Growing Your Farm: Insurance FAQs

As farms continue to evolve, so do the risks that come with them. Whether it’s expanding acreage, investing in new technology, or diversifying into new revenue streams, growth is a positive step—but it can also impact how your insurance coverage responds.

To help make sense of it all, we sat down with Jeff Gerber, Agency Manager at AgriWise Farm Insurance to answer some of the most common questions farmers have about how operational changes can affect their policy. From small updates to major expansions, here’s what you need to know to keep your coverage aligned with your operation.

Why does growing or diversifying my farm affect my insurance policy?

“Growing your farm is a natural part of farming. As your farm changes, so does your risk. Adding buildings, equipment, livestock or additional income streams can change what needs to be insured and how your coverage responds in a loss.”

1. What types of changes should I tell my Agent/Broker about?

“Even small changes can have coverage implications. You should contact your agent/broker if you:

• Add new buildings, bins or structures
• Purchase or upgrade equipment and technology
• Increase livestock numbers
• Expand acreage
• Diversify into new operations (custom work, agri-tourism, processing, retail, etc.)
• Introduce renewable energy, automation or agri-tech”

2. What happens if I don’t update my insurance policy?

“Reviewing your policy before changes occur helps avoid surprises. If your policy doesn’t reflect your current operation, you could face:

• Coverage gaps
• Underinsured buildings or equipment
• Limitations on claims”

3. Does diversification automatically mean higher premiums?

“Not always. While some changes may increase risk, others may not significantly impact your premium. The key is making sure your coverage accurately reflects what you’re doing today—not what you were doing years ago.”

4. How often should I review my farm insurance coverage?

“At a minimum, you should review your policy annually. You should also review it anytime your operation grows, changes, or adds new revenue streams.”

5. Can my agent/broker help me plan ahead for future growth?

“Yes. Your agent/broker can help you understand how future plans may affect your insurance, so you can make informed decisions as your operation evolves.”

6. Why work with a mutual insurer when my farm is growing?

“Mutual insurers understand agriculture and rural operations. Because mutuals are member-owned, they focus on long-term stability, local understanding, and protecting what matters most to farmers and their communities.”

7. What’s the best next step if my farm is changing?

“Have a conversation with your agent/broker. A quick review today can help ensure your coverage keeps pace with your operation’s growth tomorrow.”