When you work with a SBCP's Crop Insurance Specialist you will be working with someone that is a colleague in agriculture. With more than 120 years of combined experience in Agriculture and Crop Insurance our specialists can provide you with numerous protection products for your business. They include:
Revenue Protection (RP)
- RP guards against a loss in revenue caused by low prices, low yields or a combination of the two.
- RP provides the most complete protection, allowing you to market your crop more aggressively.
Yield Protection (YP)
- YP protects against low yields that are a result of weather conditions, but does not include price protection.
Crop Hail Insurance
Hail is one catastrophe that could destroy part of your crop while leaving the rest completely untouched. In many cases, the hail damage ends up being less than the deductible on your RP or YP policy. You may want to consider carrying a Crop Hail policy to fill that gap.
- Crop Hail provides coverage acre by acre.
- Choose your coverage level of $100 to $1,000 per acre on corn and soybeans.
- Claims are paid independent of any multi-peril policy coverage (you may collect on both policies).
- You may choose a deductible or no deductible.
- Many different endorsements to choose from including wind, green snap and extra harvest.
- Basic hail insurance also covers lightning, fire, vandalism and transportation.
- The premium rates are very affordable.
Area Risk Protection Insurance (ARPI)
With county-based protection, your individual yields don’t matter.
Area Revenue Plan (ARP)
- ARP pays the loss if the combination of the county yield and the CME price falls below the guarantee.
Area Yield Protection (AYP)
- AYP pays the loss if the county-based yield comes in below expected, but does not include price protection.
Margin Protection (MP)
- MP provides producers with coverage against an unexpected decrease in their operating margin.
Dairy Revenue Protection (DRP)
- The DRP insurance policy puts a floor on your milk price up to 5 quarters into the future. Protection and premiums change daily as Class III milk prices change on the Chicago Mercantile Exchange (CME). Contact an SBCP agent for updates on this dairy risk management tool.
Livestock Gross Margin & Dairy Insurance
- LGM Dairy, uses futures prices for corn, soybean meal and milk to determine expected and actual gross margin - the market value of milk minus feed costs. LGM Dairy is a USDA federally regulated program through the Risk Management Agency and can be tailored to fit different dairy operations.
Do All Crop Insurance Policies Cost the Same?
Yes, the underlying crop insurance rates are set by the federal government. Like in most insurance, the difference comes in the options that you select for your policy. Each year, new crop insurance options become available. Our SBCP specialized crop insurance agents will meet with you to discuss all options. Your crop insurance policy should be personalized to you and your operation.
For quotes and more information: please contact Jessica Sarbacker Heather Golz and Emily Johnson or call (608) 490-2234
Contracts are products of the insurance industry. Not a deposit or other obligation of the bank. Not guaranteed by the bank or affiliated company of the bank, or insured by the FDIC. This entity is an equal opportunity provider.