It’s hard to believe that another year has passed, and we are off to a fresh start in 2023. The 2022 growing season brought many challenges. We started the year being too wet to plant, then we experienced lack of rainfall during some crucial times of the year resulting in production losses in some areas at harvest time. As we have learned over the past few years each crop season brings new challenges and obstacles to overcome, which is why it is extremely important to know that you have the right crop insurance plan in place.
Some key questions to consider before you meet with your insurance specialist are:
- How much coverage do I need? Will the coverage I choose be enough to cover my inputs and cost of production?
- What unit structure makes the most sense for my operation?
- If I was close to triggering a claim in 2022, would a higher level of coverage be more beneficial?
- Should I be looking at some additional coverages like Supplemental Coverage Option (SCO) or Enhanced Cover Option (ECO)?
- Do I have enough hail and wind coverage?
Added land/reduced land – if you have any added or reduced acres now is a good time for us to add or subtract that land from your operation. If adding land, will you be borrowing history?
Added county - Did you pick up added land in a different county?
New crops, practice, or types or varieties
Planting intentions - Planting intentions can be beneficial for a more accurate quote and to ensure that you meet the unit structure chosen
Administrative changes - address, phone number, marital changes, etc.
Entity changes - ex. individual, spousal, partnerships, LLC