Many farmers are concerned with the possibilities of low prices and want to pick a crop insurance policy with the possibility of low prices in mind. “Low price” concerns likely result from price declines during the past six months and because of general pessimism concerning the U.S. economy. If lower prices are a primary concern, Group Risk Income Plan (GRIP) at a 90% coverage level will provide superior protection compared to Crop Revenue Coverage (CRC) or Revenue Assurance (RA). Given “average” yields, GRIP will begin to make payments at higher harvest prices than CRC or RA. Moreover, GRIP will make larger payments than CRC or RA at the same harvest price.
Organization |
University of Illinois Extension |
Publisher |
University of Illinois |
Publication Views |
351 |
Material Type |
Written Material |