For many farmers, managing risk can be compared to following your grandmother’s recipe for made-from-scratch biscuits. When made correctly, the right ingredients (or tools in this case) can provide extensive coverage against crop losses. Unfortunately, Mother Nature doesn’t always follow the recipe when it comes to the weather, leaving many farmers with questions surrounding the new farm bill.
As you plan for 2018, here’s why we think you should become proactive about crop insurance:
Life on the farm can be very busy, which leaves little time to manually keep your records in order, so you can report numbers to your crop insurance agent. With our platform, recordkeeping and reporting are easier than ever. We use the data you collect during your normal farming operations, format it to meet the reporting requirements of crop insurance companies, match it to the CLUs required for USDA acreage and production reporting and produces reports by land or geography.
Uncertainty and Risk
As we move further into 2018, it is possible that weather conditions could stress the need for farmers and producers to be more proactive about insurance. Several producers use products beyond multi-peril crop insurance to safeguard revenues. Currently, the future of those products is uncertain as Congress begins work on the farm bill.
To empower farmers to weigh in with feedback and suggested changes, the new farm bill needs to win approval by September 2018. After that, the Farm Service and Risk Management Agencies typically will need approximately six months to draft new rules and regulations.
Looking to simplify your farm reporting process? Schedule a free demo with our team to learn more.