1. Crop Insurance Options For dairy farms
Ag-Analytics.org

2. Crop insurance Introduction Helps producers manage risk.
You pay an annual premium (subsidized by the government) to buy an insurance policy.
If your yields or revenues fall below a certain level due to covered losses (for example, too much or too little rain), you receive an indemnity payment.

3. Crop Insurance Products for Dairy Farms
Introduction
Crop Insurance Products for Dairy Farms
Single-crop policies for corn (for grain and silage), as well as most grains and oilseeds
Pasture, Rangeland, Forage
Livestock Gross Margin Insurance

4. Single-Crop Insurance
Products
Single-Crop Insurance
Corn grown as feed can be insured either as grain or silage
Several other grains and oilseeds are covered
Generally, losses related to weather, natural disasters, or price are covered
Losses for which the farmers is at fault are not covered
Example: A loss due to improper herbicide use would not be covered
Losses are verified by your insurer
You select your coverage level (generally 65-90% of yields or revenue), costs increase with high coverage levels, but in the event of a loss, indemnities will be higher

5. Pasture, Rangeland, Forage
Products
Pasture, Rangeland, Forage
Insures forage production against drought
Payments are triggered when rainfall drops below historical levels
NOAA’s Climate Prediction Center’s monthly rainfall data is used
Indemnities are paid automatically when local area rainfall is low – no recordkeeping required
To receive a loss payment the entire grid must experience below average rainfall, not the individual producer
No historical production records are required
Producers choose acreage and months to cover
Producers must choose at least a 2-month period where precipitation is important to their operation

6. Livestock Gross Margin
Products
Livestock Gross Margin
Provides protection when feed costs rise or milk prices drop
Gross margin is the market value of milk minus feed costs
Enrollment occurs monthly, covers 11 months
Indemnities paid when total actual gross margins over the covered, 11-month period are less than the gross margin guarantee
Farms participating in MPP are ineligible
For LGM, mentioned that there is a cap/threshold on participation that is sometimes met.

7. Premium Calculator Estimate your costs
Estimate your annual premium costs using the Crop Insurance Premium Calculator tool at Ag-Analytics.org/CropInsurance

8. Sign-up
Fill out your location and yield information based on your production history
This comment is for this and the next slide that shows increasing premium based on the level of coverage– you might consider adding a slide that defines in general terms how farm units are insured– for example define generally what a basic unit, optional unit, and enterprise unit is. A very basic understanding of units will help your audience know how unit division influences premium cost.

9. Sign-up
Then the tool will show you premium estimates for different levels of coverage…
This comment is for this and the next slide that shows increasing premium based on the level of coverage– you might consider adding a slide that defines in general terms how farm units are insured– for example define generally what a basic unit, optional unit, and enterprise unit is. A very basic understanding of units will help your audience know how unit division influences premium cost.
As a graph

10. Sign-up
Then the tool will show you premium estimates for different levels of coverage…
And a chart

11. 2017 Crop Insurance Deadlines
Sign-up: select deadlines
2017 Crop Insurance Deadlines
3/15: Corn, Forage Seeding (spring), Soybeans, Whole Farm Revenue
7/31: Forage Seeding (fall)
9/30: Forage Production
11/15: Pasture and Hay
Monthly: Dairy, Swine (Livestock Gross Margin)

12. Talk to an insurance agent
Sign-up
Talk to an insurance agent
Find crop insurance agents on the United States Department of Agriculture Risk Management Agency website at:
Ask a neighbor for a recommendation
Call your local Farm Service Agency to get a list of agents

13. Cornell University delivers crop insurance education in New York State in partnership with the USDA Risk Management Agency.
Diversity and Inclusion are a part of Cornell University's heritage. We are an employer and educator recognized for valuing AA/EEO, Protected Veterans, and Individuals with Disabilities.

14. Jennifer Ifft