Experience, great customer service, knowledge of the products and services, and teamwork. These are likely some of the words you think of when looking for a service. Here, at High Plains Farm Credit, these are more than just words. Our team believes that we have the best Crop Insurance team in the community, in which we display these great characteristics. Therefore, our team enjoys serving its current customers, while having the opportunity to get to know new customers and others within our community.
With that being said, there are some very important team members you may get to know when asking Crop Insurance questions. So, let’s start with the agent-based in our Larned office, Cory Johnson.
Meet Your Crop Insurance Agent: Cory Johnson
Cory Johnson joined the High Plains Farm Credit Team as an Insurance Agent in Larned, KS, and has been working in the Crop Insurance industry since 2013. Cory grew up in Larned and was a 2002 graduate of Southwestern College, where he was a 4-year letter winner on the football team and earned his degree in Sports Management. From Southwestern, he continued his education and passion for football by attending Friends University. There, he was the Offensive Coordinator/Offensive Line coach and attained his Master’s Degree in Business.
On the other hand, Cory is married to Amanda Johnson, who is the Special Ed Director for Pawnee Heights School District. Cory and Amanda have two kids, Jax and Averi. Jax is a fifth-grader at Larned Elementary School and Averi is in Pre-School at Stepping Stones. In Cory’s spare time, he enjoys hunting, coaching his kids in their activities, and competing in Steak competition over the US.
Cory, like our other Crop Insurance Agents, is here to help answer all of your questions, just like the ones below.
What is Crop Insurance?
The Federal Crop Insurance program was set up in 1938 with the passing of the Federal Crop Insurance Act. The main goal was to maintain the viability of farming and ensure the stability of the nation’s food supply.
Crop Insurance also is utilized to help protect the farmers and agricultural producers against the loss of crops due to extreme weather, like floods, hail, and drought, or the loss of revenue due to the price swing in today’s commodity markets.
What are the types of Crop Insurance?
There are two types of Crop Insurance that are available to farmers: 1) Crop Hail Insurance, which is provided by the private sector of insurance, and 2) Multi-peril Crop Insurance, which is provided and underwritten by the federal government.
Crop Hail Insurance is provided by private providers and is not part of the Federal Crop Insurance program. In fact, producers can purchase this product at any time during the growing season for protection against hail, fire, and wind. However, some of the farmers use this to help protect themselves against crop losses, that are either not insured under the federal program or fall below their MPCI threshold. Overall, crop-hail prices are set by each company that provides the insurance. There is no set rate, unlike the MPCI program, where all prices are the same throughout the program.
On the other hand, Multi-Peril insurance covers the loss of crop yield, as a result of all types of natural causes, including drought, excessive moisture, deep freezes, and hot weather and disease. This policy must be purchased at a set sales closing period for certain crops in order to have a valid policy. Furthermore, Multi-Peril coverage is offered under the Federal Crop Insurance program, which is a public-private partnership between the federal government and 15 private insurers, who have been approved by the US Department of Agriculture (USDA RMA). Premium Rates for Multi-peril are determined by the RMA and are set for all of the insurable crops at one price. This price is the same throughout the industry.
Protect What Matters
Overall, Crop Insurance is a key component of each agricultural operation. The types of Crop Insurance mentioned can help you protect what matters most. In order to keep our customers (and potential future customers) up-to-date on Crop Insurance news, we will be posting other helpful articles, which will include important changes to Crop Insurance policies, so be sure and watch for those on our website!
Our staff introduction will continue with Paige Hrabe, who will answer…what, you ask? Stay tuned to find out!