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Crop Insurance Tools

Crop Insurance Premium Calculator

The 2022 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.

Crop Insurance Payment Evaluator

The 2022 iFarm Crop Insurance Payment Evaluator provides helpful information to producers comparing costs and risk reductions across their available crop insurance alternatives.

Price Distribution Tool

The iFARM Price Distribution Tool uses current option market prices to derive estimates of the probability distribution of prices at the expiration of an underlying corn and soybean futures contracts.

Crop Insurance Decision Tool – Wheat – Fall 2023

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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Post Application Coverage Endorsement Tool

This program calculates premiums for PACE: Post Application Coverage Endorsement Insurance.

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ECO/SCO Payment Estimator

With this program, a user can estimate payments for individual farm level crop insurance products in addition to SCO and ECO.

Crop Insurance Summary of Business Tool

This program calculates crop insurance historical use and performance back to 1996…

Cover Crop Analyzer

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.

Margin Protection Tool

With this program, a user can examine the performance of margin protection insurance.

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Crop Insurance Articles

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Understanding the Relationship between Loss Ratios and Crop Insurance Subsidies

The purpose of this article is to document the relationship between actual subsidy rates and loss ratios in crop insurance products, and to provide implications for policy initiatives that are…

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2023 Harvest Prices and Revenue Insurance Payments for Corn and Soybeans

The 2023 Harvest Prices are now set at $4.88 for corn and $12.84 for soybeans. This is a 17% decline from the $5.91 projected price for corn, and a 7% decline from the $13.76 projected price for soybeans. Because the Harvest Price is below the Projected Price for both crops, revenue policies will trigger the same payments regardless of whether they include the Harvest Price option (RP) or not (RP-HPE).

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Potential Crop Insurance Payments for 2023

In today’s farmdoc daily article, we examine how the price discovery period for the harvest prices for corn and soybeans is currently underway. Through October 9th, settlement prices for the harvest contracts for corn (December) and soybeans (November) suggest harvest prices will be below projected prices. Lower harvest prices combined with yields at or below APH yield levels could result in substantial crop insurance indemnities for revenue products.

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