Farmers generally raise crop or livestock, and their work involves many hours of back-breaking labor under hot sun or torrential rainfall and in all types of weather. This work is dependent on several and various factors such as environment, climate, soil conditions, mechanization, market factors, demand and supply amongst many others. Many of these conditions are, though predictable to a certain extent, completely unreliable. Insurance is a business that deals with an entity providing protection against a possible eventuality and in particular, farmers’ insurance can eliminate, or at least limit threats from liability, fire, automobile accidents and crop failures.
Farmers’ insurance needs to cover many factors so that it ensures survival, minimization of risks and losses and ensures continuity in business. Farmers’ insurance quotes can cover several areas, for instance –
- Crop insurance policy to cover loss of quality, reduced yield and/or revenue losses – which could also specifically be crop-yield insurance and crop-revenue insurance and/or loss of crop due to natural disasters;
- Multiple peril crop insurance provides protection against loss due to acts of nature, disease and other unavoidable risks, but could also cover only specific crops;
- Crop-hail insurance for yield reduction by hail;
- Named peril coverage for claiming insurance against specifically listed causes in the policy.
- Crop revenue coverage for protecting against low yields, low prices or a combination thereof;
- Group risk plan of insurance for widespread loss of production in a county instead of an individual farm.
The United States Department of Agriculture has Risk Management Agency (referred to as RMA) that helps farmers manage their business risks with farmers’ insurance. The RMA operates and manages the Federal Crop Insurance Corporation which, amongst other things, provides crop insurance quotes to farmers. Several private insurance companies sell and service these insurance policies. Most are willing to provide competitive insurance quotes when you contact them via phone or in person.
For obtaining quotes, purchasing a farmers’ insurance policy or for claiming insurance, there are agents involved in processing the claims. The RMA provides for a list of agents. The URL http://www3.rma.usda.gov/tools/agents/companies/indexCI.cfm contains the latest list of farmers’ insurance providers for crops and the URL http://www3.rma.usda.gov/tools/agents/companies/indexLPI.cfm contains the latest list of farmers’ insurance providers for livestock price insurance. Most of the websites of the insurance companies provide for direct contact to obtain quotes for farmers’ insurance. Alternatively, the agents will obtain a quote for the farmers. In one instance, Farmers Union Insurance provides for an online form to be filled where they subsequently send you emails with quote information and an agent of theirs will contact you to discuss your specific requirements in detail.
The information provided in this article should work as a stepping stone to getting the best farmers’ insurance quotes.