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Crop insurance plays a vital role in any grower’s risk management plan. It’s an essential tool that provides protection against natural disasters and other losses that would otherwise result in a major financial setback. One of the most popular types of coverage in this category is multi-peril crop insurance, which is designed to cover various hazards under one policy. For farmers in southeast Nebraska, Nebraska Crop Insurance Agency is the go-to source for high-quality insurance products at affordable rates.

Below, the agency goes over some important aspects to understand about multi-peril crop insurance:

What It Covers

multi-peril-crop-insurance-beatrice-neWith multi-peril crop insurance policies, growers receive coverage for crop losses that may be caused by numerous natural disasters. This includes drought, excessive moisture and flooding, extreme freeze or heat conditions, disease, fire, wildlife, and insect damage. In some cases, it is also possible to add coverage for low yields and changes in market prices.

How Rates & Coverage Are Established

Multi-peril crop insurance policies are written and delivered by private insurers but supported and regulated by the federal government. The U.S. Department of Agriculture has authorized a certain number of companies to sell this type of coverage, but they maintain control over setting the rates and deciding which crops are insurable. Coverage availability will vary based on geographic region.

When to Buy Coverage

Multi-peril policies must be purchased before planting begins. The government sets specific deadlines for each growing season, but it’s a continuous policy that will remain in effect every year after the initial application. This is different from crop-hail insurance, which can be bought at any time during the growing season.

There are several benefits to buying a multi-peril crop insurance policy. This kind of coverage offers growers greater financial stability and increased peace of mind knowing they are protected from unexpected and sudden losses. Contact Nebraska Crop Insurance Agency at (402) 223-2694 to request a free quote, or visit their website for additional information.

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