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Crop insurance plays an integral role in any farmer’s risk management plan. There are a variety of disasters that threaten the success of those in the agricultural industry, but adequate coverage helps businesspeople stay competitive and encourages them to be more innovative. For those in Beatrice, NE, looking for a way to minimize their potential losses, Nebraska Crop Insurance Agency can help. Below, they go over some of the top benefits of having a crop insurance policy if you own a farm.

3 Reasons for Farmers to Purchase Crop Insurance

1. Income Protection

First and foremost, crop insurance is designed to protect the livelihood of farmers. Floods, droughts, frost, and plant diseases are all dangers that can cause extensive income loss. With coverage, farmers will be compensated and given the opportunity to replant. Policies may also offer protection for a loss in earnings due to low consumer demand.

2. Collateral for Loans

crop insuranceIt takes a great deal of expensive equipment to operate a farm efficiently, and it can be difficult to come up with the funds necessary to buy everything. Another advantage of crop insurance is it gives farmers the financial freedom to stay up to date on all the latest technology and equipment by using their insurance policy as loan collateral.

3. Receive Timely Payouts

When a loss occurs, it can immediately affect an individual’s financial security. Crop insurance payouts are typically made within a short timeframe after filing and settling a claim. This gives farmers the chance to get back on their feet and begin replanting in a timely manner.

Crop insurance is an essential business tool for any farmer. If you’re unsure about the best policy options for your particular operation, talk to one of the knowledgeable professionals at Nebraska Crop Insurance Agency. Since 1981, they have assisted numerous clients in their efforts to find effective insurance solutions. You can contact them at (402) 223-2694, or visit them online to learn more about the products they have available. 

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