Caution Needed When Purchasing Supplemental Coverage Option and Enhanced Coverage Option
Both the Supplemental Coverage Option (SCO) and the Enhanced Coverage Option (ECO), while around for a while now, have garnered new attention as viable crop insurance contract options for 2023. When making the decision to purchase SCO and/or ECO, be sure to fully understand how these policies work and what it means for your operation. Caution is needed when paring individual coverage (say RP) and county yield-based policies, i.e., SCO/ECO as models showing protection do not necessarily result in payments.
In this article, Cory Walters, associate professor in the Department of Agricultural Economics, discusses two important points to consider before purchasing.
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