Posted on: April 11, 2021 Posted by: Charles Johnson Comments: 0

Are you interested in crop insurance, and all other things that have to do with it? We have the answer. So, if you’re interested, read on! In this article, we’ll explain everything that you must know about this topic.

What exactly is Crop Insurance?

Crop insurance is one type of risk-management plan that is designed to safeguard farmers from the loss of their crops as a result of natural disasters, accidents and other such events. There are two kinds of this type of insurance: multiple peril crop insurance as well as crop-hail insurance. The government provides the first one, while the private sector offers the second.

Multiple Peril Crop Insurance

We have already mentioned that Multiple Peril Crop Insurance, often referred to as MPCI, is given by the federal government to farmers in order to ensure their safety. You don’t need to worry if you get this insurance program since it covers everything from fire, flood and storms that cause crop destruction. The downside of this program is that it is only able to be used on selected row crops; cotton, soybeans, wheat, and corn.

Crop-Hail Insurance

Crop-hail insurance is an excellent option if you’re a farmer who earns a profit from crops that aren’t covered under MPCI. This is the other type of insurance that private sector companies sell to farmers. In contrast to what the name implies, crop-hail not only covers losses caused by hail. It also shields farmers from damage caused by lightning, fire, theft, and all kinds of malicious acts. Another thing, this insurance is the best fruit insurance since it also covers fruit crops.

What is the cost of Crop Insurance?

The Federal Crop Insurance Corp or FCIC regulates the rates for insurance providers, and these rates can range from $47 to $89 monthly depending on the location, acreage and so on. The cost of insurance is the same no matter the company you choose to use for insurance. However, the customer services and benefits offered by these firms may differ from one another. So, in choosing an insurance agency to protect your farm, make sure you take note of these aspects and compare them before deciding.

Tips for Choosing the Best Crop Insurance Provider

Having read everything, you may be considering the possibility of obtaining crop insurance from your insurance house for your farm. However, with the many insurance companies that provide this service, you could get confused about which one to choose. It’s normal to be confused but worry no further. Here are some things you must consider when choosing the best crop insurance provider to protect your farm.

1. Experience and Knowledge

Agriculture policies and regulations are constantly changing. It is important to choose an insurance agent that is informed about the latest developments. They will also be able to provide customized insight to meet your insurance needs since they are well-informed about the current situation.

2. Customer Service

We’ve said it before: the majority of agencies differ only in the customer support they offer. Naturally, you want to get insurance from an agency that is focused on customer service. This is something to be aware of when selecting an agent.

3. Review

The most effective way to find out whether you can trust an agent is through previous customers. Therefore, look into the feedback of past and current clients when selecting an insurance agent. In line with this, one crop insurance agency with a lot of positive reviews and is worth trying is Scott Colville Crop Insurance. For more information about their company and services visit their homepage.

Let’s sum it all

Insurance for crops is often ignored by farmers since they view it as an additional expense. But they do not see how it can become advantageous for them to have one in the long run. So, we would like to see more people see the benefits of this risk management program by discussing it more.