A guide to how crop insurance works

by Roni Agress 01/01/2023

Local crops provide food and resources. Crops have significant importance to society; therefore, insurance for crops is offered by the federal government for protection. Check out this guide if you would like to learn more about crop insurance and how it protects farmers.

What is crop insurance?

Crop insurance offers farmers protection in the case of damage and loss to crops. It covers natural disasters such as extreme storms and drought. It also covers revenue loss due to extreme price swings in the market.

Multiple peril crop insurance protects farmers from a list of perils, while some specific policy types, such as crop hail insurance, are more specialized coverage. Depending on the region where the farm is located, other coverage might be necessary.

Cost of crop insurance

Terms and rates of crop insurance are determined by the Federal Crop Insurance Corporation (FCIC). This keeps prices consistent across the industry. Due to this, private insurance companies compete through providing great customer service, and by providing additional products and services to clients.

Who’s in the market for crop insurance coverage?

Agricultural producers and farmers are the primary purchasers of crop insurance. It’s mostly geared towards farms growing wheat, cotton, corn and soybeans, but other crops are included as well.

Crop insurance is essential to the agricultural industry for providing protection in case of unforeseen perils. With this coverage, farmers can have greater peace of mind about protecting their

Cost Of Insurance

Crops

About the Author

Roni Agress

Roni Agress brings to William Pitt Sotheby’s International Realty an accomplished and diverse history spanning three decades in entertainment management. Her experience, representing and assisting international performing artists and the administration of their production companies led to the establishment of her own firm in 1995. A passion for excellence, a strong work ethic and a commitment to getting the job done and an ability to anticipate, meet and manage is the foundation upon which Roni has built her career as a full-time realtor. As a resident of Redding, Connecticut since 1989, she possesses a detailed knowledge of the local markets, trends and values. Enthusiasm, vitality, resourcefulness and a can-do spirit accompany every transaction. Roni specializes in residential sales and relocation. She is an award-winning Realtor, an Accredited Buyer Representative and is Relocation Certified. • 2001 to Present – Sales Associate Ridgefield-Redding Brokerage • Gold Star, Silver Star, and Bronze Star Performance Awards – William Pitt Sotheby’s International Realty • #14 Company-wide in Units and #2 in Units in the Ridgefield Brokerage in 2013 • CT Magazine Five Star Performance Awards • 2011-2014 serving as a Director/Officer to the Ridgefield Board of Realtors