Insurance Solutions for High Livestock Mortality Rates

Posted May 18, 2017 by Administrator in Agribusiness, Risk Management | 0 comments

Raising livestock and poultry is a risky business. That is why farmers need adequate insurance to cover their animals from unexpected events. Farmers have a variety of options available to them when it comes to farm animal insurance. They can opt for customized coverage for the specific types of animals they raise or combine several different policies.

Fundamentals of Livestock Insurance

Farmers can often combine their livestock coverage into their overall farm package. This way, they can have adequate protection for their buildings, livestock, and poultry in the event of a death due to accident or injury. Some policies cover animal deaths due to illness as well, but this is specialized coverage.

Farmers can use the following methods to insure their animals:

  • Herd Coverage: This is the most basic and common coverage. Farmers use this type of insurance to cover a precise number of animals.
  • Blanket Coverage: This type of policy insures all farm property. It includes buildings, livestock, equipment, and so on.
  • Individual Coverage: This policy covers animals with higher worth. The policy explicitly states which animals are covered. The corresponding animals often have an identifying feature such as an ear tag.

Farmers can also purchase insurance unique to their livestock. Some examples include:

  • Cattle insurance
  • Pig insurance
  • Poultry insurance

Farm insurance packages often cover animals such as sheep and goats, so farmers do not need specific policies for these animals.

Farmers invest a lot of time and money into their animals. For many farmers, their livestock is their livelihood so they cannot afford to neglect insurance. To learn more about insuring livestock, contact the experts at Cline Wood.


This document is not intended to be taken as advice regarding any individual situation and should not be relied upon as such. Marsh & McLennan Agency LLC shall have no obligation to update this publication and shall have no liability to you or any other party arising out of this publication or any matter contained herein. Any statements concerning actuarial, tax, accounting or legal matters are based solely on our experience as consultants and are not to be relied upon as actuarial, accounting, tax or legal advice, for which you should consult your own professional advisors. Any modeling analytics or projections are subject to inherent uncertainty and the analysis could be materially affective if any underlying assumptions, conditions, information or factors are inaccurate or incomplete or should change.

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