When we discuss residential insurance there are three main areas of property. These are the Dwelling, Detached Private Property and Personal Property.
A farm residence is covered in the same way as an “in town” residential dwelling, providing Dwelling, Personal Property and Detached Private Structures coverage.
It is important to remember that farms have other business assets that require protection also. These include:
A commercial business will want to insure those items that they own or for which they are legally obligated to insure. These might include buildings and contents, stock and equipment. The items may stay strictly at a listed location or may float from job site to job site. Having a good understanding of what the business owns and does will be the starting point for determining what property needs to be insured.
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