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said. “Then it looks at all nine crop insurance alternatives and lets the computer perform the mind-boggling number of calculations that are necessary." '
The only one of its kind in the country, the program allows farmers to preview various yield ranges and probabilities. By putting a dollar value on the probability of an event occurring, the risk management program lets farmers see how severe the consequences of an event could be. . ... ,
“Risk management is a new technology that farmers are going to have to learn to use,” he said. “It’s not precise, but risk management is a useful decision-making tool for farmers.” ■ . ./I,.— :.-.. .. —
By inserting information provided by the farmer into the computer, Extension Service agents are able to provide anticipated insurance premiums for each of the nine crop insurance alternatives. For example, crop producers can insure their crop for 75 percent, 66 percent, or 50 percent of their average yields at three different payment levels.
According to Mr. Moore, most farmers who need crop insurance should seriously consider selecting the highest yield coverage with the highest price coverage. “That level could keep them in business for another year if a disaster does occur,” he said. “Any other choice is marginal as to whether it would really help.” -
The deadline to purchase crop insurance for spring crops is Wednesday, April 1. Farmers should contact Birgitt Thornhill at the Rappahannock County Extension Office (6753619).'. :
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