Keep Your Farm Afloat in Times of Trouble.

The agricultural industry plays a pivotal role in sustaining communities worldwide. However, the inherent risks and uncertainties accompanying agricultural operations necessitate adopting extensive insurance coverage to protect these valuable assets. Whether you are a seasoned farmer, a ranch owner or simply interested in the agricultural sector, you should understand the importance of being adequately insured. 

What Is Crop Insurance? 
Crop insurance is a risk management tool designed to protect farmers from financial losses caused by unforeseen events that can damage or destroy their crops. Farmers can transfer a portion of their risk to insurance companies by purchasing crop insurance, which can help them financially recover when faced with crop failures or significant yield reductions. 

How Does Crop Insurance Work? 
Agriculture insurance aims to help relieve your financial burden when unexpected incidents occur. If an incident occurs that you think should be covered, you will file a claim with the insurance company explaining what happened and what was lost or damaged. Your insurer may then issue a payment, up to your policy limits, to help recover your losses if they agree it is a covered incident.  

Why Is Crop Insurance Important? 
The importance of crop insurance cannot be overstated. Agriculture is inherently susceptible to numerous perils, such as droughts, floods, storms, pests, diseases and market volatility. These risks can devastate farmers’ incomes, disrupt local food supplies and even impact the economy. Crop insurance plays a crucial role in mitigating these risks and ensuring the stability and sustainability of the agricultural sector. 

Types of Crop Insurance 
There are different types of crop insurance coverage, each designed to address specific crops or agricultural risks. Generally, crop insurance policies derive from two main categories: yield-based policies and revenue-based policies. The former may help insure against losses affecting the physical crop (i.e., hail damage); the latter may help insure against losses from a decline in crop revenue. Within each crop insurance category, there are various specific coverages. Your agent can help assess your needs and make coverage recommendations. 

Contact McCune and Reed Insurance to secure appropriate insurance for your New Jersey agricultural operations today.