Today is the last day farmers can decide what commodity program and crop insurance they want. It is vital that every farmer has a strong risk management strategy, and as the world continues to face challenges, the safety net is a farmer’s first line of defense.
“Weather is a driver of crop failure, and uncertain markets will continue to be a concern for farmers. Crop insurance is here to financially help protect our family farms. For 2021, crop insurance insured more than 460 million acres providing $137 billion dollars in crops risk protection,” according to National Crop Insurance Service President, Tom Zacharias. “One weather disaster can drive a family farm out of business. Fortunately, over 90 percent of America’s insurable acres are protected by crop insurance. Farmers who planted cover crops should visit with their agent to see if they qualify for additional assistance through the Pandemic Cover Crop Program.”
This year is also the first time corn growers can purchase the Post Application Coverage Endorsement, which protects their revenue in case they cannot make the spring application.
Related:
Last year’s weather disasters caused $12.5 billion in ag losses
AFBF economist looks back on the financial impact of last year’s weather woes
What to keep in mind this growing season when it comes to crop insurance