AgChoice Farm Credit offers a full range of crop insurance plans. In fact, during 2014, AgChoice insured more than 41,400 acres of corn, soybeans, canning beans, wheat, barley, potatoes, grapes and apples.
It takes a significant investment to produce crops. A person can use the best seed, chemicals and management practices, but the weather can still destroy your crops. Through crop insurance, customers can reduce their risks and take some of the stress out of weather-related challenges. These programs, often subsidized by federal and state resources, are a cost effective means of buying protection.
There are many different plans of crop insurance that are available to you from milk insurance to the traditional corn and soybean coverage. There are also specific plans within each category. If you are looking to just cover your input costs, then a yield only plan may make sense. If you need to replace lost bushels, a crop revenue plan is probably a better alternative.
As a producer, you need to assess your risk. Ask yourself the following questions:
Is my insurance coverage adequate to cover my input and production costs?
Do I have enough insurance to secure operating loans?
Are all of my risk exposures covered?
Do I fully understand my current coverage and does it satisfy my needs?
Does my crop insurance guarantee go far enough to reduce crop marketing and forward contracting risk?
If you don't feel comfortable with your current level of protection, you need to discuss ways to supplement any deficiencies you may have with your crop insurance professional. Contact us or contact your local branch today for more information or to sign-up for crop insurance.