Agriculture, Forestry, Fishing and Hunting

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What Agriculture, Forestry, Fishing & Hunting Is All About:

The Agriculture, Forestry, Fishing and Hunting industry is an extremely important part of the U.S. economy. This industry only comprises 1% of the entire U.S. workforce but helps generate over $800 billion for the economy every year.

Work in this industry does come with some noteworthy risks, however. Agriculture and related industries involve hands-on work, some of which place agricultural workers and business owners into sometimes dangerous situations.

Many insurance policies are standard within this particular industry. Business owners in the agriculture industry should consider all of the possible policies that could be beneficial for their companies and their employees.

Who Needs Insurance for Agriculture, Forestry, Fishing & Hunting?

Any company that deals with food production, forestry of any kind, fishing or hunting will need to invest in several types of insurance. Although the label for this sector covers a broad range of individual industries, the agriculture industries as a whole labeled together by the U.S. government due to their distinct similarities. Most of these industries involve the basic elements of food production. Each has a noticeable impact on the environment, leading the government to classify them together.

The primary concerns in these industries are protecting workers and the business in the case of negative impact to either the environment or their customers. This industry is heavily regulated, so there are many federal laws which will be of significant concern to businesses who operate within this industry. Typical types of Agriculture, Forestry, Fishing and Hunting include:

  • Farms (~2,000,000 businesses in the U.S.)
  • Commercial Fisheries (~70,000 businesses in the U.S.)
  • Logging (~8,000 businesses in the U.S.)
  • Farm Equipment Manufacturing (~1,500 businesses in the U.S.)
  • Trucking (~400,000 businesses in the U.S.)

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What Risks Are Involved in the Agriculture, Forestry, Fishing & Hunting Industry?

As someone working in any of these fields, it is important to consider the various risks involved and how to protect yourself if anything happens. Given that both you and any laborers you have hired may be operating machinery, it is important to consider the different scenarios that can occur. Whenever machinery is involved, ensuring that operators have been adequately trained and have a strong understanding of safety protocols is important. Workplace accidents can occur if an employee is not fit to operate machinery. Even if an employee is, accidents can still happen. Having insurance for your business that protects your employees in the event of an accident or another work-related injury is important. Otherwise, the financial and reputational consequences of an injury may be a significant drain on your company.

In addition to the risks involved in the operation of machinery, it is important for business owners to understand any governmental restrictions imposed on their given industry. For example, hunting and fishing may only be allowed in certain areas during certain times of the year. These restrictions often allow for animal populations to prosper so that they are not depleted beyond repair. If one of your employees breaks a law, your business may be subject to fines or other consequences. Whenever employees are interacting with livestock, an employer must ensure that employees are following guidelines to deal with animals humanely. Employer and employees must be aware of procedures, regulations, and legislation. Investing in insurance that protects your business if any of these are violated is a critical part of securing your financial and reputational future.

Accidents can happen and regulations can be violated, both of which can result in negative consequences. In addition to these risks, business owners need to understand worker’s rights, especially if they are hiring employees from abroad. Many employees come from abroad to work in agricultural settings and often, are not treated properly. While the business owner may not be directly involved in the violation of worker’s rights, those is in positions authority may abuse their power. Therefore, ensuring that both you, as a business owner, and your employees treat foreign workers properly and have an understanding of worker’s rights is important.

In the agriculture, forestry, fishing and forestry industries, there are a variety of risks involved that a business owner must be aware of. When a business owner is aware of these risks, they can ensure they take the precautions necessary to protect their business now and in the future.

How Much Does Agriculture, Forestry, Fishing & Hunting Insurance Cost?

The insurance policies within this industry are extremely common. Most major insurance companies will offer them, making insurance costs fairly competitive. Prices will vary depending on both the type and size of your business.

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