As an individual, you carry insurance to protect against loss that may be incurred for one of several reasons. You insure your home in the event of a catastrophe like a fire or burglary. You insure your car to protect yourself against the loss of property due to an auto accident. This is in addition to the insurance that will cover any liabilities you incur if the accident is deemed to be your fault.
As a business owner, you carry insurance to cover the loss of assets, and you may even carry professional liability insurance, depending on your profession. If you are a farmer, covering your livestock is the equivalent of business insurance that owners and operators carry. The loss of livestock is the loss of your livelihood. So why would you not cover the potential loss with a good insurance policy. Companies like the Ark Agency can set you up with a livestock mortality insurance policy that will give you the peace of mind in knowing that your source of income is protected should the unexpected happen.
Livestock such as cattle, sheep, goats and hogs can usually be insured. You can get coverage with either a full mortality and theft policy or a limited mortality insurance policy. A full policy will cover the death of an animal that is caused or made necessary by natural as well as accidental causes. Coverage applies while the animal is in either the continental United States or Canada. These policies also cover theft. Animals must be in good health and under a certain age to qualify.
Animals that do not qualify for coverage under a full mortality policy may qualify for a limited mortality policy. These policies cover the loss if the animal’s death was caused by one of several listed perils. Examples of these perils include things like lightning, fire, storms, and traffic accidents occurring while the animal is in transit. These policies may also include electrocution, being struck by falling buildings, attacks by wild animals and theft. When theft is involved, it may not be necessary to prove the animal has died, only that it was stolen.
If your source of income depends on the welfare of your livestock, you might want to look into a policy that is customized for your particular needs. Just like with any other business, it only makes good sense to be covered in the event of an unexpected loss.