University of Maryland Extension

Insurance

Crop insurance

Urban Ag home | Table of contents Crop insurance protects against either the loss of crops due to natural disasters or the loss of revenue due to declines in the prices of agricultural commodities. It is federally supported and is sold and serviced by certain approved private-sector crop insurance...

Property casualty protection

Urban Ag home | Table of contents First party property protection for structures, machinery, equipment, inventory (fire, hurricane, etc.) Protects the things you need to run your farm business. It can pay for repairs or replacement of your business property if it’s stolen, damaged or destroyed in a...

Commercial auto insurance

Urban Ag home | Table of contents Typically, auto policies for businesses (“Business Auto Policies” or “BAPs”) include both liability and casualty protection for a company’s use of cars, trucks, vans and other vehicles in the course of carrying out its business. This may include vehicles owned or...

Business liability protection

Urban Ag home | Table of contents Liability insurance is a part of the general insurance system of risk financing, It protects the purchaser of the insurance (the "insured") from the risks of liabilities imposed by lawsuits and similar claims. It provides legal counsel and pays the costs and any...

Mandatory insurance

Urban Ag home | Table of contents If you own a business, you may be legally required to carry certain insurance for your employees. Even if you’re not required, however, it might be prudent to obtain coverage to protect your farm business against unforseen losses. Requirements for legally required...

How does insurance work?

Urban Ag home | Table of contents An insurance policy is a contract. Generally, the parties to the contract are the policyholder (the “insured”) and the insurance company (the “insurer”), and the terms of the insurance contract spell out the rights and responsibilities (or “duties”) of both parties...

Insurance

Urban Ag home | Table of contents Insurance is one of the most important tools you can have to manage a variety of risks associated with having a farm, but it can be especially important to understand the layers of insurance protection that might be needed if you are farming in an urban area...

Types of property rights

Urban Ag home | Table of contents Ownership Owning land gives the owner all rights to the property. The owner has the absolute power to enter the land and use it for any lawful purpose. The owner has the power to decide who else may enter the land, when they may enter and what they may do while...

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