Farmers and ranchers have one thing in common: the need to manage risk, from weather, markets, or other forces.
Crop insurance can be a useful tool for farmers and ranchers in managing risk. But, while crop insurance is readily available for major crops like corn and soybeans, many farmers and ranchers could benefit from learning about risk management options for more niche crops.
Three fact sheets recently released by the Center for Rural Affairs address a variety of lesser-known crop insurance options. “Whole Farm Revenue Protection” reviews a crop insurance option which can cover the revenue on many types of crops and livestock. “Livestock Revenue Insurance for Feeder Cattle” goes over options for covering feeder cattle. Finally, “Crop Insurance 101” provides essential tools for someone starting out with crop insurance and reviews how to decide which option is right for an operation.
There can be several reasons why many farmers and ranchers don’t buy crop insurance. Maybe they don’t feel like there is an option applicable to their operation. Maybe they don’t know how to find a crop insurance agent to work with, or don’t know what questions to ask when they meet with an agent. These resources are a good place to start.
To view the fact sheets, visit cfra.org/crop-insurance-resources.