| Insurance policies, in general, are directed against | | | | they could strip your land off its nutrients. Crop |
| specific risks. Agriculture insurance is no exception. | | | | insurance is also a good option though it is offered |
| Whether you opt for farm bureau insurance, farm | | | | only at private insurance companies. Marketing risks |
| insurance, farm auto insurance, or horse insurance, | | | | are also to be thought of considering the increasingly |
| there are risks you must be sure to protect your | | | | competitive market. To develop an effective |
| property against. It is likely that most farm insurance | | | | marketing plan, it is important to assess the demand |
| companies cover these risks but it could never hurt | | | | and the supply of your crops. Research crop prices |
| anybody to be sure and know how losses posed by | | | | and price your crops competitively. This does not |
| these risks are determined and prevented. | | | | mean that you lower your price but to include |
| In choosing farm bureau insurance, farm insurance, | | | | production and transportation costs, and market price |
| farm auto insurance, or horse insurance, keep in mind | | | | in placing value on your crops. An efficient marketing |
| these risks and how to prevent them. Production | | | | plan can ensure a consumer base for your crop, |
| risks are generally considered as risks stemming from | | | | thereby reducing risks of crop rot and low income |
| weather conditions, pests, crop diseases, technology | | | | returns. |
| malfunction, genetics, and the kind of the seeds, | | | | Traditionally, agriculture insurance is multi-peril, which |
| pesticides, and fertilizers used. To prevent losses due | | | | means that it covers marketing and production risks. |
| to production risks, crop variation is recommended. | | | | Multi-peril insurance basically involves compensation to |
| This could mean planting different crops in one | | | | the farmer for shortcomings like a lower yield than |
| season or raising livestock and crops together. This is | | | | what the policy requires. In some cases, this |
| an expensive risk reducing method because this | | | | spawned improper insurance use which led to |
| would require greater capital and investment. | | | | unnecessary risk taking like planting crops in |
| However, in the long run, greater savings can be had | | | | inappropriate locations. This increases the growers' |
| from opting for this risk prevention method. An | | | | risk of incurring losses. Farm bureau insurance, farm |
| economical method is to use technology to your | | | | insurance, farm auto insurance, and crop insurance |
| advantage. Use genetically altered crop seeds for a | | | | can save you from losses but no agency would offer |
| bigger crop yield. In addition, this method controls the | | | | you insurance if you are extremely high-risk. It is |
| growth of weeds and improves the crops' resistance | | | | therefore important to undertake risk reduction |
| to pests and diseases. Pesticides and chemical | | | | methods such as those mentioned above to prevent |
| fertilizers are to be used only as directed because | | | | losses in the future. |