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Livestock Insurance for the mortality 

You have worked to provide for your family, this wonderful country, and even other countries. Have you considered what would happen if your cattle unexpectedly died, whether you are a row crop farmer with a few steers to fill your freezer with beef or a livestock producer whose existence depends on it? Would you be OK with this kind of monetary loss? Insurance against livestock mortality is a good idea.

Most likely, you are OK with providing adequate coverage for your farm buildings or equipment. Your livestock should follow the same rules. Probably one of your first thoughts is, “Well, doesn’t my farm package insurance policy automatically cover my cattle under the farm personal property coverage form?” The response is, so let’s elaborate. The restrictions of a typical farm policy apply to cattle. Livestock must be included in the overall approach for it to be covered under a standard farm Livestock Insurance in Pakistan(unless endorsed to include additional livestock coverage).

NOTE: 

Livestock Mortality Insurance is written in conjunction with an agricultural package at our agency. These are not available as a stand-alone insurance.

COVERAGE FOR STANDARD FARM POLICIES

Some examples of what would be included under a typical farm policy are as follows:

1. Fire – The insurance will kick in and pay for the lost livestock if your livestock building catches fire and the animals die due to the fire. Remember that you will need sufficient farm personal property limits to cover the livestock in this situation.

2. Tornado/Wind: Livestock will be covered under the wind danger of a typical policy if a tornado kills it due to flying debris or a falling building.

3. Hail. The usual insurance would kick in and cover this loss if huge hailstones fall on an outdoor cattle yard and kill out the herd due to blunt impact.

It is crucial to remember that a typical farm Livestock Insurance policy also protects from loss due to things like theft, vandalism, lightning, assaults on wild animals, and motor accidents.

THE STANDARD COVERAGE, IS IT NOT ENOUGH?

This is all I need to protect my herd. Consider the following examples of situations that a typical farm insurance plan would not cover:

1. Animals eat harmful substances after consuming contaminated feed or water.

2. Eating poisonous grazing plants.

3. Hypothermia brought on by snow, sleet, freezing rain, or a storm.

4. Drowning risks include flood water, surface water, overflow of any body of water, mudslides, and mudflows.

5. Sinkhole collapse that happens on its own; 6. Electrocution.

7. Unintentional gunfire

8. Earthquake.

9. Civil unrest or a riot.

10. The collapse of piers, culverts, bridges, or other structures.

11. Explosion.

12. Gas leakage or asphyxia.

13. Leakage of anhydrous ammonia used as a refrigerant or a fertilizer.

Please be aware that every coverage plan is unique! It would help if you had a detailed conversation with your agent to determine what is expressly covered or excluded.

A plan can cover these exclusions we call an Animal Mortality Insurance Plan, even though they are unlikely to be covered on a typical farm Livestock Insurance Pakistan. The purpose of purchasing this livestock mortality insurance is to close a gap in coverage for all kinds of cattle. A cost-effective choice is accessible whether you own cattle, swine, poultry, sheep, equines, or exotic animals.

WHAT IS THE COST OF LIVESTOCK MORTALITY INSURANCE?

These standard animal mortality insurance policies usually cost 0.15 to 0.35 cents for every $100 of coverage. Now for an illustration!

Consider a cattle operation with four purebred Angus bulls worth $4,000 in market value. Fifty crossbred mother cows worth $2500 each, 50 crossbred heifers for $2000 each, and 25 crossbred steers worth $2,000 each make up the remainder of the herd. This particular herd sample has a total worth of $291,000. The 0.35 penny (highest) per $100 coverage pricing model will be applied. The coverages listed in 1-13 above, along with other situations such as animals in transportation, would cost about $1018.50 per year to insure this herd under a typical animal fatality insurance.

DO YOU HAVE A LIVESTOCK USED FOR SHOW, RACING, RESEARCH, OR SERVICE COVERAGE OPTION THAT IS MORE ALL-INCLUSIVE?

Additionally, there are choices for animal mortality insurance that provide All Risk coverage for livestock herds. With very few exceptions, this virtually protects the flock from everything possible (disease, infertility, and gross profit coverage can be included in these plans). This might be an option for you if you wish to pay for pricey purebred cattle, show pigs, show horses, race horses, research animals, service animals, aquaculture, or expensive pets. Remember that the All Risk plan has substantially higher insurance prices. This plan can range from $5.50 to $10.00 for every $100 of coverage. For instance, a purebred Angus bull valued at $4,000 would cost about $5.50 for every $100 of coverage or $220 annually.

OUR FREE-SPIRITED INSURANCE PROFESSIONALS ARE FAMILIAR WITH AGRICULTURE AND LIVESTOCK!

A committed, knowledgeable independent insurance agent can assist you in managing these things because there can be a lot to work on and understand with farm and animal insurance. An independent agent might facilitate excellent company and insurance options for your specific needs because they are not bound to a particular insurance carrier. We’ll locate a plan that protects your business effectively and is within your price range.

Please be aware that each herd and operation is unique. Many factors determine the final insurance prices. State, county, pastured versus confined livestock, and overall value differ. These actual applications for past coverage serve as examples. These costs and options for coverage are subject to change.

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