Livestock insurance is a coverage for farmers which may cover cattle or other livestock in the event of illness or other accidents. Since your livestock represent a portion of your livelihood, having the right coverage for your farm is critical. There are several ways to include livestock insurance in your farm policy, which are covered below. Learn more or call a Nationwide agent at 1-800-255-9913 to discuss your farm's specific needs.
One way is to schedule each animal individually. Listing animals individually may be the right option if you have higher-valued animals you want to cover up to a specific dollar amount. They can be identified in whatever manner you use on your farm or ranch – ear tag number, name or unique description.
Another way is to cover your livestock as part of a blanket policy. With a blanket policy, all of your farm property (livestock, equipment, structures, etc.) are insured in one lump sum amount. If you’re using blanket insurance, it’s important to insure to adequate values. Being under-insured may result in receiving a lower claim payment than you need or expect.
The most common way to cover livestock is to insure them as a herd (for example, 100 head of Holstein cattle).
Many farmers and ranchers choose not to insure their animals. AgriChoice still provides coverage if your animals are struck by a vehicle or are accidentally shot by a hunter.
Know your options
The maximum amount payable per head is determined by your choice of insuring (individual, blanket or by herd). Understand the differences, and talk to your agent about what may work best for your operation.