Crop Insurance

There are two main types of crop yield insurance available, which come under the category of types of agricultural insurance product.

It is self-explanatory what crop insurance guards against - unforeseen problems with crops that lead to a loss of revenue: for instance destruction due to a particularly severe or early frost and so on.

The first type is multi-peril crop insurance: here one can insure against more than a single type of risk, so for instance more than one adverse weather phenomenon can be included in a single package.

This is contrasted with a single type insurance that guards against one particular problem - typically something like hail insurance.

It is also possible to take out crop insurance relating to the income that is generated by the crop, which does not relate to weather conditions. This is to do with the actual price of a crop. Because as we know, prices vary over time, so a crop revenue insurance product is one that will help to cover any decrease in price that happens to occur during the time that the crop is grown (its growing season).

Many governments around the world offer some sort of subsided insurance program for farmers, so it is well worth looking into what is available in your country. For instance it could be that they will pay a certain percentage of the premiums for an insurance product, so it is well worth looking into these. If you are with a large bank that has expertise in the agricultural market, your banking relationship manager should be able to knowledgeable in this area so do ask for their advice.

Related Articles...

Vehicle Insurance Vehicle insurance is the category of insurance products that cover, surprisingly enough, vehicles. These can be any sort of vehicle that you can think of, with of course the most common product... Bicycle Insurance Bicycle insurance, as with all insurance products, gives you a way to deal with the risk of having something happen to your bicycle - depending on the product you choose - and therefore having the... Agricultural Insurance Agricultural insurance is a niche type of insurance product that is available for those who work in specific areas of agriculture. This type of product could offer piece of mind against various... Contents Insurance Contents insurance is a type of insurance product that covers the items that you have - the contents - of your home. There are a range of different providers of contents insurance out there on... Van Insurance Most people know about car insurance, but what about van insurance? Clearly if you drive a van then you need to know about van insurance. There are various different types of van insurance which... Travel Insurance One of the most common forms of insurance product is travel insurance. Wherever there is travel involved, there is invariably risk, and infact a range of risks, and therefore an insurance product... Property Insurance Property insurance is a product that applies specifically to property, and has various different types of specific that are subsets of the general umbrella term 'property insurance'. Specific... GAP Insurance If you have bought a car in recent times, then you will probably have come across GAP insurance as the vendor will have asked you if you want GAP insurance or not. If you are not familiar with... Reinsurance The concept of 'reinsurance' is quite an interesting one. It comes down to the same sort of logic as 'who will guard the guards?' - in this case who will insure the insurers. The answer is, other... What Is Insurance? What exactly is insurance? It sounds like a very basic concept, but it is important to know what insurance is, in order to work out why insurance is so essential to modern-day activities, and why...