If the property is assessed in a different class, for example, country residential the annual tax bill will be higher.

This $10,000 minimum production threshold is also required for most other provincial and federal-provincial farm programs.įor the municipality they will need to have the property in agricultural production for it to be taxed at the farm property tax rate. To be considered a farm for the Alberta Farm Fuel benefit (and be eligible to use marked or 'purple' fuel) the farm business must have $10,000 or more of gross annual farm production. There are several different definitions of a 'farm' depending on who the owner(s) will be interacting with. If you would like to learn more about farm insurance, or if you are interested in one of our products, please contact Mountainview Insurance at 60 or by requesting a quote on our website.What do I have to do to be considered a farmer in Alberta?

Agritourism – This type of insurance will cover you in the event that someone is injured or becomes ill from eating your products, while on your farm.

Vehicles and Equipment – For expensive equipment, you can get equipment insurance to cover any damage or theft, and you can also purchase a collision insurance plan for any vehicles that you use for your farm.

Product Liability Insurance – This covers all of your farm products (i.e.

You can always purchase additional farm liability insurance or umbrella.

Farm Liability Insurance – While other farm insurance policies might include liability insurance, it might have a limit that is too small for your needs.

Farm Rental – This insurance is for people who rent and live on a farm property, and works to cover the same things as homeowner insurance.

Farm Property – If you own a farm but do not live on it, you can get insurance that covers the same items as farm homeowner insurance, minus the house coverage.

Farm Homeowner – If you own and live on a farm, you will need to purchase a farm/ranch homeowner policy, which should cover your house, personal property, living expenses if your home is damaged, theft of personal and farm property, damage to farm equipment, outbuildings, farm assets, livestock losses, chemical drift, and liability and medical expenses for farm injuries.

Some of the different types of farm insurance available include: When it comes to trying to figure out which type of farm insurance works best of your farm, you should always talk to your insurance provider about the specifics of each farm insurance option.

Do you have barns or other large outbuildings?ĭo you need livestock insurance? The Different Types of Farm Insurance.

Answering “yes” to any of the following questions is a good indicator that you should invest in farm insurance: Since farming can be a dangerous activity, it is important to know if you need farm insurance for your particular farm and how much farm insurance coverage you need. You might think that you do not need farm insurance if your farm is merely a hobby farm and you do not receive any income from it however, not all homeowner’s insurance policies cover farming activities. That is why we have put together some information on farm insurance, from hobby farms to commercial farms, to help you choose the best insurance policy for your farm.

At Mountainview Insurance, we know that the better your understanding of farm insurance is, the better choices you will be able to make down the road. When it comes to insuring your farm, understanding your insurance provider’s policies are key to protecting your operation.

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