When getting coverage for your farm, you want to make sure your crops are protected against as many disasters as possible, especially when your business depends on them. But just any crop policy may not provide all the coverage you need. That’s why it’s crucial to get set up with the right multi-peril crop insurance.

Fortunately an Illinois independent insurance agent can help you find the right kind of multi-peril crop insurance for your specific farm. They’ll be able to get you equipped with all the coverage you need to do the job right. But before we jump too far ahead, here’s a closer look at this important coverage.

What Does Multi-Peril Crop Insurance Cover in Illinois?

Multi-peril crop insurance is sold by the Federal Crop Insurance Program. Coverage adds on a lot of important protection to a regular Illinois farm insurance or crop insurance policy.

Multi-peril crop insurance protects crops against the following hazards:

• Insect damage and infestations
• Disease outbreaks
• Drought
• Fire and fire damage
• High wind and hail damage
• Frost damage and freezing

The trick with multi-peril crop insurance is that it must be added to your policy before your crops are planted in order to be effective when you need it to be. Multi-peril crop insurance policies also need to be renewed every single growing season.

Most farmers in Illinois and across the US select multi-peril crop insurance because of the full picture of protection it provides for crops. A regular Illinois crop insurance policy does not provide nearly as much coverage.

What Doesn’t Multi-Peril Crop Insurance Cover in Illinois?

Multi-peril crop insurance provides a ton of critical protection for crops and farmers, but it doesn’t cover everything. Certain hazards require a different kind of policy, called crop-hail insurance. These hazards include:

• Acts of malicious mischief
• Lightning
• Theft
• Acts of vandalism

An Illinois independent insurance agent can help you get set up with the right type of crop-hail insurance to protect your farm against these additional hazards not included in multi-peril crop insurance, if it’s right for you.

Multi-Peril Crop Insurance vs. Illinois Crop Insurance

Multi-peril crop insurance is just one type of crop insurance available in Illinois, and it provides a more comprehensive picture of coverage than other types. When you purchase crop insurance for your farm, you’ll work together with an Illinois independent insurance agent to choose the right type for your needs.

Your independent insurance agent may suggest multi-peril crop insurance, crop-hail insurance, or revenue crop insurance. According to insurance expert Jeffery Green, the type of policy known as revenue crop insurance protects farmers who sell their crops before harvest. It protects farmers who have to fulfill contracts after a crop is lost due to storm damage, etc.

How Much Is Crop Insurance in Illinois?

The cost of your individual crop insurance policy can be difficult to predict, since it’s influenced by several factors. However, you can check out these stats and see how much crop insurance averages in all states.

Total value of crop insurance premiums in the United States in 2017, by state (in thousand US dollars)

In 2017, Illinois had the third-highest value of crop insurance premiums in the country, at a total of $697.2 million. Only North Dakota ($929.7 million) and Texas ($970.5) ranked higher.

An Illinois independent insurance agent can help find exact quotes for the different types of crop insurance in your area.

Does My Farm’s Location Influence My Rates?

Green said that yes, your farm’s location does influence your coverage’s rates. One reason for this is that the risk of natural disasters varies depending on which area of the country and even the state you’re in. Farms located closer to the water in Illinois are likely to pay more for their coverage.

Other factors that influence the cost of your multi-peril crop insurance are:

• The total number of acres insured
• Additional coverages purchased
• The type of crops insured
• The value of the crops insured

Also, farms in major cities like Chicago will likely pay more for their coverage due to the city’s increased risk of other threats, like crime, and higher property values. Your Illinois independent insurance agent can help you find exact quotes for multi-peril crop insurance in your town.

Do Farmers in Illinois Really Need Multi-Peril Crop Insurance?

Multi-peril crop insurance may not be mandatory by law, but farmers in Illinois should always at least consider adding this important coverage. Multi-peril crop insurance can help protect you from devastating out-of-pocket losses if a number of disasters wipe out your crops. It’s a safe bet to just be covered ahead of time in case anything goes wrong, rather than wind up wishing you had coverage later on.

Here’s How an Illinois Independent Insurance Agent Can Help

When it comes to protecting farmers and their crops against hazards like fire, hail, vandalism, and all other disasters, no one’s better equipped to help than an independent insurance agent. Illinois independent insurance agents search through multiple carriers to find providers who specialize in every type of crop insurance, deliver quotes from a number of different sources, and help you walk through them all to find the best blend of coverage and cost.