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As you make plans for this year’s growing season, you may also be making decisions on which path to follow when it comes to your crop insurance. Click below to hear Chad Cooper with Farm Credit Mid-America, as he discusses the options you may want to consider when choosing between Agricultural Risk Coverage (ARC) or Price Loss Coverage (PLC) for your farm operation in 2024.

Exciting News for Farmers! 🌱 Whether you're just starting out or a seasoned veteran in the field, navigating crop insurance is crucial. Check out our comprehensive guide on Crop Insurance 101 tailored for Beginning Farmers (BFR) and Veteran Farmers (VFR). From understanding policy basics to optimizing coverage, this resource has got you covered! Explore now: https://bit.ly/3PIMbWu #Farmers #CropInsurance #KingsgateInsurance #Farming101 🚜🌾

Debunking the Top 5 Myths About Crop Insurance 🚜🌾 As a dedicated part of the agricultural community, we at Ventus Agriculture Recruiter often encounter misconceptions about crop insurance. Let's set the record straight on five common myths: 1. Crop Insurance Is Too Expensive - Crop insurance is an investment in your farm's future. Premiums are often subsidized by the government, making it an affordable way to protect your livelihood against unforeseen losses. 2. Only Large Farms Need Crop Insurance - Farms of all sizes benefit from crop insurance. Small and medium-sized farms can face devastating financial impacts from natural disasters or crop failures. Insurance provides a safety net for all. 3. Crop Insurance Covers All Losses - Crop insurance policies vary and typically cover specific types of losses such as weather-related damage or yield reduction. It’s important to understand the coverage details and exclusions. 4. You Only Need Crop Insurance During Bad Weather Seasons - Weather unpredictability means risks exist year-round. Crop insurance protects your farm from unexpected events regardless of the season, ensuring continuous coverage. 5. Filing a Claim Is Too Complicated - The process has become more streamlined and accessible. Many insurers offer assistance throughout the claims process, ensuring you get the support needed when it matters most. Understanding crop insurance and debunking these myths is crucial for securing your farm’s future. Protect your hard work and investment by getting informed and considering crop insurance as a vital part of your risk management strategy. #Agriculture #CropInsurance #Farmers #Agribusiness #MythBusting #VentusAgricultureRecruiter #FarmSafety #InsuranceTips

BUDGET-DRIVEN CROP INSURANCE COVERAGE OPTIONS FOR 2024 — by Nick Paulson, Gary Schnitkey and Carl Zulauf Relative to 2022 and 2023, 2024 is projected to be a low to negative margin year for many grain farmers in Illinois. Because of lower commodity prices, per acre guarantees offered by crop insurance will be lower in 2024 than in 2023. Lower guarantees, along with stubbornly high costs, leads to a dilemma for farmers. Producers may seek crop insurance coverage with lower premium costs as part of broader cost reducing efforts. However, strategies which reduce farmer-paid premium may in turn reduce insurance guarantees or other risk reduction aspects of their insurance coverage, thereby increasing risk exposure. We evaluate options, with a particular emphasis on coverage resulting in farmer-paid premium costs for corn between $23 and $35 per acre in central Illinois. Read more: https://lnkd.in/giW2-zDv #cropinsurance #budget #farmers #illinois #premiums #guarantee

Private Crop Insurance Coverage: What is it? Typically, most crop insurance agents advise their clients that Multi-Peril policies don't cover everything that could happen to your crops. To fill the gaps, many companies offer "private products" or "named peril insurance" plans. These plans cover a variation of specific crops against specific damage. In turn, insurance companies are more likely to deny coverage because they are not federally reinsured.

Protect your harvest with crop insurance – peace of mind for farmers everywhere. #CropInsurance #AlegriaAdvisors #AlegriaInsurance

The USDA is enhancing Federal crop insurance, offering more accurate pricing for specific types of crops starting from 2025. This change, developed in response to feedback from the farming community, will help you manage your risk better. At Peachey Insurance, we’re committed to helping you understand these changes. Let’s navigate this together for a prosperous farming future! https://ow.ly/LmAM50Sraqt #PeacheyInsurance #CropInsurance #USDA #KansasFarmers

Thinking about adding coverage to your underlying crop insurance policy for the 2024 crop year? Learn more in the final video of a 3-part series on supplemental and enhanced coverage options (SCO and ECO). Reach out to your local FCI crop insurance agent for more details or information. #cropinsurance #IllinoisAgriculture #IllinoisAg #plant2024

**Prep Your Farm for Success: 5 Essential Steps Before Crop Insurance Deadline** As we approach the crop insurance sales closing date of March 15th, it’s crucial for corn and bean farmers to gear up for a successful 2024 season. Here are five vital steps to ensure your crop insurance needs are fully addressed: 1. **Review Your Production History:** Analyze your past yields to forecast your production levels accurately. This data will be instrumental in determining the coverage that best matches your farm's history and future potential. 2. **Evaluate Coverage Options:** With evolving farming practices and climate patterns, reassess your level of risk and consider if your current policy still fits. Are there new options available that could offer better protection for your operation? 3. **Update Inventory Records:** Make sure your inventory records are up-to-date. This includes equipment, seed stock, and other assets, as they can affect insurance needs and premium calculations. 4. **Consult with an Agronomist:** Understanding the latest in crop health and soil fertility can influence the amount of insurance you need. An expert’s perspective on potential yields can guide you to the right level of coverage. 5. **Schedule a Meeting with Your Insurance Agent:** Don’t wait until the last moment. Set up a meeting with your agent to discuss any changes in your operation, to explore new insurance products, and to finalize your coverage plan. By taking these steps now, you can enter the growing season with confidence, knowing your hard work is backed by a solid insurance plan tailored to your farm’s unique needs. Let’s make 2024 a year of growth and stability! #farming #cropproduction #corn #soybeans

Here's how crop insurance works and its benefits ¹ ² ³ ⁴: How Crop Insurance Works: - Crop insurance is a government-backed program that protects farmers and ranchers against declines in crop yields and/or revenue. - There are two categories of crop insurance: multiple-peril crop insurance (MPCI), which is federally subsidized, and private crop insurance, which is state-regulated. - Farmers can purchase crop insurance before planting begins. - The insurance covers a broad range of perils, such as drought, excessive moisture, freeze, disease, and other natural causes. Benefits of Crop Insurance: - Crop insurance helps farmers reduce their financial risk and protect their investments. - It provides farmers with financial security and the confidence to plant the next season. - It gives lenders the confidence that farmers can repay their loans. - Crop insurance is essential for farmers to take advantage of market opportunities. - It provides coverage for over 100 commodities, including perennials, livestock, apiculture, clams, rangeland, pasture, and oysters.