insurance Costs in 2025

[Ghs57]

How is everyone making out with insurance this year? My Special Farm Package policy with American National went up by about 20%. My agent says it's tough out there, and some insurers are pulling out of this market. He says he has never seen anything like it. I'm a small time producer (50 gallons roughly) and what I sell doesn't really amount to much. Now with my insurance increasing by over $500 really makes me wonder if continuing my operation makes financial sense. I'm, and I suspect many others, are not in it solely for the money. I'm sure I'd be closing down otherwise.

[SeanD]

I'll know in April when my policy is up for renewal. If it is anything like the auto rate increase I was hit with last July, it won't be good. My original company almost tripled the premium. I worked with an agent that shopped around and found another company where we could get down to about double. That was the best we could do.

Unfortunately, it's just the cost of doing business. The only thing worse than really expensive insurance is not having insurance at all. Time to dust off those expansion plans!

[Kh7722]

Our insurance is what i would consider high, but its only expensive until you need it.

[Bucket Head]

Our Farm & Family house/sugarhouse policy went up 27%. When questioned, the agent said the increase wasn't for the sugarhouse, it was because of the increase in cost to replace the house and its contents.

Regardless of the explanations, I agree, it's getting harder and harder for smaller producers. It's not good...

Steve

[Ghs57]

Indeed it is.

As a one man show, there is just so far I can go to increase my production, but I am looking into it. I'd like the operation to break even, or be self sufficient when it comes to expenses (maybe cover my labor!) while retaining price comparability with my fellow local producers.

I would not run without insurance, although I'm sure some do, or don't realize that their homeowner's insurance may not cover their commercial operation (like I used to until my agent enlightened me). Plus there is the liability of selling out of my home, and the food product liability. Lots to consider.