Crop Insurance Tools
The 2024 iFarm Crop insurance Premium Calculator allows users to develop highly customized estimates of their crop insurance premiums, and compare revenue and yield guarantees across all available crop insurance products and elections for their actual farm case.
The 2024 iFarm Crop Insurance Payment Evaluator provides helpful information to producers comparing costs and risk reductions across their available crop insurance alternatives.
This program calculates premiums, evaluates insurance payments, and provides historical data useful when making crop insurance decisions for multiple crops. Estimates are for crops in midwest and southeast states. Learn more on the farmdoc Daily crop insurance archive.…
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This program calculates crop insurance historical use and performance back to 1996. …
The cover crop project seeks to provide farmers with a practical web-based decision support tool designed to help manage cover crops in their fields. The project makes use of existing research to demonstrate the potential for cover crops, as well as providing useful information for decision making and management of this practice. It will also seek to apply future research on cover crops as results are incorporated into updates and new iterations of the tool. This remains a work in progress with a goal towards adapting with the science.
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Crop Insurance Decisions for 2025
The price discovery period for federal crop insurance policies with a March 15th sales closing date ended on February 28th. Insurance guarantees for 2025 are low compared to the 2022 and 2023 crop years when projected prices were higher for both corn and soybeans. This coupled with a higher subsidy rate for 2025 might make the Enhanced Coverage Option (ECO) of greater interest to producers to supplement their Revenue Protection (RP) or alternative individual plan coverage.
Enhanced Coverage Option for 2025
Farmers may wish to consider the Enhanced Coverage Option (ECO), a county-level crop insurance product, because its premium in 2025 is lower than in 2024 and because Revenue Protection will likely cover less of the 2025 cost of production. Note, however, that many counties would not have had payments exceeding farmer-paid premiums from 2015 to 2023, even with the increased subsidy rate. Premiums for all Federal products can be obtained using farmdoc’s 2025 Crop Insurance Decision Tool.
Update on Historic Use of Crop Insurance Products in Illinois
Revenue Protection (RP) remains the most popular crop insurance plan used by Illinois farmers to insure their corn, soybean, and wheat acreage. In 2024, RP was used on 95% of…
The farmdoc Crop Insurance section offers iFARM online tools including the Premium Calculator, Payment Evaluator and Price Distribution Tool. These tools are updated annually during the Spring crop insurance election period.