Trevor will walk us through Multi-Peril Crop Insurance (MPCI) plans, private product options, unit structure decisions, and key considerations for beginning and veteran farmers. We’ll also touch on how precision ag technology is shaping crop insurance and what farmers need to know about the latest Farm Bill developments.If you’re looking to protect your farm’s bottom line in 2025, this is the episode for you! Let’s get started.In this episode, Trevor Robins from FMH joins us to break down the key crop insurance decisions farmers need to make for 2025. With commodity prices expected to remain low, understanding coverage options, important deadlines, and risk management strategies is crucial.We’ll cover:Revenue Protection vs. Revenue Protection with Harvest Price Exclusion (RP-HPE) and why cheaper isn’t always betterSupplemental coverage options like ECO, SCO, and private productsUnit structure decisions and how they impact premiumsIncentives for beginning and veteran farmersHow precision ag tools can streamline insurance reporting and claimsThe latest on the Farm Bill and what it means for crop insuranceWith March 15th and April 15th deadlines approaching, farmers won’t want to miss this discussion on making the best risk management choices for their operations in 2025. Want Farm4Profit Merch? Custom order your favorite items today!https://farmfocused.com/farm-4profit/ Don’t forget to like the podcast on all platforms and leave a review where ever you listen! Website: www.Farm4Profit.comShareable episode link: https://intro-to-farm4profit.simplecast.comEmail address: Farm4profitllc@gmail.comCall/Text: 515.207.9640Subscribe to YouTube: https://www.youtube.com/channel/UCSR8c1BrCjNDDI_Acku5XqwFollow us on TikTok: https://www.tiktok.com/@farm4profitllc Connect with us on Facebook: https://www.facebook.com/Farm4ProfitLLC/
Chapter 1: What new technologies are transforming farming in 2025?
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Chapter 2: Who is Trevor Robbins and what is his role in crop insurance?
So hi, I'm Trevor Robbins. I'm a training and education manager with Farmers Mutual Hale Insurance Company of Iowa.
Today we're going to be talking about some of the 2025 decisions that are coming up for crop insurance as well as kind of what's happening in the industry with the farm bill and talk a little bit about prices and things and how we look to mitigate risk in a time where we've got those input costs raising and prices continuing to kind of remain steady or drop a little bit.
Basically, we're making insurance sexy.
Ladies and gentlemen, farmers, ranchers, and distinguished guests, thank you for listening to the Farm for Profit podcast, where we discuss the latest ideas, methods, trends, and techniques available to help your farm achieve higher levels of farm profitability. Remember, if you aren't farming for profit, you won't be farming for long.
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Ah, never.
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Chapter 3: How do Multi-Peril Crop Insurance (MPCI) plans work?
Yep. All you have to do is visit their website, www.terraclear.com, place your order for rock mapping and or rock picking services, and then complete your financial application. The entire process only takes about 10, 15 minutes, and you can have your plan for rocks this season taken care of while not worrying about payments until next year.
And listeners, welcome back to the Farm for Profit podcast. This is Tanner. This is Corey. Oh, that was good. Yeah. This is Corey. Next on stage. No, you can't do that. Okay. That's not... That's not... That's ruined it. Oh, my God. What...
Hey, we are doing a subject that isn't the most sexy, so we've got to make it sexy. Are we doing accounting again? No.
Is it sexier than accounting? It is.
It is, but not by much. Not by much.
I thought you were going to say it doesn't take much. The numbers guy in me kind of likes those banking and accounting shows.
No, it's that time of year again. We've got to start thinking about our insurance, crop insurance on the farm. Yeah. We probably do. A necessary, I'm not going to call it evil. It's not evil, but just maybe people like doing it. I'm not a fan of it. To me, it's like going to a restaurant that the menu's too big, and I can't make my mind up. Like, what is it?
I know all this stuff is good, but which one do I want to eat?
I do, and I almost compare the experiences. Like, you love going to the dentist, and I hate going to the dentist. Yeah.
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Chapter 4: What are the differences between Revenue Protection and RP-HPE?
Yeah.
