Crop production and yield will be the factors that could make or break a farm and no benefit is perhaps more important to a farmer than crop insurance. Here’s why you need it.
Natural disasters are hard to predict, but when they do happen, they are likely to cause crop damage. When you purchase a farm insurance policy, be sure that crop insurance is included.
Crops aren’t the only thing farmers or ranchers need to think about though. Buildings, equipment, and livestock are all part of a working farm — and while essential to its operation, they are extremely costly. Protecting these with an insurance policy will only add to the stability and health of your farm or ranch.
One statistic from the EWG Farm Subsidy Database shows that the Federal government insurance program indemnity payout from 1995 to 2020 has risen 7 billion dollars.
The problem is, you can make all the best plans and something out of your control can still come along and take out your crops. Since you cannot predict these things, there’s very little you can do to prepare except hope and pray for a good season.
For more information on how you can minimize potential risk and financial ruin due to damage to your farm contact Northeast Nebraska Insurance for more information.