Services for Farmers

Steele Financial Services, LLC, prides itself on serving the unique financial needs of farmers and ranch owners.  With strong personal and professional ties to both states, Tom Steele has become a trusted advisor to the families and individuals whose time, effort, and fortunes are dedicated to feeding America.  The financial challenges faced by farmers and ranchers require a specialized approach in order to ensure a sound strategy when it comes to areas such as retirement planning, estate planning, farm/ranch insurance, and crop insurance

Farming is your livelihood and is often an unpredictable lifestyle. Our agency can help protect your farm and ranch against the multiple risks that threaten your livelihood. Being a locally owned, independent insurance agency representing quality insurance companies like Nationwide, Travelers and Farmers Mutual of Nebraska, we have the experience in agriculture and insurance to provide the appropriate coverages at the most competitive premiums. Our team’s knowledge and experience in both fields allows us to properly assist you in all your questions, concerns and needs. We do on-site farm inspections that are conducted annually to review coverage and update your policy if needed. Our main goal is to make sure that you are covered properly at a fair premium so give us a call if you want to schedule a consultation! 

Here is some additional up-front information about each of these four critical factors to successful financial planning for farmers and ranchers:

Farm and Ranch Insurance

Just like a home or a business, a farm or ranch should also be protected against the dangers and losses associated with natural catastrophes. If you have a farm or a ranch, then it is important for you to consider insuring it. You will never know what might happen in the future so it is important for you to prepare beforehand for certain inherent risks. One way of protecting your farm or ranch from threatening circumstances and natural disasters is by getting an insurance policy for it. The insurance coverage for farms usually includes the dangers associated with vandalism, fire, theft, windstorms, smoke, explosions, hail and lightning.

In your search for the best farm insurance policy in your area, it is important for you to first look into the entire insurance coverage.  Steele Financial Services, LLC, has a wealth of experience helping farmers and ranchers navigate the many options and provisions included in farm or ranch insurance policies.  We help owners figure out which provisions are the best ones for your individual circumstances. Some of these provisions include:

  1. Farm Liability Provisions. This provision is intended to protect you from certain injuries that can be sustained while working on the farm or ranch. These injuries include dangers such as burns, falls and pesticide poisoning. The provision also covers the protection of your property from any forms of damage provided that the damage was sustained during work in the farm or natural disaster. Your property will then be protected against flood, fire and hurricanes with the help of this farm insurance provision.
  2. Farm Property Provisions. This specific provision covers damages associated to chosen properties such as livestock. This insurance provision is proven to be very useful for farms located in areas that are prone to tornados, hurricanes and landslides. These calamities are known to greatly affect livestock such as cows and horses that is why some farm insurance companies offer insurance provisions for them. Some of your selected farm properties will then be protected through this.
  3. Homestead Provisions. This insurance provision is directed towards protecting your homestead or farmstead and all of its contents. With this provision, you are guaranteed that you are protected from losses that you might incur from certain house damages like theft and leaks. If you have a farm that is located at the farthest side of the town with only a few people to watch over it whenever you leave, this provision is the perfect one for you.

These are just few of the provisions or conditions covered by farm insurance.  If you are contemplating a farm or ranch insurance policy, contact Steele Financial Services, LLC, to help guide you through the process of determining and acquiring the appropriate amount of coverage. Through this process, you will have a strong guarantee that your farm or ranch and the properties you have in it are largely protected from harm. 

Crop Insurance 
Refers to an insurance which insures farmers and crop producers against the loss of their crops due to natural disasters, such as wind, drought, and floods. There are two types of crop insurance:  crop-yield insurance and crop-revenue insurance.

Crop-yield insurance consists of two main classes :

  1. Crop-hail insurance is available from private insurers because hail is a narrow peril that occurs in a limited place and its accumulated losses tend not to overwhelm the capital reserves of private insurers.
  2. Multi-peril crop insurance covers the broad perils of drought, flood, insects, disease, etc., which may affect many insureds at the same time and present the insurer with excessive losses.

Crop-revenue insurance is a combination of crop-yield insurance and price insurance. Crop-revenue insurance covers the decline in price that occurs during the crop's growing season.

Call Steele Financial Services to schedule a consultation today and take control of your financial life!

South Dakota: (605)847-5002

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Check the background of this financial professional on FINRA's BrokerCheck