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  • P.O. Box 276
  • Tyndall, SD 57066
  • (605) 589-3572


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  • P.O. Box 206
  • Tabor, SD 57063
  • (605) 463-2558


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  • P.O. Box 609
  • Springfield, SD 57062
  • (605) 589-3572


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  • Ste. 103
  • Yankton, SD 57078
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  • (605) 213-3572

Farm Insurance Policies

Frequently Asked Questions on Farming Insurance

How Does Farm Insurance Work?

Insurance agents will want to determine whether the rural dwelling on the property is a home or a ranch. It's an important distinction, as there can be substantial differences in coverage. For example, a standard homeowners policy covers fencing, as well as the contents of ancillary buildings such as a tool shed.

A ranch policy does not cover either unless they are specifically scheduled. A farm insurance policy combines the standard coverage offered by a personal homeowners policy with commercial property and liability coverage.

What Is Coverage Like for Farm Insurance Policy?

The benefit of a farm policy is that it can be customized to the needs of the insured. It's important to determine whether or not your land qualifies as a farm. There are many hobby farms, smaller farm operations, and retirees. The insurance company will want to know what you produce, in what quantity, and for what profit.

The standard farm policy is a hybrid of homeowners coverage, commercial business insurance and specialty insurance. If the farm is a going commercial concem, the owner will want a basic farm policy providing the following basic coverages:

  • Property Coverage - This coverage protects your home, outbuildings, belongings and some equipment in the event of loss, such as a fire or tomado.
  • Farm Liability Coverage - This coverage will cover a loss unintentionally caused by you or your employees to another's property or person.
  • Medical Payments - This coverage will provide payments for medical bills sustained by someone injured on your property.
  • Additional Living Expenses - If you must relocate from your home due to damage caused by a covered event, then this coverage provides for the cost of things like temporary housing or a hotel stay.

The basic coverage can be modified by endorsements. Some endorsements add to the cost of the basic policy. You must speak with your insurance professional and have a solid understanding of what is covered by the basic policy and then consider endorsements that may be applicable to your situation.

Some additional coverages may include:

  • Coverage on outbuildings (barn, machine shed, etc.)
  • Blanket coverage for you farm machinery, livestock, hay, grain and other farm items.
  • Irrigation systems.
  • Equipment breakdown coverage.
  • Farm trucks and autos.
  • There are many more endorsements. Theses are just a few of the more important coverages.

Get a Farm Insurance Quote from Koch Insurance

To see how our farm insurance policies can help your ranch be secure, please contact us for a free quote. Koch Insurance agencies are located throughout South Dakota, with office locations in Tea, Tyndall, Tabor, Springfield, and Yankton. We'll provide you with all the information you need to make an informed decision on your farming safety.

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