Livestock insurance in USA 2023

Livestock insurance is a must with the financial crisis now a days. Livestock insurance definition and Frequently Asked Questions.

When we talk about World Food Security, Livestock and its all products and derivatives (meat, milk, cheese, butter…. etc., are considered the second main food source, after agricultural crops such as (wheat, corn, soybean, and other crops). The livestock market developed globally and quickly. 
From the Export countries to Import countries, livestock trade is international, using all transportation means especially by great ships for a huge number of cattle, sheep, goats, and the like. Either live cattle, or its products of meat, milk with all its derivatives (milk, cheese, butter… etc.)
Globally, livestock suffers from several dangerous risks, such as diseases, natural disasters (fire, flood, hurricanes), drought, lack of green pastures, and the decline of fodder-cultivated areas.

The continuity of this vital food source is very important, and its protection is highly required from authorities as well private sector as livestock owners, but due to several dangers which affect the livestock as diseases and decline of births and fertility, all these factors activate the livestock insurance as a main supporter for livestock owners and farmers.

FAQ about Livestock Insurance 

What do we mean by Livestock Insurance?

 It is the protection of your livestock, against all unexpected events that may happen at any time, it is flexible and customizable insurance so, whether you have cattle, sheep, pigs, goats, sheep, ducks any other domestic animal you can ensure each of them alone or a mixture, if you have a little number of animals are for private use, or for commercial purpose, your livestock covered against several risks. 

What are the most common diseases that may infect Livestock in the USA?

  In general Livestock all over the world all exposed to several diseases, and this is the case also in the US, the main and most important reason that causes diseases is the gathering of a huge number of animals like cattle in one place, no matter if it is closed or opened the constant contact between them leads to a rapid spread of infectious diseases consequently the death of a large number of them, the most well-known communicable diseases are:

- Bovine Viral Diarrhea (BVD)
- Anthrax
- Campylobacteriosis
- Contagious ecthyma
- E. coli
- Influenza
- Leptospirosis

What other risks may happen to Livestock and are covered by insurance?

In addition to diseases, Livestock insurance covers a wide range of risks:
Typically, the policy covers losses that occur on the farm and in transit, while it is transported from place to place for trading. The coverage can be extended to cover collisions when the livestock is hit by a vehicle on a public road.

- Protection against loss of Gross Market, cattle are exposed to this risk, when the feed costs rise and the milk price drop.
- Mortality insurance: which protects your herd from natural death as a result of(tornado, lightning, or fire accident), full mortality insurance covers all losses of your livestock including drowning.
- Theft also is covered, attempted theft, and unexplained disappearance of animals.

What are the types of livestock Insurance in the USA?

As a Livestock Owner, you have different policy options to choose the best of, which meets your needs and budget:
- Wide or Banket coverage that insures all your property, equipment, and livestock which may include all animals in your parcel or farm
- Individual coverage: it is designed for animals of higher value, such as Racehorse.
- The Herd coverage: which is the most common type of livestock insurance. 

How much does livestock insurance cost?

Estimating the cost of the insurance policy depends on the plan you select:
- The All-Risk Plan with full coverage of your Herd, for any risk you imagine and think about, including (diseases, infertility, and gross profit coverage, in addition to the coverage of the purebred of the most expensive cattle as the rare herd of bulls, show horses, racehorses, higher value pet.
Livestock insurance means peace of mind for the livestock owner to protect him from all dangerous events which occur suddenly and result in great losses in the livestock and the properties of the owner, who cannot afford to handle it alone.
In the all-risk plan, the cost of each animal insurance varies from $5.50 to $10 per $100 coverage, it reaches $220 per year for each animal.

Best Livestock Insurance Companies for 2023:

- American Family Insurance: Best Overall
- The Hartford: Best for specialized coverage
- Farm Bureau Financial Services: Best for Revenue Protection
- Nationwide: Best Whole Farm Coverage
- The Equestrian Group: Best for Livestock Mortality Coverage