Crop Insurance has become a
very useful tool for farmers, to help manage the financial loss caused by the
risk elements that are so common with planting, growing and harvesting crops.
Producers can now choose the
configuration of their protection, either based on the market price with a
starting base price and an ending harvest price (CRC and RA), or on a
set price (MPCI and CAT). There also is a choice of how the unit
structure is to be insured – basic unit, optional units or enterprise units.
The choice of “level of coverage” also helps in customizing the protection to
each individual producer’s need. Your actual production history on each unit
also comes into play as to how much protection you have.
Several companies offer crop
insurance; all are supervised by the Federal Crop Insurance Corporation, a
branch of the Department of Agriculture, Washington, D.C. All offer the same
price and regulations on the crop insurance. The only difference among any of
the underwriting companies is the service given you by the agent / representatives,
the claims adjusters, and the claims servicing office. We offer three
independent companies for you to choose to carry your insurance.