News

Crop insurance considerations ahead of deadline

The deadline for farmers to lock in their crop insurance choices is just around the corner.

Tony Jesina, senior vice president of insurance, with Farm Credit Services of America says while farmers should have their ARC and PLC decisions made, there are additional coverage options to consider.  “SCO and ECO are a couple of topics that producers are taking a hard look at right now,” he says.  “Know that offers some better coverage than even a traditional revenue protection policy.”

He tells Brownfield a Supplemental Coverage Option (SCO), is highly subsidized and is tied to an area plan and an Enhance Coverage Option (ECO), which is also tied to an area plan. “ECO allows producers to carry up to a 95% coverage level,” he says.  “When you look at today’s input costs and today’s margins, having a 95% safety net versus a 85% or lower safety net is really attractive right now seeing where prices are at and seeing prices start to deteriorate a little bit.”

The deadline for farmers to enroll in ARC (Agriculture Risk Coverage) or PLC (Price Loss Coverage) is March 15, 2023. 

Brownfield interviewed Jesina during the 2023 Commodity Classic in Orlando, Florida. 

AUDIO: Tony Jesina, Farm Credit Services of America