Multi-Peril Crop Insurance
Protect your crops with a Multi-Peril Crop Insurance (MPCI) policy. Beginning in 2011, the Risk Management Agency (RMA) created the Common Crop Insurance Policy, also known as the Combo Policy that combines Actual Production History (APH), Crop Revenue Coverage (CRC), Revenue Assurance (RA), and Income Protection (IP) policies into a single insurance policy provision. Some of the most common MPCI Policies are as follows:
YP (Yield Protection): Guarantees your yield. Replaces APH Plans for Corn and Soybeans. If you harvest under your guaranteed bushels you have a loss.
RPHPE (Revenue Protection with the Harvest Price Exclusion): Guarantees revenue only. Replaces RA (Revenue Assurance) without HPO(Harvest Price Option). If your harvested revenue is less than your guaranteed revenue you have a loss. This policy does not give you any protection for yield. The harvest price is the October average for December contracts from the CBOT for corn and October average for November contracts from the CBOT for soybeans. If harvest prices are high but your yields are low, it is possible you will not have a loss due to the increase in prices.
RP (Revenue Protection): Guarantees revenue and yield. Replaces the CRC (Crop Revenue Coverage) and RA HPO (Revenue Assurance with Harvest Price). If you harvest under your guaranteed yield or revenue you have a loss. The harvest price is the October average for December contracts from the CBOT for corn and October average for November contracts from the CBOT for soybeans. The maximum amount the harvest price can go up is 200% above the spring price, and down is an unlimited amount.
CAT Policy: Your Guarantee is 50% of your approved yield at 55% of the Base Price. The cost is $300 per crop per county. If you currently have a CAT Policy we should look at buying up coverage.
|Sale Closing Date||March 15||March 15|
|Cancellation||March 15||March 15|
|Earliest Planting||April 11||April 21|
|Final Planting||May 31||June 15|
|Acreage Report||July 15||July 15|
|End of Insurance Period||December 10||December 10|
|Production Report||Needs to be completed immediately following harvest to check for losses.|
|Losses or Expected Losses||Turned in by Dec. 10 unless harvest is completed prior to Dec. 10.|
|Forage Seeding||Claim deadline is May 21.|
Crop Hail Insurance
Most hail storms last between three and five minutes. In that time, Mother Nature can deal a crushing blow to your crops, your profits, and the future on your farming operation. We have a variety of products available. Please give us a call for a quote.
Please complete the information form HERE and we will contact you by phone to discuss your insurance needs or email us today!
Farmers Mutual Hail