Cattle Insurance: Protecting a Rancher's Investment
Owning livestock is a large investment, and that is why it is vital to have cattle insurance. Whether they are out to pasture or in a lot, cattle need to be insured against any accidents or problems that they may come up against. One can never know what might happen to a cow when it is out of the owner's sight. Also, a cow is a living, breathing animal and is subject to disease and injury. Insurance is the only way to protect one's investment.
What is Cattle Insurance?
Cattle insurance is a policy that is purchased on the livestock that is owned by a rancher. It can cover a whole host of different things from acts of God to diseases to contaminated feed. It all depends on the kind of policy that the holder purchases. This insurance is primarily to protect the investment in the cattle so that the rancher does not lose money at the end of the season. If disease wipes out his herd, a rancher could be out of business.
Who Needs Cattle Insurance?
All ranchers and livestock owners need cattle insurance. There are so many things that can happen to a cow as it wanders in its pasture so not having insurance is irresponsible. If a cow was to get sick and infect the rest of the herd, there would be no way for the rancher to make up their receipts at the end of the year without the help of insurance. Also, if cows get hurt in the pasture, being compensated for them through insurance is going to make a struggling rancher's job a little easier.
What Does Cattle Insurance Cover?
Cattle insurance coverage depends solely on what the policyholder wants to cover. There is full coverage which means an animal is covered no matter how it dies, but this is a very expensive insurance. Some of the things that can be covered include fire, hail, explosion, collapse of bridge or culvert, building collapse, collision with a vehicle, and smothering. There is even a provision on one policy for euthanasia if recommended by the veterinarian.
Where to Purchase Cattle Insurance?
There are many places that offer cattle insurance. One of the best is The Hartford Livestock Department. They have a comprehensive plan. Another is American Live Stock that offers a full mortality policy on its website. There are many other insurance companies that specialize in insuring livestock, particularly cattle. A quick internet search can find these and a dozen more likely candidates.
Cattle insurance is an important aspect of any rancher's business plan. In order to keep the herd in good working order, he has to insure that it is protected in the off chance there is a calamity. Money is invested into these creatures that are living, breathing organisms. They are subject to disease, fire, and injury. There is too much money and assets riding on them to let their health go to chance. Cattle insurance is the only way to safeguard a ranch's survival.