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Since their inception in 2014, you’ve been choosing between Agricultural Risk Coverage (ARC) and Price Loss Coverage (PLC). You have until March 15 to make your choice this year.

The rural economy seems to be set on cruise in neutral gear. That’s according to the Rural Mainstreet Index (RMI) from Creighton University.

The sources of stress and uncertainty for the season ahead are plentiful. When uncertainty is plentiful, so is decision paralysis. To play offense and face the biggest risks to your farm, use this decision framework.

In 2022, the average interest rates on farm loans skyrocketed from record lows to decade highs. While that jump is remarkable and expected to continue, a little perspective is needed.

“Our CEO will always be the Chief Risk Officer – a task it is irresponsible to delegate,” says American investor Warren Buffett.

As a young Nebraska farmer, Maggie Holub is in a league of her own. She has a complete, but flexible, succession plan — in writing.

“There’s a place that you put on risk and there’s a place that you take it off. So, we decided to take some money off and put in the bank,” says Jerry Gulke, president of Gulke Group.

Could agriculture face a Southwest-type meltdown?

“What I look for as an agent and as a farmer is if I can get close to 2.5 times or more return on coverage versus extra premium,” says Jamie Wasemiller with Gulke Group and Wasemiller Insurance Agency.

Here’s what farmers should consider with this sometimes complex question.