Crop Insurance and Precision Agriculture

Few sectors of the economy are as susceptible to the influence of nature as is agriculture. While science and technical knowledge have enabled the farmer to avoid or eliminate some dangers which menace harvest, the farmer remains powerless to avert damaging or total loss from weather hazards, insects and other forms of natural disaster.

When did Crop Insurance begin? Congress first authorized Federal crop insurance in the 1930s along with other initiatives to help agriculture recover from the combined effects of the Great Depression and the Dust Bowl.

Definition Crop insurance is purchased by agricultural producers, including farmers, ranchers, and others to protect themselves against either the loss of their crops due to natural disasters, such as hail, drought, and floods, or the loss of revenue due to declines in the prices of agricultural commodities.

Contract The Crop Insurance Contract - A crop insurance contract is a commitment between insured farmers and their insurance providers. Either party has the right to cancel or terminate the contract at the end of each crop year. Unless the contract is canceled, it is normally automatically renewed the next year.

Positives Crop insurance paid out over 6.5 billion last year. Crop insurance gives you the money you need to get a crop in the ground again next year!!!

Negatives You can only insure 60% 65% 70% of your total crop. If your crop is not harmed you are out the money you spent on crop insurance.

Precision Agriculture The concept of precision farming entails the use of some high-tech equipment of (sic) assessing field conditions and applying chemicals and fertilizers. …. Managing small areas within a field to reduce chemical use and improve productivity is the goal of precision farming methods. Ess and Morgan

Points With Precision Farming you are minimizing inputs so that you can maximize profits. This all means that by using precision farming it helps You save money and by saving money. You will have more Saved back you use on other stuff like crop insurance or Other small things you couldn’t get previously.

Questions???