NAFB–Choosing the right crop insurance protection option can be a challenging decision. The revenue protection products, the supplemental coverage option, and the Enhanced Coverage Option each provide different benefits. Dr. Jim Mintert is the director of the Center for Commercial Agriculture at Purdue University, and he says farmers need to be ready for ‘sticker-shock’.
Dr. Jim Mintert talks about what farmers need to keep in mind if they’re looking at the Supplemental Coverage Option, and says the Center isn’t high on the SCO coverage option.
Dr. Jim Mintert calls the Enhanced Coverage Option the “new kid on the block” and says it’s likely most attractive to farms that can’t afford any significant downside revenue risk from current and predicted levels.
Mintert recommends producers check out the crop insurance computational tools available through the University of Illinois at https://farmdoc.illinois.edu/crop-insurance. You can also find basic crop insurance information on the University of Missouri Extension website https://extension.missouri.edu/publications/mp749