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The Many Hats of a Business Owner As the saying goes, a business owner has to wear many hats. After you've owned a business for a while, you really come to understand how true this is. Even if you have employees who do a lot of your day-to-day marketing, ordering, and accounting, the responsibility for these tasks is ultimately your own. If you are starting to feel overwhelmed with the many hats you're required to wear, you have stumbled upon a good resource. We created this website to share knowledge about all of those hats — all of those roles you have to play as a business person. Start reading, and you'll not only gain helpful advice, but also realize that you're not alone.



Three Myths About Farm Insurance And The Truth Surrounding These Myths

If you own a farm, farm insurance is something that you should have. Unfortunately, though, there are many myths floating around out there that cause people to think that they do not need farm insurance or that it may not be beneficial to them. Here are three fairly common myths related to farm insurance, also referred to as crop and livestock insurance, that you should know, as well as the truth surrounding each of these myths. 

Myth 1: Your Homeowners Insurance Covers Your Farm

One of the biggest misconceptions out there is that your homeowners insurance covers your farm if your home is located on your farm. Most home insurance policies will not cover commercial ventures that take place on your property. This means, that unless farming is a hobby for you and you do not make any money off of your farm, your homeowners insurance likely does not cover your farm. If you profit from your farm, you will need commercial farm insurance. 

Myth 2: Every Farm Insurance Policy Covers Every Aspect of Your Farm

Another common myth surrounding farm insurance is that every farm insurance policy covers every aspect of your farm. Farm insurance is like commercial business insurance. Your policy may need many endorsements or add-ons to ensure everything on your farm is covered. There are endorsements for land, crops, livestock, machinery, farming equipment, farming vehicles, and farming buildings, such as barns and silos. Each policy needs to be tailored to the specifics of your farm to ensure every aspect of your farm is covered under your policy. 

Myth 3: Federal Disaster Assistance Is Better Than Farm Insurance

The final myth about farm insurance is that you do not need farm insurance, as federal disaster assistance provides better coverage than farm insurance. In many cases, if there is a federal disaster, such as a flood or fire, the federal government will step in and offer money for lost crops and damaged land. However, not every issue you may encounter will be a federal disaster. Also, the money that is provided in federal disaster aid is typically less than your insurance company will pay out to you. As such, it is beneficial to ensure you are covered with farm insurance. 

Farm insurance can help to cover many elements that make up your farm, including the land you farm on, your crops, the livestock that is on your farm, your farming equipment and machinery, and the buildings that make up your farm. Reach out to a farm insurance provider today or visit websites like http://www.wrg-ins.com/ to learn more about farm insurance and the various endorsements or add-ons that your policy may need to fully cover your farm and your finances.