Bulletin E-3415: Introduction to Crop Insurance for Field Crops released

Jonathan LaPorte<laportej@msu.edu>, MSU Extension -

A new resource from the Beginning Farmers DEMaND series

Wind-damaged wheat field.
Crop insurance is a cost-effective means to aid farmers in managing risks.

As a decision-maker on a farm, you will need to manage many risks. Production risk brought on by weather is one of the most challenging risks to manage. It can not only significantly damage potential yields, but also affect markets and revenues. Crop insurance was created as a cost-effective means to aid farmers in managing or reducing the impact of these risks.  

Provided through the United States Department of Agriculture (USDA) Risk Management Agency (RMA), insurance policies are based on crop history of individual producers or an entire area, generally a county. They provide protection against yield losses due to natural causes such as drought, excessive moisture, hail, wind, frost, insects, disease, and market volatility. 

Bulletin E-3415: Introduction to Crop Insurance for Field Crops reviews the basics of crop insurance and how its use can benefit your farm. This includes understanding the differences between yield and revenue policies, the ways each provides protection, and the advantages offered by each. There is also a review on how USDA RMA provides beginning farmers with additional benefits within crop insurance to assist in managing risks. 

Download your copy today and check out more resources from the Beginning Farmers DEMaND series at: https://www.canr.msu.edu/farm_management/DEMaND-Series/index  

This article was published by Michigan State University Extension. For more information, visit https://extension.msu.edu. To have a digest of information delivered straight to your email inbox, visit https://extension.msu.edu/newsletters. To contact an expert in your area, visit https://extension.msu.edu/experts, or call 888-MSUE4MI (888-678-3464).

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