Momentum Ag, a division of Patriot Growth Insurance Services, has broadened its insurance portfolio to offer property and casualty (P&C) coverage, adding to its existing federal crop insurance services for farmers and ranchers.
The new offerings include protection for dwellings, farm structures, machinery, equipment, livestock, crops, and liability. Momentum noted that optional endorsements can be added based on the specific risks associated with each operation.
The expansion comes as federal policymakers aim to increase support for agricultural producers through legislative efforts. A bipartisan bill introduced in Congress proposes raising federal subsidies for crop insurance premiums.
If enacted, the legislation could increase access to higher levels of coverage, particularly for farmers seeking broader protection amid rising operational risks.
At the same time, concerns have emerged over the accessibility of insurance services in rural areas. Industry observers have noted that ongoing consolidation in the insurance sector has contributed to a decline in local expertise.
This shift has made it more difficult for some rural producers to access coverage options suited to their specific needs, particularly when dealing with nuanced agricultural risks.
Lucas Strom (pictured above), president of Momentum Ag, said the decision to expand was based on client feedback from producers seeking broader coverage options.
"While our primary focus remains on production agriculture through the federal program, we've heard from many farmers looking for additional coverage options,” he said. “Expanding into property and casualty insurance allows us to meet those needs while continuing to provide the personalized service they rely on."
Industry data suggests that demand for crop insurance continues to grow. In 2024, US farmers and ranchers spent more than $6 billion on crop insurance policies, covering roughly 543 million acres.
Momentum Ag is leveraging its affiliation with Patriot Growth Insurance Services to collaborate with multiple carriers, offering a mix of policy options. The company said its process aims to simplify quoting and claims, and it intends to continue providing personalized client support.
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