As a new farmer, you’re probably acutely aware of all that is riding on the success of your crops. That’s why implementing the right insurance coverage is so crucial. Multi-peril crop insurance offers a broad range of protections to farms, as the guide below explains. 

3 FAQ About Multi-Peril Crop Insurance

What do these policies cover?

Coverage can vary from agency to agency. However, crops like oats, rye, wheat, barley, canola, and certain types of beans and peas are often covered when harmed by heat stress, drought, lightning, frost, hail, insects, plant diseases, fires, rain, snow, hurricanes, and tornadoes. They may also be protected against chemical overspray and damage caused by wandering livestock. 

What about yield & price protection?

Most policies come with some degree of yield and price protection. The first covers you in the event your crops come up short. This applies to losses caused by the above-named perils. However, farmers can experience loss for other reasons. For example, if the market price of a crop goes down, a farmer will obviously be faced with a lower income. This is where price protection comes in, as it guarantees a price despite market fluctuations. 

What should farmers do when facing crop loss?

Notify your insurance agent as soon as crop loss has been discovered. In most cases, it’s best to provide formal notification within a 72-hour period. You can visit your insurance company to report a loss, as well as call or email your agent. In the meantime, continue caring for crops as you would normally. You may need to receive permission from your insurer to destroy or remove any affected crops. 

For almost four decades, Nebraska Crop Insurance Agency, Inc. has supported local farmers in Beatrice, NE. If you have questions about a multi-peril crop insurance policy, an agent will sit down with you to assess your risks and discuss options. This insurance company leverages its strong working relationships with carriers to ensure clients receive comprehensive protection at affordable rates. Call (402) 223-2694 to get started on a free quote or visit the website to see the full listing of services.