Millennium Realty
Donna Coakley-Mcgowan, Millennium RealtyPhone: (774) 287-2060
Email: [email protected]

A guide to how crop insurance works

by Donna Coakley-Mcgowan 01/11/2023

Local crops provide food and resources. Crops have significant importance to society; therefore, insurance for crops is offered by the federal government for protection. Check out this guide if you would like to learn more about crop insurance and how it protects farmers. 

What is crop insurance?

Crop insurance offers farmers protection in the case of damage and loss to crops. It covers natural disasters such as extreme storms and drought. It also covers revenue loss due to extreme price swings in the market. 

Multiple peril crop insurance protects farmers from a list of perils, while some specific policy types, such as crop hail insurance, are more specialized coverage. Depending on the region where the farm is located, other coverage might be necessary.

Cost of crop insurance

Terms and rates of crop insurance are determined by the Federal Crop Insurance Corporation (FCIC). This keeps prices consistent across the industry. Due to this, private insurance companies compete through providing great customer service, and by providing additional products and services to clients.

Who’s in the market for crop insurance coverage?

Agricultural producers and farmers are the primary purchasers of crop insurance. It’s mostly geared towards farms growing wheat, cotton, corn and soybeans, but other crops are included as well.

Crop insurance is essential to the agricultural industry for providing protection in case of unforeseen perils. With this coverage, farmers can have greater peace of mind about protecting their


About the Author
Author

Donna Coakley-Mcgowan

Licensed since 1983 Donna is a well known and well respected veteran of the local real estate market. Donna has made her mark as both a manager of a brokerage firm and as an agent. Ms. Coakley McGowan has participated in extensive training in residential real estate and specializes in both Buyer and Seller Agency.   

"I am extremely pleased to welcome an Associate of Donna’s caliber and expertise” said Judy Leonelli, Owner. "I have known Donna for many years and have admired her professionalism and talent for the pragmatic resolution to the difficulties that can arise during a transaction. When Donna is involved you know there will be a successful outcome.”  

Ms. Coakley McGowan has lived in Upton since 1995 and knows the area and all of its attributes. She currently serves the Town of Upton and the Regional School District as Chairperson of the School Committee.  She and her husband Mark and their two children reside in Upton.