be insured for higher amounts to fit your specific needs, but each animal has to be identified with a specific coverage amount.
What does livestock insurance cover?
Livestock insured on the Rural Guardian Policy is covered from the basic perils of fire, lightning, windstorm or hail, explosion, riot or civil commotion, smoke, vandalism, theft, aircraft and vehicles. Livestock may also be susceptible to additional hazards, which Indiana Farm Bureau Insurance provides coverage for, such as electrocution, drowning, accidental shooting, collapse of buildings or structures, attack by wild animals or dogs, or freezing in blizzards and snowstorms.
Livestock farmers also face risks in changing market conditions and volatile feed costs. By taking advantage of the USDA’s Risk Management Agency, Indiana Farm Bureau Insurance is able to provide coverage to protect livestock producers’ bottom line.
Indiana Farm Bureau Insurance offers both Livestock Gross Margin and Livestock Risk Protection policies. The Livestock Gross Margin (LGM) insurance policy provides protection against the loss of gross margin (market value of the livestock minus feed cost) for cattle and swine. The Livestock Risk Protection (LRP) insurance policy is designed to insure against declining market prices. Cattle, hogs and lambs are eligible for the LRP policy.
Indiana Farm Bureau Insurance recognizes the importance of youth raising livestock and therefore has developed the 4-H Club Member Livestock Endorsement. The 4-H Club Member Livestock Endorsement provides coverage to 4-H members’ cattle, hogs, sheep, horses or goats that are enrolled in a county 4-H program from direct physical loss, except where excluded.
Another way Indiana Farm Bureau Insurance supports livestock farmers is by offering a 5% discount on the Rural Guardian Policy for producers that are part of the Indiana Certified Livestock Producer Program (CLPP). The CLPP recognizes those livestock producers that go above and beyond in the areas of caring for the environment, animal care, biosecurity, emergency planning and community relations.
Indiana Farm Bureau Insurance is one of the only insurance providers in Indiana that recognizes the dedication of these livestock producers and gladly supports their achievement of completing the CLPP. More information and how to become certified can be found at Certified Livestock Producer Program.
What livestock insurance doesn’t cover
The basic Rural Guardian Policy does not provide coverage for hauling owned livestock, or for 50 miles beyond the border of the state, but if you add applicable endorsements these risks can be covered. This policy excludes losses to livestock that die by old age, disease or natural causes. Remember, certain restrictions may apply, for specific coverage needs or questions, contact your local Indiana Farm Bureau Insurance agent today.
How to purchase livestock insurance at Indiana Farm Bureau Insurance
Indiana Farm Bureau Insurance has agents in every county and a team of farm experts that will work with you to help determine which coverages will meet your livestock coverage needs. Start the process with a free farm insurance quote online, or contact a local insurance agent today!