The following information is a Web Extra from the pages of Farm Journal. It corresponds with the article "Coverage Considerations." You can find the article in Farm Journal's 2013 January issue.
Access the Risk Management Agency’s Crop Insurance Cost Estimator to determine a general premium estimate for your farm.
See which crops can be insured in your county, according to USDA.
Insight from Crop Insurance Experts
Use Crop Insurance to Hedge Volatility
Jamie Wasemiller, Gulke Group analyst and owner of Wasemiller Insurance Agency, says crop insurance has become more of a hedging tool, than it was in the past. "You can use crop insurance to create a revenue floor. You can also create a cushion and mitigate risk."
2013 Crop Insurance Planning
When planning crop insurance coverage for 2013, consider whether a T-yield substitution makes sense to bring your actual production history (APH) average up in light of the recent drought, says Dr. Ray Massey, a University of Missouri professor of agricultural economics.
NCIS Adjuster Schools in Action
Learn how crop insurance adjusters estimate losses in crop fields.
Crop indemnity maps:
Below is the most-recent map detailing indemnity payments on the county level from USDA's Risk Management Agency.
(click to enlarge)
Compare the last five years of indemnity levels by county (around Dec. 10) from RMA.
- January 2013