The increasing complexity of crop insurance demands careful attention and service from an agency that understands it well. We deliver on this important protection, keeping current with the most up to date knowledge and options available to our customers. With USDA farm program elections now elected annually, don’t settle for a mediocre crop insurance agent. Let us be your Trusted Choice!
Crop insurance coverage in 2021 continues to offer a wide variety of options. Revenue Protection or “RP” policies continue to be the most popular and robust coverage, providing both yield and market protection in one subsidized policy. The combination of higher corn and soybeans bushel prices and higher volatility factors calculate out to more coverage, but also higher premiums in 2021. Other coverage options include Yield Protection “YP” coverage without the revenue coverage component, or the Revenue Protection with Harvest Price Exclusion “RPHPE” policy.
In years past, producers would decide whether to carry an individualized crop insurance policy covering their actual production versus group or county-based crop coverage such as “GRIP,” but could not carry both. New in 2021 is an option to add a top-end layer of county coverage to each producer’s individualized multi-peril revenue or yield policy, allowing them to have the best of both policy types. Termed “ECO,” this county based yield or revenue option is an endorsement that guarantees 90% or 95% of each producer’s county expected county yield. Extra Coverage Option is appealing because like individualized multi-peril policies, it is being subsidized.
Again in 2021 we are offering a 95% policy as an add on to a producer’s underlying mutli-peril policy by adding another 10% band of coverage. “GAP” is a private product that is not subsidized, but can provide quite high bushel and revenue guarantees and can be quite attractive to those who need or want as much coverage per acre as possible. On the hail insurance side, Hail and Wind coverage continues to also be quite popular, especially in the aftermath of the 2020 derecho that swept through central Iowa.