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.
Latest in Crop Insurance
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.
Crop Insurance Tools
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.
The 2020 iFarm Crop Insurance Payment Evaluator provides helpful information to producers comparing costs and risk reductions across their available crop insurance alternatives.
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.
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.
Crop Insurance Decisions for 2020
The 2020 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 3/15 sales closing date (SCD). For the majority of the Cornbelt, the approved…
Historical Look at SCO (Supplemental Coverage Option) Participation
Supplemental Coverage Option (SCO) insurance is generating considerable discussion. This article reviews historical participation in SCO using data from USDA, RMA’s (US Department of Agriculture, Risk Management Agency) Summary of Business website. Objective is to provide perspectives on historical interest…
IFES 2019: What Did We Learn from Delayed Planting: Farm Management Implications
In 2019, much of the Illinois corn crop was planted in June, with many acres planted after final planting dates for crop insurance. Because planting occurred after final planting dates, farmers could have taken prevent plant payments on corn policies.…