[Listen] Kent Thiesse Crop Insurance Decisions
Monday March 15, 2021 is the deadline for purchasing or changing your crop insurance if you have multi-peril or one of the revenue products. If you had one of these products last year they will automatically renew at the same levels as the previous year. Hail insurance and the wind indorsement on corn can be added at anytime. Many farmers add this later when the crop is planted.
The good news this year is that the spring price for corn and beans is the highest it has been since back in 2012 and 2013. That means we have some very good guarantees at the 80 or 85 percent levels. The bad news is because you are "buying" higher dollar per acre coverages the cost is higher too! Plus, the volatility index is higher because the price of corn and beans have more downside risk.
I call crop insurance "my sleeping insurance" and I thing many ag bankers feel the same way! Click on the link above and listen to Ag Analyst Kent Thiesse from Lake Crystal discuss your crop insurance options for 2021.