iFarm Payment Evaluator: Spring 2017
The 2017 iFarm Crop Insurance Payment Evaluator develops a case farm for most counties in the major corn and soybean production regions, and then provides estimates of premiums for all available crop insurance products for basic and enterprise units by coverage level, along with the expected frequency of payments, average payment per acre, net cost per acre, and risk reductions associated with alternative crop insurance products and election levels in an easily understood format. A summary graph shows the impact on likelihood of low revenues across alternative crop insurance decisions and compares these to a “no-insurance” case. The tool uses current price and volatility estimates and will be updated periodically until the final values are established. The tool provides helpful information to producers comparing costs and risk reductions across their available crop insurance alternatives in 2017.