Crop Insurance

Crop Insurance: What You Need to Know to Keep Business Growing

As harvest season begins to wind down for agricultural farmers, you may find it’s a good time to reevaluate the areas of your business that need attention. One important area that deserves a good onceover is making sure you have adequate crop insurance in the event of a loss. At La Porte Insurance Agency, we are here to make sure your farmland is covered and answer any questions you may have.

What is crop insurance?

Crop insurance is insurance purchased by agricultural farmers to protect against the loss of crops due to naturally occurring events such as weather or plant disease.

crops insurance wheat field
types of crop insurance

What are the types of crop insurance?

There are two distinct types of crop insurance – Multi Peril Crop Insurance (MPCI) and Crop-hail Insurance. 

  • MPCI is an insurance that covers crop losses caused by naturally occurring events like disease, drought, fire, flooding, insect damage, or destructive weather. This type of insurance is federally supported and regulated and is the more commonly purchased type of insurance. MPCI covers more than 120 different varieties of crops, but not all crops are covered in each geographical area. These policies are purchased annually and must be purchased before the crop is planted.
  • Crop-hail Insurance is an insurance specifically for parts of the country where hail is a frequently occurring event. Crop-hail Insurance is not federally funded and is sold through private insurers. Many farmers choose to add Crop-hail Insurance to their policies in addition to MPCI. Crop-hail Insurance typically has a lower deductible because most of the time, the claim is lower than what would be needed for MPCI. And unlike MCPI, this type of insurance can be purchased at any time.

Why do I need crop insurance?

In short, crop insurance provides a safety net against elements outside of your control. While we hope you never see a loss, crop insurance works to help farmers navigate the circumstance and rebound from the monetary burdens in place from a clean up and crop loss. Crop insurance provides the peace of mind to know there won’t be a struggle in the event of a large loss.

How can I know I’m protected?

The best way to ensure that you and your assets are adequately covered in the event of a loss is to work with a trusted, experienced agency. Contact us today at 219.324.2600 to discuss your individual needs.