Farmers face volatility when it comes to commodity prices, input costs, weather and policy decisions. Crop insurance is an important risk management tool.
Crop Insurance from Rural Mutual
Aside from price, service is one of the benefits that makes crop insurance with Rural Mutual unique. Our specialists take the time to understand your farm so year-over-year they can tailor recommendations to make your farm successful. Our agents and crop insurance specialists work closely together. We understand the importance of communication between agents, crop specialists, and the client to work together with your farm insurance to make sure you’re properly covered.
In the event of a loss, bundling your insurance with one carrier makes the process simple. Your agent and crop specialist work together to make the process as smooth as possible for you.
Our specialists are local, involved in the community and know what is unique to your area so they can provide specialized recommendations for your farm.
Crop Insurance Coverage options
Weather is unpredictable. Having a risk management tool is a way for farmers to purchase protection and guarantees on a crop, in many cases, before its even in the ground.
Yield Protection provides protection (for many crops not covered under the APH policy) against a loss in yield. Pricing is set in based on Commodity Exchange Price Provisions (CEPP) determined prices.
Also available with Harvest Price Exclusion (HPE) option. RP protections against a loss of revenue caused by price increase or decrease, low yields or in combination by guaranteeing a set revenue amount. Pricing is set in based on Commodity Exchange Price Provisions (CEPP) determined prices. HPE policies exclude the Harvest price.
annual reviews are important
Conditions change every year. That’s why it’s important to sit down with a crop specialist to review your past year and predictions for the upcoming year. You may want to consider additional coverages.
Supplemental Coverage Options (SEO) – An additional coverage that will cover you up to a trigger level of about 86%. You must buy it as an endorsement to the Yield Protection, Revenue Protection, or Revenue Protection with the Harvest Price Exclusion policy or to the Actual Production History policy for crops that don’t have revenue protection available.
Enhanced Coverage Option (ECO) – An additional coverage that will cover you up to a trigger level of 90% – 95%. It must be purchased as an endorsement to the Yield Protection, Revenue Protection, Revenue Protection with the Harvest Price Exclusion, Actual Production History or Yield Based Dollar Amount of Insurance policy.
Both are based off county loss, not directly what loss you see on your farm. Your crop advisor can help you understand what the trigger is at the county level, what it will cost you, how it will cover you, when that loss will trigger and when the loss will pay.
Review the cost of your quote and if it makes sense for you. Ask yourself, “If the crop fails, what do I need to cover myself?”.
Our crop insurance specialists are here to help you understand the current market and educate you on the best recommendations for your farm. We can protect your property, buildings, crops, vehicles, and more. Contact an agent to get started.