Crop Insurance for Farms in Steele, ND

Bowerman Insurance Agency offers comprehensive crop insurance coverage in Steele, ND. Call (701) 475-2340 now!

Multi-Peril Crop Insurance

MPCI has many different levels of coverage; it takes a great deal more effort these days than in the past to analyze each year which coverage is best for each farmer. Every farmer has a different circumstance regarding the best policy coverage for them that year. With the gambles farmers face today with Mother Nature and her disasters or insects or whatever it may be, it's a secure feeling to have your crop covered for a claim that might come up. Of course, being paid for a crop loss is less than getting the excellent crop harvested, but it does help recoup the significant inputs we have into our crops today.

MPCI has been a godsend for farmers in North Dakota for the past several years. Mother Nature has not been kind, resulting in huge claims paid to area farmers, whether drought, too much rain, hail, insects, or insufficient heat units for crops to mature.

We are sure everyone knows MPCI is very complicated and continuously changing from year to year. There are several different ways and levels of coverage. That is why we always meet with our customers several times a year to ensure they have the best coverage for their operation. We are the most prominent writers of MPCI in our area and take great pride in giving our farmers the best service available on this complicated program. If you are not presently insured with us, please don't hesitate to contact one of our offices to see how we can help you get the coverage you deserve.

MPCI and Production Hail Plan

The best hail coverage plans available today are the production hail plan (Farmers Mutual Hail Insurance, formerly John Deere Risk Protection) or the hail production plan (Rural Community Insurance Services RCIS).

This new concept began a few years ago, and we have been writing it since its inception. Many agents aren't familiar with this new concept, but here at Gateway Insurance Agency, we stay on top of all insurance risks and, therefore, write much of this coverage. Some companies don't offer this, so many agents can't provide it to their customers. We won't even sell MPCI to a company that doesn't offer this product. With more producers electing the Enterprise Unit Discount, this hail production plan just plain works with great coverage and lower premiums. This plan costs less, pays much better, and totals out quickly compared to your traditional hail plans. When you sign up with a company that offers PHP, you don't need to sign up for the hail plan by March 15, but you need to be signed up with a company that does offer it when you decide to buy your hail coverage later as your crop progresses. If you want to have the opportunity to purchase PHP, please call us by March 15, and we can give you all the details about this coverage and then get you on board with a company that offers the hail coverage opportunity later!

Crop Hail

Hail coverage has changed dramatically over the last several years. The newest type of hail coverage is probably the companion hail policies. You must have an MPCI policy before you can buy one of these policies. These policies have several multipliers; they can be very advantageous in the event of a slight loss as they have multiplied times the factor that you have purchased. With a slight loss, there would likely not be a loss on the MPCI policy, but there would be excellent coverage on companion hail plans. It covers the GAP that an MPCI policy wouldn't cover.

Another new feature we have with crop hail is the auto crop feature. This works out well, as hail coverage is automatically added when you report your MPCI acres. There would be automatic coverage even if you have yet to report your acres. We are seeing more and more farmers doing this every year.

We write a lot of hail insurance in this area and always try our best to get the best policy that fits the crop and your operation. If you haven't bought crop hail in recent years or want to know more, contact one of our offices and see how we can help you get the coverage you need. It will give you peace of mind from any devastating hailstorms.

Rainfall and PRF Insurance

This coverage is when average rainfall is less during a specific two-month time interval (frame). Since this covers hay land and pastures, ranchers are finding this is a great tool to protect them during times when there is less than normal rainfall, which is vital for producing grass and hay for their livestock. We have several options and programs to show what is best for your operation.

Apiculture Rainfall Insurance

This coverage is when there is less than average rainfall for the location of your colonies (hives) during a specific period. North Dakota has two-month interval time frames, but the periods vary in other states. We can cover your hives in more than one state. We write many policies this way.

For example, the summer months are covered in North Dakota, and the winter in California. We were the first writers of this widespread coverage in North Dakota; in California, we wrote the first policy ever. Now, hundreds of thousands of colonies are insured.

We have been in the business since the inception of this coverage and ultimately understand how to structure your policies to get the best payout. For more information, contact Gateway Insurance Agency.

Precision Farming Tool

We offer the Precision Farming Tool for better crop and claims reporting. We want to stay on top of today's technology and provide our customers with the most up-to-date technology services, including the following:

Reduced Premium by only insuring the acres where the seeder or planter went.
Free to use. You already have the GPS data in your compatible farm equipment.
Get paid faster.
Claims for preventing plant and production losses can be processed quickly.
Have a running history in the program to look back at acres, yield, and any work done in the field.
With Precision, RMA reviews only need to return to the previous year instead of three years.
The grain from the year before can be comingled as you have the precision production data for the year.
APH yield increases as you report insured acres more accurately.
It can be used for acreage reporting, production reporting, or both.
Found to be beneficial even when used to report planted and PP acres.

Livestock Risk Protection

Livestock Risk Protection (LRP) is a product designed to insure against a decline in market prices. If you currently use or have used Put Options, this is a cheaper, much easier way to lock in a floor price on your cattle. Ask us how simple it is to take advantage of this product.

Various coverage levels and insurance periods are available for you to purchase to best match up with when you would typically market your feeder cattle. LPR is available to buy anytime throughout the year from our agency. Premium rates, coverage prices, and actual ending values are updated daily.

You may choose coverage prices ranging from 70% to 100% of the expected ending value. At the end of the endorsement period, if the ending value is below the coverage price, you will be paid an indemnity for the difference between the coverage price and the ending value.

Actual ending values are based on weighted Chicago Mercantile Exchange Group Feeder Cattle Index prices. They are posted on RMA's website at the end of the insurance period.

To purchase LRP feeder cattle coverage, you must submit a one-time application. After the application is accepted, you can buy specific coverage endorsements throughout the year for up to 3,000 head of feeder cattle that are expected to weigh up to 900 pounds during the insurance period. The annual limit for LRP feeder cattle is 6,000 head per producer per year (July 1 to June 30).

The coverage lengths available for each specific coverage endorsement are 13, 17, 21, 26, 30, 34, 39, 43, 47, or 52 weeks.

Coverage is available for calves, steers, heifers, predominantly brahman cattle, and predominantly dairy cattle. Two weight ranges are available: under 600 and 600-900 pounds. LRP feeder cattle insurance is available in all counties and states. The premium can now be paid at the end of the endorsement period.

Call our agents at (701) 475-2340 for a crop insurance quote.

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