Agrotourism and Agrina – What is it?
Those of you who can ask themselves what exactly is an agrotourism or agrarian enterprise, is simply the use of existing resources such as agricultural land or other natural resources to increase the profitability of farm work or ranch. For example, a farmer with 2,200 hectares decides to advertise a guided hunt in his country for a pistol or per day compensation. Many landowners in rural America have major hunting habitats in the canyons and hills surrounding their fields, and allowing hunters to "pay for the game" can be an additional source of income for these farmers and ranchers. Other examples of agrotourism include bed and breakfast, farm days, pumpkins, horseback riding, riding, cabin rental, homemade walking trails, bird watching, vineyard touring and more.
Liability insurance is basic
In my experience with insurance in agriculture and agriculture, I had the privilege of working with the leading agency for agri-tourism marketing. This company provides not only the online market for agrotourism and agro-business, but also analyzes the probability of success of the new venture and makes recommendations to ensure successful investment.
With all the planning and preparation that starts in the agritourism, one of the most important parts of the puzzle is the assurance of responsibility for these activities. Many people assume they will have coverage within their current farm or ranch policy. The problem with this assumption is that they are probably very limited if any liability insurance for unforeseen agricultural policy is covered. Some companies offer hunting and / or fishing permits to their policies, but these approvals were not intended or provide coverage for commercial agrotourism.
Your current coverage may not be adequate
The standard insurance policy for the farm / ranch aims to cover the risks associated with normal "everyday" breeding exhibitions. This includes things like keeping your implementation down the highway or protecting your new pivot system from falling in the wind. Agricultural farms policies are not a substitute for commercial insurance coverage, and there is a potential for devastating loss.
When the owner or owner of the property enters into a commercial venture that is beyond normal agricultural operations, the farm's policy is not designed to cover additional exposures. Specialized commercial coverage must be purchased, which in many cases can only be provided on the surplus and surplus market (E & S) since most insured insurers do not provide the rewards needed for adequate coverage of agricultural policy. The benefit of using a specialized carrier is coverage that can be tailored specifically to your specific activity, and insurers and loss control will be experienced and educated. The disadvantage is the higher cost of covering excess lines. There is generally a higher minimum premium linked to the policy of surplus lines, as well as specialized taxes on excess line policies in some countries.
Agrotourism and agrotechnology activities are a great way to showcase resources in many rural areas. Insurance is necessary to protect the property of the landowners, because, as he says, the day in the courtroom can cost you a lifetime. Coverage is available for many activities, but your local insurance agent can not be the best source of information about these specialized coverage. Do not assume that you have coverage and do not allow your local agent to misinterpret support policies. If you have questions about current policy cover, contact your insurance company directly and ask specific questions about your cover.