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Don’t cut back on crop insurance

A risk management specialist cautions farmers considering less crop insurance coverage in 2025 because margins are tight.

Compeer Financial director of insurance strategies Cole Patrick says some people view crop insurance as an input.

“And some people don’t, that’s fine. But what you don’t want to do in these times (of tight margins) is reduce your crop insurance because that’s the thing that is going to protect you.”

He tells Brownfield there’s no other line of insurance that can protect a farmer’s livelihood the way crop insurance does.

“And it’s highly subsidized, so just take advantage of that and make sure that you’re locking in risk floors that are going to sustain your operation.”

Patrick says the Enhanced Coverage Option (ECO) has become more affordable and he encourages growers to consider its viability as a risk management tool.