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5 Traits of Top Crop Insurance Providers

Date: 
Author: 
Compeer Financial
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Articles
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Grain
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In the business of managing risk, a trustworthy, reliable partner is a must-have. While crop insurance can be purchased from just about anyone, it’s important your provider is a trusted adviser who understands your business and partners with you year in and year out. As you consider your needs for the upcoming season — and beyond — here are a few things to look for in a crop insurance provider.


1. Agricultural Experience
In a business as varied and individualized farming, your crop insurance provider should know the ins and outs of the agricultural industry. The best risk management adviser is someone who understands the volatility that comes with running a farm operation and who offers creative insurance solutions to meet the needs of your bottom line. The more your insurance officer knows about your operation, the more you can trust his or her advice to fulfill your risk management needs.

2. Empowerment Mindset
 In farming, you can’t afford to trust someone who doesn’t have your back. Think of your risk management adviser as your partner and business growth counselor. This means one-on-one, customized counseling, and feels like they’re an extension of your team. In addition to understanding your unique situation and working with you to create a well-balanced approach between Multi-Peril Crop Insurance (MPCI) coverage and other products; he or she should offer the resources and expertise your operation needs to grow and thrive.

3. Financial Know-how
 Another key characteristic of a first-rate insurance officer needs to have rigorous financial expertise. Part of that is being up to date on the latest government legislation and policy changes that could affect your operation and your risk tolerance, so you can focus on keeping things running.

4. Reliable Carrier
 Aside from your connection and partnership, it’s important your insurance officer is backed by a solid company and team. Does your insurance officer have sufficient resources for training and continual growth in the industry? Make sure the company your insurance officer is with has a history of reliability and credibility in covering crop insurance. Working with a carrier that will be in the industry for the long-run will keep your operation running at maximum coverage.

5. Unwavering Commitment
Working with an insurance officer who is committed to protecting your agricultural business is critical. With all of the crop insurance policy changes that happen each year, keeping your plan up to date is difficult enough. You shouldn’t have to look for a different insurance officer each year. Seek out a partner who willing to connect with you — at your convenience — to review your coverage options and help you understand the products you have in place.
 
Crop insurance isn’t just another expense line item on your balance sheet. It’s a critical piece in keeping your operation risk-averse. Stay up to date on important deadlines and receive notifications from the Compeer Financial Crop Insurance team to make sure your farm is covered.
 
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