Do you plan to use crop insurance as a risk management tool this growing season? If so, be sure to mark March 15 on your calendar. That is the deadline to apply for crop insurance protection for the 2017/18 season.
While the majority of U.S. farmers use some form of crop insurance, a significant amount do not.
Understand the risks of not carrying crop insurance through the FAST Crop Insurance Decision Tool from FarmDoc. This Microsoft Excel spreadsheet features a few components: a calculator of farmer-paid premiums, a “what if” tool to look at insurance payments, and a history of insurance payments and premiums. It also allows comparison of farm yields to county yields.
To determine how much coverage you may need, check out the 2017 iFarm Crop Insurance Premium Calculator from FarmDoc. This online calculator allows users to develop highly customized estimates of their crop insurance premiums, and compare revenue and yield guarantees across all available crop insurance products and elections for their actual farm case.
March 15 is right around the corner, contact your crop insurance agent today!