Scott City KS | FlyinIL22 - 3/11/2019 14:22
I'm a fairly new farmer with off the farm career, and I haven't messed with crop insurance partly because parents never had it (revenue coverage) plus I'm not looking to add more complications to my life. Just curious on timing would it be best to wait until prices are higher to start?
It's really not that complicated, especially after you set up your policy.
You have to pick a policy, and if you're not looking for crushing analysis, just tell your agent that you want to maximize the subsidy, which I think is 65%, but he'll know. Then turn in your planting records. After that, unless you want to change your coverage it will automatically renew.
If you've been farming awhile, I think you can prove production and get higher coverage if your yields are better than county T yields, but it might be too late in the game for that.
I recommend that everyone takes advantage of the subsidy. I acknowledge that there are likely swaths of the cornbelt that won't get their premium back over a time, but there is money to be made if there is a failure. |
concerning crop insurance for the first time
