A Farm Owners Policy usually provides the same coverage as homeowners, but usually there are discounts applied when you package the home with the liability. The other benefit is your personal and commercial liability are on the same policy so if there is a claim you do not have 2 companies arguing about which liability policy it falls under. Example: A friend comes over for dinner and wants to see the horses. You go out to the barn and your friend feeds a horse a carrot and gets bit. Should it be covered under the personal liability (Homeowner’s) or under the commercial liability (farm).