Status: AvailableThis tool returns estimates of premiums for available insurance products at each coverage election, and then calculates the expected frequency of payments, average payments, net costs, and risk reductions associated with alternative crop insurance products and election levels in an easily understood format. A graphical summary of the probability of achieving various levels of revenue with each product is also provided along with a tabulation of guarantee levels provided for each product and election combination. The tool presents a case farm with the Trend-Adjusted APH in counties where offered, and a standard base case in other counties. This tool will be updated periodically throughout the signup period to reflect the most current price environment during which crop insurance purchase decisions are made. Load Payment Evaluator
Status: AvailableThis tool provides premiums that are useful when making crop insurance decisions for multiple crops. Estimates are for crops in states that are harvested in 2013. This tool will be updated periodically throughout the signup period to reflect the most current price environment during which crop insurance purchase decisions are made. Load Premium Calculator
Status: Available This spreadsheet tool contains four components. The first computes farmer-paid premiums for different user entered parameters. A "What-if" tool calculates insurance payments for user supplied prices and yields. A history of insurance payments and premiums can be found in the "Historical Analysis" section. The tool also allows comparison of farm yields to county yields.
Download Decision Tool (Requires Microsoft Excel - explicitly for Excel 2003 only)
Status: AvailableThis spreadsheet tool contains four components. The first computes farmer-paid premiums for different user entered parameters. A "What-if" tool calculates insurance payments for user supplied prices and yields. A history of insurance payments and premiums can be found in the "Historical Analysis" section. The tool also allows comparison of farm yields to county yields. Download Decision Tool (Requires Microsoft Excel)
IFES 2012: Overview and Impacts of Proposed Changes in the 2012 Farm Bill(January 4, 2013)
The main issue shaping the political debate around the 2012 Farm Bill is the desire to cut spending for deficit reduction. While farm programs do not represent the biggest piece of the Farm Bill pie, they are the main targets for program modifications and reductions in overall support as they become more difficult to justify with farm incomes reaching record levels. [farmdoc Daily] More...
IFES 2012: Crop Insurance - 2012 Performance and Updates for 2013(January 3, 2013)
Though final numbers will not be known until early 2013, crop insurance policies resulted in very large indemnity payments over a large region of the Corn Belt for both corn and soybeans for the 2012 crop. Policies that included the harvest price option benefitted significantly from the increased harvest prices (corn = $7.50 and soybeans = $15.39) relative to March projected prices (corn of $5.68 and soybeans of $12.55), and the resulting increased guarantees. Producers without claims benefitted from the higher market prices that accompanied the lower production due to drought. The Risk Management Agency has announced several important changes to available crop insurance programs for the 2013 crop year as well and these will be identified and discussed including substantial changes to group policies, extensions and expansions of the Trend Adjusted APH endorsement, impacts of rerating, and the likely impact of the payouts from this year's policies. [farmdoc Daily] More...
IFES 2012: Crop Insurance - Tax Reporting Optionsl(January 2, 2013)
Approximately 80% of Illinois farmers purchased various types of crop insurance on their 2012 crops. The total premiums for these policies were over $770 million. It is projected that the total claims will exceed twice the amount of the premiums. [farmdoc Daily] More...
Crop Insurance and Rental Arrangements: Lessons from the 2012 Drought(November 13, 2012)
The 2012 drought raised two issues related to crop insurance and rental arrangements. First, it appears that a significant number of share rent landlords did not take crop insurance, resulting in much lower returns for these share rent landlords. Second, variable cash rental arrangements typically have not included crop insurance proceeds in calculating rental payments, leading landlords to receive less of gross revenue than anticipated. Both of these issues are discussed below. [farmdoc Daily More...
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Information in this section is useful in a variety of crop insurance decisions. Click here for instructions on using the Crop Insurance Handbook.