Crop Insurance Tools
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.
The 2024 iFarm Crop Insurance Payment Evaluator provides helpful information to producers comparing costs and risk reductions across their available crop insurance alternatives.
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This program calculates crop insurance historical use and performance back to 1996. …
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.
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2024 Low Returns, Prices, and the Federal Safety Net
A steep decline in prices across years has resulted in low to negative average returns to Midwest farms in 2023 and projected for 2024. Crop insurance programs are not designed to cover the risk of multi-year price declines and current commodity title programs are also expected to provide little relief for these low prices. Modifying commodity title programs to make them more market-responsive would aid in providing relief to farmers.
Crop Insurance as a Payment Program
Since 1989, the role of crop insurance as a payment program has tripled, even after taking into account the increase in economic cost of production per acre. The increase in crop insurance’s payment function is enough to prompt an important policy question: “Has the US crop insurance program become a payment program that also provides growing season risk coverage or does it remain an insurance program that makes payments triggered by a covered risk event?”
Introducing the Crop Insurance Summary of Business Tool
Information on crop insurance performance is now available in a new spreadsheet tool in the farmdoc FAST Tool lineup. The Crop Insurance Summary of Business Tool provides county-level summaries of…
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.