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Crop Insurance Tools

Crop Insurance Premium Calculator

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.

Crop Insurance Payment Evaluator

The 2024 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

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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Budget-Driven Crop Insurance Coverage Options for 2024

Relative to 2022 and 2023, 2024 is projected to be a low to negative margin year for many grain farmers in Illinois. Because of lower commodity prices, per acre guarantees…

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Crop Insurance Decisions for 2024

The 2024 price discovery period used to determine projected prices and volatility factors for Federally-sponsored corn and soybean crop insurance products is completed for areas with a March 15th sales…

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First Look at Crop Insurance Decisions for 2024

Given corn and soybean futures prices in the first half of February, projected crop insurance prices will be lower than in 2023, resulting in lower per acre premiums in 2024. Premiums are likely to be 16 to 18% for lower for corn policies and 10 to 12% lower for soybean policies based on current estimates in Champaign and Jefferson Counties in Illinois. Since lower insurance prices also result in lower guarantees per acre, farmers may wish to increase coverage levels with the premium savings.

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