CROP INSURANCE PRODUCTS
Crop Insurance Specialists has a variety of protection plan options and coverages to help you protect yourself against unforeseen loss. Our agents are trained to guide you through all your options so that you can make the best choice for your farm.
TYPES OF POLICIES
We have many types of risk management protection plans for you to choose from. Multiple Peril Crop Insurance (MPCI) policies are available for most crops. Our sales agents are always available to answer any questions you may have about our offered products and to help you build the best risk management protection plan for your needs.
Please note: Some plans may not be available for certain insured crops in some areas. In addition, some types of coverage are only available in selected states and counties. Your sales agent can help you decide which policy is best for you.
Yield Protection is a multiple peril crop insurance product that provides protection against a loss in yield due to nearly all natural disasters. For most crops, that includes drought, excess moisture, cold and frost, wind, flood, and unavoidable damage from insects and disease. This product guarantees a yield based on an individual producer's actual production history. If the production to count is less than the yield guarantee, the insured is paid a loss.
Revenue Protection is the oldest type of coverage to be offered to farmers. This coverage protects farmers against financial losses due to substandard production or lower commodity prices. Revenue Protection coverage is based on four factors...
Product Listing
Group Risk Income Protection
GRIP is designed as a risk management tool to insure against widespread loss of revenue from the insured crop by county rather than by individuals. GRIP was introduced in 1999 and is similar to the GRP program, but adds a revenue component to the plan. While GRP is a county yield plan, GRIP works with both the county yield, and the price of the commodity based on the Chicago Board of Trade (CBOT).
In 2004, FCIC introduced the Harvest Revenue Option. Under this coverage plan, the Protection Per Acre and the Trigger Revenue both increase when the Harvest Price is greater than the Expected Harvest Price.
Group Risk Plan (GRP) is an alternative program to the Yield Protection plan of insurance. It provides protection on a county basis rather than an individual basis.
Product Listing
Revenue Protection with Harvest Price Exclusion
Revenue Protection with Harvest Price Exclusion allows you to receive an indemnity payment when your gross revenue falls below your revenue guarantee. As an integral part of your marketing program, Revenue Protection helps insure your profitability, not just your expenses.
Product Comparisons
(APH) - (GRP) - (GRIP) - (GRIP/HRO) - (YP)
(RP) - (RP/HPE)
A side-by-side list of the primary characteristics of seven different crop insurance products.