CORN POLICIES

Things to Consider

Our team at Agriliance insures corn in many different states across the country and we provide risk management advice for each farm individually.  All farms have different risk depending on location, financial risk tolerance, markets, soil types, access to irrigation, etc and it is our goal to provide a risk management solution that fits the needs for every operation that we have the pleasure of doing business with.

The Risk Management Agency (RMA) administers crop insurance policies for corn in all 50 states and has different options and tools for farmers to protect their financial risk during the growing season. Also, we have partnered with several different Approved Insurance Providers (AIP’s) who offer many different private products that can help supplement a corn farmers risk management plan. Please give us a call to discuss your corn crop insurance plan and learn how we can add value to your specific operation.

Building Policy Unit Structure

Important Options to Elect

There are many factors that weigh on a farm’s risk management plan for a corn crop each given year. While the coverage level and unit structure are a big part of the decision, the options that a farmer elects can be just as important to their bottom line. Below are several options that should be considered when choosing corn coverage.

Yield Adjustment

Yield Adjustment

Yield adjustment replaces a low yield for a particular year in a producer’s APH database with a yield equal to 60% of the county t-yield.

Yield Cup

Yield Cup

Yield cup keeps the approved yield for each farm from dropping more than 10% as new yield records are added each year.

Yield Exclusion

Yield Exclusion

Yield exclusion allows certain years to be removed from a farm’s production history. To be eligible for exclusion, the county yield must be at least 50% below the simple average of the county yields for the previous 10 consecutive crop years.

Trend Adjustment

Trend Adjustment

Trend adjustment increases a farm’s guarantee by adjusting the yield history upward in accordance with the trend adjustment factor established by the county. This option allows a producer’s 10-year production history to match his/her current yield potential.

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Level by Practice

Level by Practice

Where applicable, an insured may select different levels of coverage for irrigated and non-irrigated practices. For example, a producer may elect to insure irrigated acres at a lower level than non-irrigated acres.

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Supplemental Coverage Option

SCO

The supplemental coverage option provides additional coverage for your underlying crop insurance policy. SCO losses are paid on an area-wide basis and are only triggered when the county falls below 86% of the expected yield or revenue. The government subsidizes 65% of the SCO premium. ARC/PLC elections at FSA will affect product eligibility.

Private Products

It may be time to consider private products that provide more risk management options for corn. Below are several private products that help manage market and weather risk in conjunction with the underlying multi-peril crop insurance policy.

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Price Flex/Select

Price Flex/Select

These private products help us establish a higher planting price guarantee when the market is volatile and shows better opportunities outside of the standard price discovery windows.

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Hail and Wind Coverage

Hail and Wind Coverage

This is an additional product that can be bought along with your MPCI insurance coverage that protects against hail and wind in most areas. We typically like to see this on irrigated corn but it is also a fit for non irrigated corn in many areas.

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