Nearly one quarter of the labor force in the United States works in the agribusiness industry. Agribusinesses range from family owned food manufacturing companies to large corporations, and owners may serve in management positions, perform agricultural analysis, or provide traditional farming services. Those in the agribusiness might also work in chemical, fertilizer, or seed sales, manage food manufacturing companies, or running grain trading operations or elevators. For food safety organization owners, along with owners of industrial development companies, or those who operate a commodity trading, farming, and ranching business, quality commercial agribusiness insurance coverage can allow their organization to retain its assets, and continue to function, if faced with an unexpected loss, accident, or claim. A licensed independent business insurance agent can help farmers, ranchers, and owners of other agribusinesses secure the right commercial insurance policy.
To assess the options for commercial insurance coverage suited to a particular agribusiness, an experienced independent insurance agent will probably want to meet with a company’s owner. In the course of such a meeting, an independent insurance professional may want to discuss a business’s annual receipts and income, along with specifics about its operations, including how long the current owner has run the agribusiness, the kinds of goods or services provided to consumers or clients, and the number of employees working for a company at a given time. An agent might also want to know about the prior industry experience of workers, about safety training procedures provided by a business, and whether an organization plans to expand its workforce.
Depending on the particular kind of agribusiness, an independent insurance professional will want to know if a company performs any manufacturing processes, and if so, she will want to discuss whether manufacturing takes place at more than one location. If an operation is a farm or ranch, she may inquire as to whether an owner has purchased barn insurance. She might also suggest business property insurance, workers’ compensation coverage, and commercial auto and fleet insurance, subject to the needs of a specific agribusiness.
Besides meeting with an agribusiness owner, a seasoned independent insurance agent may request to visit a business’s facilities, whether located in a factory, large-scale farm, or traditional office space. She may inquire about the age of a company’s building, and whether systems like plumbing, heating, and roofing within the premises have been recently updated or serviced. She might also want to know about whether a business has security and fire alarm systems in place, and if livestock are on site, she will probably ask about how they are cared for by workers, and how the animals can be evacuated in the event of an emergency. An independent agent might also want to know about whether an agribusiness operates on a seasonal basis, and if its facilities are accessible by automobiles all year-round.
To advise an agribusiness as to sufficient commercial insurance coverage, an independent insurance agent will also ask about whether a company might request to add a railroad, the Environmental Protection Agency, or a branch of the federal government as an additional insured under a policy, and she may want to know if the business has had a foreclosure on its property within the past three years, which could impact coverage. For farming and ranching operations, especially, she might also want to determine whether a claim against an agribusiness could be subject to American Indian tribal court jurisdiction.
A local independent business insurance agent will review options for commercial insurance policies from a number of different insurance companies to determine the coverage that fits the requirements of a unique agribusiness. She can discuss coverage limits, premiums, and other questions or concerns that arise in the course of recommending insurance to a ranch, farm, or other agribusiness owner. With commercial agribusiness insurance through a trusted independent insurance agent, these owners know that in case of liability exposure, or a financial loss, their agricultural operation can remain protected.
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