Country Financial makes case for crop insurance
While insurance may be an extra expense, it adds an additional layer of protection on top of a federal crop policy, the company said in a release.
“Chapter 12 farm bankruptcy filings rose last year. Financial troubles are happening to grain farmers all across the Midwest—so now is not the time to pass on coverage,” Doug Yoder, Country Financial crop agency manager, said. “These bankruptcies show just how financially distressed some family farmers really are, yet cutting Crop-Hail insurance could only increase their risk.”
Yoder highlighted the importance of having insurance.
“These are serious farm debt times, the distress in the grain sector is real,” Yoder said. “Crop Hail insurance often serves as the biggest safety net because it offers widespread coverage for farmers. They sleep better at night knowing that should the unexpected happen, they’ll have the financial security to stay in business and go on to plant the next season.”