YIELD BASED COVERAGE
Multi-Peril Crop Insurance (MPCI) – provides protection against losses from a number of uncontrollable causes. MPCI is the most popular insurance coverage due to its flexibility in level and price.
Catastrophic (CAT) – Provides the minimum coverage amount on a MPCI policy. For a $100 fee, producers can buy a minimum insurance coverage based on 50% of the producing operation's average yield at 55% of the FCIC established prices.
Group Risk Plan (GRP) – Recommended for farmers whose yield history closely tracks the county or parish history because protection is based on the yield experience of the county rather than their individual farms.
REVENUE INSURANCE PLANS
Crop Revenue Coverage (CRC) – Provides farmers with a revenue guarantee based on their approved yield and current market price. Protects against losses resulting from a decrease in market price, a loss of production or combination of these. While CRC provides several advantages over traditional crop insurance policies, the real benefit comes when it is incorporated as an integral part of the producer's marketing plan.
CRC can be an effective risk management tool by providing farmers with an established revenue guarantee per acre. Farmers may more proactively market through the growing season when prices are usually higher, knowing that CRC provides the revenue guarantee to cover bushels committed in forward pricing their crop or when using other market options.
Revenue Assurance (RA) – Available for selected states and crops, this policy provides protection against revenue losses resulting from any combination of low market prices or low production yields. RA is available in certain states. Ask your agent about availability in your area.