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