Central Crop Insurance is not "One Size Fits All".
Central Crop Insurance’s agents will evaluate your individual farming operation to select the product or group of products together that best fits your farming needs and potential loss scenarios. Our extensive knowledge of the products and programs provided by our various contracted insurance companies allows us to effectively manage your risks.
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RP is one of the most popular and widely used crop insurance products available to producers. Revenue Protection provides protection against a loss of revenue caused by price increase or decrease, low yields, or a combination of both. This coverage guarantees an amount based on the individual producer’s actual production history (APH) and the greater of the projected price or the harvest price. While the revenue guarantee may increase if the harvest price is higher than the spring price, the premium will not.
YP provides protection against a loss in yield due to unavoidable, naturally occurring events, guarantees a production yield based on the individual producer’s actual production history (APH), and uses a projected price based on the commodity board of trade/exchange to determine price per bushel. An indemnity is due when the production to count is less than the yield protection guarantee.
Area Revenue Protection
ARP insurance is based on the experience of the county rather than individual farms. Coverage is provided against loss of revenue due to a county level production loss, a price decline, or a combination of both. Upside harvest price protection is included which increases the policy protection at the end of the insurance period if the harvest price is greater than the projected price and if there is a production loss. ARP will pay a loss when the final county revenue is less than the trigger revenue which is calculated using the higher of the projected or harvest price.
Area Yield Protection
AYP coverage is based on the experience of the county rather than individual farms, and indemnifies the insured in the event the final county yield falls below the insured’s trigger yield. Since the plan is based on the county yields and not the individual yields, the insured may have a low yield on their farm and not receive a payment or they may raise well above the county average and still collect and indemnity.
Whole Farm Revenue Protection
Whole-Farm Revenue Protection (WFRP) provides a risk management safety net for all commodities on the farm under one insurance policy. This insurance plan is tailored for any farm with up to $8.5 million in insured revenue, including farms with specialty or organic commodities (both crops and livestock), or those marketing to a local, regional, farm-identity preserved, specialty, or direct markets.
Do not leave yourself exposed to the spot losses or the large devastating disasters caused by a hail storm on your crops. Adding a hail insurance policy to your crop insurance package is an affordable way to fill in the gaps. Crop hail policies cover your crop from the first percent of damage, and in the events of heavy crop losses, will work in conjunction with your MPCI to protect your investments. Most crop hail policies also cover fire (natural or unnatural), vandalism, malicious mischief, theft, transit perils, and stored grain making them excellent policies for a low cost.
As technology and farming practices evolve, so do the perils that we face. New corn varieties, increased planting rates, and irrigation equipment are producing more bushels but also may lead to adverse effects during a storm or heavy wind. Green Snap coverage protects corn in the event that the stalk is severed or broken at a node above the brace roots and below the ear that prevents an ear from forming or preventing the harvest of the ears by normal harvesting equipment.
You work hard to plant your crop to achieve the best stands possible only to have Mother Nature dictate otherwise. New seed cost, fuel, time, and labor to replant your crop is the last thing that you want to see. Some MPCI products cover replant costs but it just may not be enough. Replant Supplement policies add a layer of protection to your pocketbook in the unfortunate event that replanting your crop must be done.
Livestock Risk Protection (LRP) is a simple way to protect against declining livestock market prices. LRP is available for the producers or swine, fed cattle, and feeder cattle. The producer chooses the coverage level, coverage price, and insurance period to accommodate their marketing cycle.
Livestock producers count on rain just as much as crop farmers to grow forage for their herds. Not receiving enough rain in critical growing seasons causes extra stress and expenses in order to buy feed. PRF was developed to provide livestock producers with the ability to purchase insurance protection for losses on forage produced for grazing or harvested for hay.
Private industry products are meant to supplement your current MPCI product. Most private products give the producer the ability to lock in potentially higher coverages than his/her current MPCI policy can provide. As an independent agency representing multiple crop insurance companies, Central Crop Insurance has the ability to write many of the different private products available on the market today. A few of the private price products available for the 2016 crop year include: