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Crop Insurance: Final Versions of Spring 2020 Tools Released

The Spring 2020 Crop Insurance Tools were released on March 1. This includes the iFarm Premium Calculator, Payment Evaluator and Price Distribution tool available online and the FAST Decision Tool available as an Excel spreadsheet.

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Crop Insurance Tools

Crop Insurance Premium Calculator

The 2020 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 2020 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 – 2020 Spring

Calculates premiums, evaluates insurance payments, and provides historical data useful when making crop insurance decisions for multiple crops. Estimates are for crops in states that are harvested in 2020.…

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Revenue Protection: The Most Used Crop Insurance Product

There has been a great deal of innovation in the crop insurance industry since the early 1990s. New products have been introduced, subsidy rates have been increased, and farmers have increased crop insurance use. We summarize trends in crop insurance…

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Crop Insurance Performance in 2019

Late and prevented planting were prevalent across the Midwest in 2019. Prevented planting payments made up about one-third of total crop insurance payments, and those counties with large amounts of prevented plantings also had higher insurance payments than counties with…

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Prevented Plant Impacts on 2019 Illinois Grain Farms Incomes

In 2019, many farmers in Illinois had prevented plant (PP) acres, acres that couldn’t be planted due to excessive moisture throughout the planting season. Previous analyses indicated that taking PP was an economically better alternative than planting. Even given its…

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