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Family farm recovers loss with crop insurance

Family farm recovers loss with crop insurance

Nebraska farmer John* has grown up cultivating the same acres where his father and grandfather worked before him. As a young boy, John’s father taught him how to drive a tractor, back when that meant handling a rusty old clutch instead of cruising with an automated system. Ripped jeans, muddy boots and dirty hands are evidence of the manual labor that goes into a day on the farm. A farmer’s day starts at sunup and goes until the work is finished. There’s no paid time off and no margin for error. Your land is your livelihood. The products of John’s labor are poured back into the farm to keep the family business running for another year.

Year after year, John carefully manages his farm and plans out every detail, just like his father and grandfather did before him. He strategically plants his crops to maximize yield. John repairs his own broken machinery and worn buildings to save money on farm operation costs. Winters are never idle. Every successful planting season begins with hours of preparation before the ground begins to thaw. Although farming is not left to chance, there’s a lot that remains out of a farmer’s control.

Seasons and their harvest yields blend together over time, especially for a lifelong farmer with John’s experience. Two years stand out, however, as the seasons where John learned the value of crop insurance. The first year started out like the rest with hours spent planning and planting. John carefully selected his seed and planted it without any major complications; he did everything right to have a successful harvest. He didn’t buy crop insurance, because money was tight, and he could usually get by without it. But then it rained. It kept raining, flooding the fields and drowning the crops. John waited for the fields to dry out and replanted, but it rained again. The rain never let up, and John never got a good harvest that year.

With a meager harvest and a poor crop yield, money was even tighter the next year. John began to prepare for a new planting season, but this time there was no margin for error. The family farm was edging dangerously close to financial ruin. John ordered his seed, repaired his equipment and this year, he purchased crop insurance. That crop insurance saved John’s farm. After the previous season of nonstop rain, John battled a summer of intense heat and violent storms that once again destroyed his crop yield. The difference was that this year after a weak harvest, John’s crop insurance covered his losses. His farming business was in a much better position, and he didn’t have to battle another long, cold winter of financial stress.

Crop insurance protects your investment and gives farmers peace of mind through every harvest season. This allows the men and women who supply our food and fuel our economy to be more competitive in the market. Crop insurance specialists provide a detailed analysis of the strengths and weaknesses unique to your farming operation. Your insurance policy can also serve as collateral for loans. Farmers with crop insurance finish out the harvest knowing that they’ll have financial backing to strengthen their business and prepare for another season.

Like many farmers, John was hesitant to put money towards crop insurance, especially with a strict budget and limited financial resources. After experiencing back-to-back years of poor crop yield, John learned to appreciate the value of crop insurance coverage. As John prepares for another year of planting, he goes through his routine of ordering seed and making repairs, but he also evaluates his crop insurance policy. Don’t leave the future of your farm up to chance. This year, protect your land and your livelihood with a comprehensive crop insurance policy.

*John’s name has been changed to protect his privacy.