We’re all about community here at M&P and ensuring that the livelihood of our neighbors is protected. We know how important our farmers are to the economy, and how important our farmers’ crops are to them. We also know that none of that would be possible if they lost everything during weather-related damage.
Imagine if there was a succession of bad weather, or even one tornado or a severe hail storm. Much of those crops, the granaries even, might be destroyed. Everyone loses out when that happens, but none more so than the farmer. It’s vital to protect your income and your livelihood. That’s why Federal Crop insurance is now offered by insurers; as are crop-hail policies, regulated by each state’s insurance department.
If you’re one of our community’s farmers, make sure to come in and talk to us about this protection for your crops—who knows what the weather’s bringing with it tomorrow!
We’ve all read the stories, the history, of one crop failure or severe storm wiping out everything planted and/or stored. Livelihoods were lost, leading to the loss of homes, food, and life. In 1880, private insurance companies began to sell a specific insurance policy that would protect farmers from hailstorm damage. These were called, appropriately enough, “crop-hail policies.” They still exist, and have become regulated by each state’s governmental insurance department.
In 1981, the Federal government began offering a regulated “multi-peril” crop insurance. As you’d imagine from the name, this protects against a wide variety of natural disasters (fire, flood, drought, freeze, etc.). It also protects against possible revenue loss in case of price decline. This insurance is, of course, also regulated, and sold by private-sector crop insurance companies and agents.
Premiums are regulated and established by the Federal Crop Insurance Corporation, giving you the peace of mind knowing your cost is constant. We have extensive experience with crop insurance, and look forward to helping you make sure you’ll always be able to put food on your family’s table even if weather brings damage to your crops.
Copyright 2020 M&P Insurance Services.