Focus on your crops. We have you covered.
Crop insurance in Cherokee, OK, Wakita, OK, Enid, OK, Alva, OK and Wichita, KS.
Natural disasters like hail, floods and droughts can be devastating. Protect your business from crop loss with crop insurance.
With our heavy specialization in agriculture, our agency has access to every type of crop, farm and commercial product available. Contact us today and we can help provide an analysis of your operation and see what is missing, or what needs to be removed from your current Risk Management Strategy.
Our Crop Insurance Products include:
Revenue Protection (RP)
This program provides protection against revenue loss due to a decline in both crop prices and yields. Producers may select from a variety of coverage levels to personalize their policy. If the actual yield falls below the yield guarantee or if the actual revenue falls below the minimum or revised revenue guarantee, an indemnity is paid. RP provides a minimum revenue guarantee that can increase as much as 200% over the minimum guarantee if the crop insurance harvest price is higher than the projected price.
Yield Protection (YP)
Yield Protection (YP) policies provide protection against a loss in production below the predetermined guarantee. Producers may select from a variety of coverage levels to personalize their policy. The insurance yield is based on a policyholder’s actual production history, which is the average yield obtained on the insured unit for four to ten consecutive years. If the average yield per acre is less than the yield guarantee, an indemnity is paid. The projected price is determined in accordance with the Commodity Exchange Price Provisions and is based on daily settlement prices for certain futures contract. The producer selects the percent of the projected price he or she wants to insure, between 55% and 100%.
Catastrophic Risk Protection (CAT)
This program provides the lowest level of yield protection available. CAT insures 50% of production at 55% of the base price for a fee of $300 per crop. CAT has no optional units and does not pay for replants. CAT coverage provides very little coverage for the producer, and is only advised in certain situations.
Pasture, Rangeland and Forage (PRF)
Pasture, Rangeland and Forage Insurance is a highly subsidized plan of insurance and is therefore extremely affordable. PRF offsets the cost of additional feed expenses in times of drought so your bottom line stays healthy. It is a simple product for the producer, as there are no record keeping or claims processes to endure. A producer can protect up to 90% of normal rainfall on their grassland or hayland.
RI (Rainfall Index)
The Rainfall Index (RI) plan of insurance is a risk management tool to insure against a decline in an index value that is based on the long-term historical average precipitation for an approximate 17×17 mile grid over specific two-month time intervals. A minimum of two index intervals must be selected for acreage insured under the RI plan. The insured selects which index intervals to cover and the amount of coverage. Selection of index intervals is critical to the effectiveness of the RI plan as a risk management tool. Coverage is based on indexes for the grid, not the producer’s actual rainfall.
These policies are designed to insure against declining market prices of livestock and not any other peril. Coverage is determined using futures and options prices from the Chicago Mercantile Exchange (CME) Group. Cattle producers decide the number of head to insure and the length of the coverage period.
Livestock Risk Protection (LRP): provides coverage against market price decline. If the ending price is less than the producer-determined beginning price, an indemnity is due.
Livestock Gross Margin (LGM): provides coverage for the difference between the commodity and feeding costs. If the producer-determined expected gross margin is greater than the actual gross margin, an indemnity is due.
Crop Hail Insurance
Crop Hail insurance provides the grower protection against yield reduction caused by hail and/or fire. Some policies may also pay for fire department service charges, damage during transit and replant costs. Deductible options allow you to insure up to the full value of the crop.
Companion Hail coverage is also available to insure the portion of the crop not covered under federal crop insurance policies such as Yield Protection or Revenue Protection. B&C Insurance writes with several insurance companies to offer you competitive crop hail plans and rates.
To take the next step in protecting your crops, contact us today.
Crop Insurance Quote Request
As an independent agency, we offer multiple options at competitive prices.