Hard Facts About Crop Insurance
Crop insurance can be used in many ways to benefit your operation. Each different product has its special attributes and you should find the product that fits your farm operation, your needs and your budget the best. Here are some of the benefits to the different types of coverage's available.
CRC and RA with HRO guarantees revenue protection. These policies will allow you to safely take advantage of attractive forward contracts at profitable prices regardless of what time of year it is and regardless how your crop looks. CRC and RA allows and supports a more aggressive marketing plan. .
MPCI is coverage that guarantees production and quality per section of ground. It also pays replant costs if replanting is necessary. The various crops covered will depend on the county and state they are located in.
CAT is the lowest multi-peril insurance available. It gives 50% coverage and the cost is $100 per crop per county. A catastrophic loss is necessary to collect. If you are a landlord or have a low number of acres, there are other policies that are more cost effective.
Named Peril Insurance allows you to custom design your own policy with only the perils and time frame that you want. This coverage is good for vegetable crops with limited perils.
AGR is a Revenue Guarantee policy that covers crops that there is no other type of insurance available for, such as blueberries. AGR guarantees a percentage of your 5-year average gross income.
GRP is available only on corn, soybeans and wheat. This policy pays only when the yield of the entire county drops below the expected county yield. It requires very little paperwork and is tailored more for the grower whose yields moves closely with or exceeds the county averages. This policy could still trigger payment regardless of what your own crop yields.
 GRIP is available only on corn, soybeans and wheat. This policy pays only when the NASS-calculated county revenue falls below the county trigger revenue. It requires very little paperwork and is tailored to fit the grower whose yields exceeds the county average. In most situations, when an entire county's crop revenues are low, most farmers in that county will also have reduced revenues.
Hail Insurance is coverage based on a dollar level per acre basis at very competitive rates. Our staff is experienced to discuss your operation's needs and suggest the coverage that will best fit your operation and your risk ability for your available budget. At Jackson & Associates we are dedicated professionals ready to meet your crop insurance insurance needs. We also perform a complementary coverage review; a "second opinion" of your current protection. We are often able to improve your coverage, lower your premiums or both. Jackson & Associates is a full service agency/brokerage and can assist you with all of your other professional and personal insurance needs as well; one brokerage firm, one personal contact for you. No hassle.
| 
