Crop Insurance Use in 2011 and Suggestions For 2012
Gary Schnitkey ( February, 2012 )
Summary
In 2011, most corn and soybean acres in Illinois were insured using Revenue Protection (RP) at a 75% or higher coverage level. At these coverage levels, most acres where insured using enterprise units. For those choosing RP at a 75% or higher coverage level with enterprise units last year, a similar choice in 2012 seems prudent given that the Trend-Adjusted Actual Production History (TA-APH) yield endorsement is added to the RP policy. Some consideration to RP with the harvest price exclusion (RPwExcl) may be warranted. Group Risk Income Plan (GRIP) users may wish to re-evaluate choices as GRIP premiums have gone up will RP premiums have come down. GRIP still has attractive features, but relative costs have changed.
Details
| Organization | farmdoc |
| Publisher | University of Illinois |
| Publication Date | February, 2012 |
| Publication Views | 238 |
| Material Type | Written Material |
Filed Under