TDA Insurance Blog
Agri-Tourism – Side Businesses & Liability Insurance for Farmers
7/31/2012 11:06:29 AM
The hit to the economy a few years ago affected all industries, including farming. This led many to look for additional sources of income. According to the USDA, the average farm in Michigan is 215 acres – such large spaces often give farmers room to expand the business into agri-tourism.
What is agri-tourism? The breakdown of the word is actually quite simple – a business that combines agriculture and tourism. It has become quite popular across the country. There are many services farmers could start offering without investing much. Some farms have transformed their homes into bed and breakfasts, welcoming guests to fill their otherwise empty rooms. Others have turned their focus to children, setting up festivals, petting zoos, and horseback riding lessons. A popular enterprise is pick-your-own produce, allowing visitors to harvest strawberries, pumpkins, and other in-season fruit and vegetables themselves.
Before setting up an agri-tourism side business, there are many things to consider. One of the most important is your insurance policy. Such additions to your farm could put you in greater liability risk and failing to have the proper liability insurance during an accident or other unfortunate event may lead to dire consequences. In addition, you should carefully consider the effects on your main business – farming. You may want to enlist help to ensure your focus can remain on your livestock and crops. Agri-tourism is a steadily growing industry – why not consider breaking into the market yourself?
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What is agri-tourism? The breakdown of the word is actually quite simple – a business that combines agriculture and tourism. It has become quite popular across the country. There are many services farmers could start offering without investing much. Some farms have transformed their homes into bed and breakfasts, welcoming guests to fill their otherwise empty rooms. Others have turned their focus to children, setting up festivals, petting zoos, and horseback riding lessons. A popular enterprise is pick-your-own produce, allowing visitors to harvest strawberries, pumpkins, and other in-season fruit and vegetables themselves.
Before setting up an agri-tourism side business, there are many things to consider. One of the most important is your insurance policy. Such additions to your farm could put you in greater liability risk and failing to have the proper liability insurance during an accident or other unfortunate event may lead to dire consequences. In addition, you should carefully consider the effects on your main business – farming. You may want to enlist help to ensure your focus can remain on your livestock and crops. Agri-tourism is a steadily growing industry – why not consider breaking into the market yourself?
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