Absolutely. Yep. So welcome. Well, thanks. Thanks for having me. It's awesome to be here.
Why don't you give us a little bit of your background before we dive into what the training and education manager does.
Yeah, you bet. So I started in crop insurance in 2008. Just a little bit about me. Grew up in a small community. That's where we actually live now in southern Iowa. Never thought I'd be in crop insurance. Started out thinking I was going to be a history teacher. Had a buddy that was like, hey, do you want to get into... Working for a crop insurance company. Didn't have any idea what that was.
And now here I am, 17 years later. So it's been a fun ride. But definitely a great industry to be a part of. Working with farmers, working with agents. It's a great job.
Wow. 2008 to now. Crop insurance since that entire time period. That's a lot of time in the industry.
All at Farmers Mutual Hale?
Not all of it is Farmers Mutual Hale. So started out with an approved insurance provider company, ProAg, started out with them, then moved to John Deere Insurance Company, and then John Deere Insurance Company was acquired by FMH in 2015, so been there ever since. So that's been kind of my path to FMH.
And now what does the training and education manager do?
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Chapter 5: How do supplemental products like SCO and ECO enhance coverage?
What's the difference between an enterprise unit and an optional?
Great question. So, you know, that enterprise unit is going to be, and that's, so enterprise essentially just think of if you've got five units. So when we talk about unit structure, we talk about sections. So for the listeners out there thinking about where my farms are located, these are decisions you have to make early on, but it's also an important conversation to have with your agent.
So an enterprise unit, for example, it's going to be less on premium. But what we're looking at is let's say I've got five units. I've got five fields spread out over the county. When we go to harvest and when we look at a loss, we're going to take those all together. So essentially we're putting them in a bucket, so to speak. One farm, one bucket. Yep. And then so one farm may do poor.
Another farm may do great. But we're taking the good from the bad. And then that's our payment if we have one.
Which makes sense, while that would be less of a premium.
Exactly. You as the insured are taking on more of the risk in that case, but that's another way to look at how can I mitigate some of that cost up front. As we're looking at the margins we have right now, that's what we're looking at from an insured standpoint is how can I maximize those dollars? Now for some, and that's also an option by crop.
So if you're a corn and bean grower, again, anywhere growing, multiple crops have enterprise unit options. But if you're a corn and bean grower, it could be that your corn, when you're on a rotation with corn and beans, it might be that one year. your enterprise, and then your optional the next. So that can switch. It is continuous, but that's a conversation to have with an agent as well.
And those agents out there will definitely be bringing that up. So then what's the optional? So the optional would be, let's say we take those same five farms and we're going to pay a little bit more premium, but we're now isolating those losses. So if four of the five do really well and my one doesn't so well, we're going to pay on that loss.
So we're essentially being able to take that risk on an individual unit level. As opposed to just throwing them all together.
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Chapter 6: What are the latest developments in the Farm Bill affecting crop insurance?
Also, we have what we call yield substitutions. So in those years where you have a poor yield, there are common options built into the policy that enable and mitigate those disaster years, so to speak. So let's say you have a, you have a corn crop that on average we're doing 200 plus bushel, but this year we have 120 or whatever.
We've got stuff built in to be able to mitigate that and keep that APH integrity. So it's not just one year is not. So you're trying to eliminate some outliers. Yep. Trying to eliminate some of that. And also just knowing that in the, you know, in the world that we work in, in, on, in farming, um, that weather impacts year to year. We don't want one or two really bad years to just dissolve that.
Does that go the other way though? What if you have an abnormally amazing year and it's 350 bushel?
You get 350 bushel. So yeah, and that's what we're seeing as well, right? So we're seeing those years that now it's bumped my APH up a bunch because I've had that really good year. And that's okay. Now there is something to be said about, Um, the biggest thing is integrity of that production is making sure we have our records, right. Right.
And make sure we have the records in place, uh, so that we can always prove those records.
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Flexible tank makes options and neighbor-friendly applications, all without the need to jump through hoops. See what you'll gain with America's most trusted herbicide system protecting your Enlist E3 soybean fields at Enlist.com.
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