The rule of thumb is to make your insurance policy more attractive than you are. If your net worth is a million, carry 3 million in liability. Chances are, plaintiff will settle for the 3 million, rather than the extra time and expense of going after the additional million. And believe me, the insurance company lawyers (who will be defending you) will be cheerleading the settlement.
If you start getting into the high net worth categories, best to incorporate the farming operation to limit personal liability- You should own the real estate personally, and lease it to the farming corporation, but have the farming corporation own the cattle and machinery. And then have the corporation carry good liability insurance.
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Today's Featured Article - Product Review: Black Tire Paint - by Staff. I have been fortunate in that two of my tractors have had rear tires that were in great shape when I bought the tractor. My model "H" even had the old style fronts with plenty of tread. My "L" fronts were mismatched Sears Guardsman snow tires, which I promptly tossed. Well, although these tires were in good shape as far as tread was concerned, they looked real sad. All were flat, but new tubes fixed that. In addition to years and years of scuffing and fading, they had paint splattered on
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