If you work in agriculture, you know that various events, weather-related or otherwise, can affect both your crop and financial yields. Agriculture insurance can help provide financial protection in the face of unforeseen events that would otherwise negatively impact your business.
The broadest area of coverage is for naturally occurring events. Multi-peril crop insurance provides protection in the face of events such as drought, disease, or insect damage that lead to lower crop yield. This type of agriculture insurance covers most natural occurrences.
For one specific type of natural event, there is a specific type of coverage. “Crop-hail” policies specifically provide coverage for hail damage, up to and including hail damage that requires an entire crop to be replanted.
Low Yield and Fluctuating Prices
Many things can affect crop yield and cause it to be low, thus impacting your finances. Even if no natural events affect your crop yield, fluctuating prices can also affect your income. Crop revenue insurance provides protection in the event that your are poised to make less money for either of these reasons.
Agriculture can be an unpredictable business. Luckily, agriculture insurance can provide protection and peace of mind in the event of natural and other occurrences that could otherwise hurt your finances.