| Published: March 15, 2024

Understanding Your Crop Insurance Coverage Quote

Flooded Corn Field

by Joel Alsdorf, Crop Insurance Agent


“As days lengthen, the cold strengthens,” my grandfather often said, contrasting it with his other favorite saying, "make hay while the sun shines." As farmers, we use this time to manage crucial details, from maintenance and repairs to pre-ordering seeds and chemicals, all setting the stage for the year ahead. Amidst these decisions, reviewing your crop insurance program's value is essential. Though overwhelming at times, your policy should provide peace of mind, allowing you to focus on field work during sunny days. 


Your relationship with your crop insurance agent should ensure confidence in your decisions. Your Farm Credit agent uses their expert training to help you understand available options, often expressed through quotes. Quotes may seem complex, however they simply compile numerical values for easy comparison. Your agent will tailor a quote to fit your operation, considering factors like risk management, profitability, and budget. 


Developing a strong relationship with your agent is key. Let's unpack the basics of quote analysis and define what information is included in your crop insurance quote: 

  • Plan type: Abbreviations like RP (Revenue Protection) or YP (Yield Protection)
  • Unit Structure: BU (basic unit), EU (enterprise unit), OU (optional unit)
  • Coverage Level: Typically 50-85% indicating deductible percentage
  • Acres: Total or easily calculable number
  • Average Yield: Your own or county average
  • Total Coverage: Dollar value guaranteed per acre
  • Total Subsidy: Government-subsidized amount per acre
  • Producer Premium: Cost per acre after subsidy
  • Fees: Premium and processing fees


Crop insurance quotes can feel overwhelming, but your agent can help. Understanding your operational goals ensures quotes meet your needs. Reach out to your agent as you plan for the year ahead. 


When you’re ready to review your policy, or learn more about how crop insurance can benefit you and your business, give us a call to speak with a member of our crop insurance team today at 888.339.3334 or click here to learn more.

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