Hello! Welcome back to our farm. Today I'm going to talk about a topic that many of you may find boring. But it is very important when you need it! That topic is insurance!
Our premiums on the farm policy are outrageous. The main reason they are so high is because we are half a mile off the road (I know you all are getting tired of hearing me say that), which means we are at least a half mile from a fire hydrant. We have a large pond in our front yard, and the fire fighters have acknowledged they would use that water to fight a fire at our home if necessary. But our insurance company won't recognize this fact. If we were on county water, we could "buy" a fire hydrant of our own and have it placed back here, and our premiums would go from about $1,200 a year to $350 a year. But the price of a fire hydrant is a couple of thousand dollars, so we will wait.
If someone came on our property to buy a cow or maybe some eggs, and they fell and got hurt, it would be covered under our liability on our homeowners policy. But if I start allowing groups of people to come on our farm for tours and someone falls off a hay wagon, I will probably need some type of additional policy. And I'd be afraid to price it.
Stop back by tomorrow. No telling what you'll learn! Honey