Understanding Crop Insurance Coverages


A farmer’s livelihood depends on the successful production and subsequent sale of food products. One severe storm at the worst possible time can wipe out an entire year’s harvest and with it the ability of the farmer to survive the loss. Crop insurance protects agricultural producers against either the loss of the crops themselves arising from natural disasters such as drought and hail, or the loss of revenue on the sale of their crops due to declines in the price of agricultural commodities.

This course offers a comprehensive understanding of crop insurance, including private crop-hail insurance, federal crop insurance, and Whole-Farm Revenue Protection crop insurance.  The course also examines factors that should be considered when buying or selling crop insurance. 

Learning Objectives

Upon completion of this course, students should be able to: 

  • identify the crop-related risks farmers face and recognize which of these risks crop insurance can address
  • explain why private insurers find it difficult to insure crops against most perils
  • identify the perils that may be covered by private crop-hail insurance
  • explain how loss payment under a crop-hail policy is determined and identify some endorsements available to enhance the coverage of a basic hail policy
  • identify common crop insurance deductible options
  • identify factors to consider when deciding on appropriate levels of risk and coverage
  • recognize common mistakes that should be avoided when buying or selling crop insurance
  • describe other significant recent additions to the federal crop insurance program

Designed For

Property and casualty risk, safety, insurance, and finance professionals
International Risk Management Institute, Inc. (IRMI) is the premier provider of risk and insurance continuing education and reference publications, and is considered the ultimate authority by leading insurance practitioners. Written by industry experts, IRMI courses provide the most up-to-date, practical and reliable information possible.

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