Custom Crop Insurance Plans

When it comes to agriculture, you can’t control everything. Our crop insurance experts can tailor a program of insurance covering your needs.

Your agricultural business depends on a lot of variables to be successful, some of those out of your control. Managing the risks you face every day is an important part of running your business. Crop insurance can help reduce your risk with adjusted gross income and/or multi-peril coverage.

Yankee offers crop insurance through its Crop Growers, LLP insurance agency. With expertise in crop insurance, our agency can help tailor a plan for your unique business. Types of crop insurance plan that are available:

Dairy Revenue Protection (DRP)

The DRP policy provides protection against declines in quarterly revenue from milk sales. This product is indexed using state-level milk production and there are two pricing options available to choose from-Class Price (class III and IV milk prices) and Component Pricing (butterfat, protein, milk solids). Not all milk production is required to be covered during the quarters chosen to insure and the insured can choose either or both of the pricing options. Up to five quarters can be insured at a time.

Multi-peril crop insurance (MPCI)

A little peace of mind goes a long way these days, especially when it's easy and affordable to obtain. Multiple Peril Crop Insurance can help you take some of the risk and worry out of the whims of nature. We call it "weather management" insurance, because it can protect your financial well-being from nearly all natural disasters, including:

  • drought
  • excess moisture
  • cold and frost
  • flood
  • wildlife
  • unavoidable damage from insects and disease

livestock gross margin-dairy (LGM)

This policy provides protection against the loss of gross margin (market value of milk minus feed cost) on the milk produced from dairy cows. LGM-Dairy uses futures pricing to determine the expected gross margin and the actual gross margin. The price the producer receives at their mailbox is not used in these calculations.

Whole farm revenue protection (WFRP)

This policy provides coverage on a whole-farm basis rather than being limited to a specific crop. The coverage is based on income generated from commodities reported on a Schedule F tax return.  WFRP provides protection against the loss of insured revenue due to an unavoidable natural cause of loss.

Pasture, Rangeland, Forage (PRF)

The PRF insurance plan is designed as a risk management tool to insure against a decline in the Rainfall index for a grid. The only cause of loss for a PRF policy is having a final grid's precipitation fall below the trigger grid precipitation.

Yield Protection (YP)

The Yield Protection (YP) and Actual Production History (APH) policies insure producers against yield losses due to natural causes such as drought, excessive moisture, hail, wind, frost, insects and disease. Crops insured through YP have a price set through a commodity exchange price provision. The APH plan is available for crops that do not have prices set by a commodity exchange. The price for APH is set by the Risk Management Agency (RMA). Losses occur when the harvest yield is less than the yield insured due to covered peril. Late planting, prevented planting, and replanting protection is part of the policy.

Revenue Protection (rP)

The Revenue Protection (RP) plan gives you all the coverage of YP and APH plus protection against loss of revenue caused by yield and/or market fluctuations. It allows you to "lock in" your guarantee at a pre-determined price. Prevented planting and replanting protection is part of the policy. RP can also be purchased with the Harvest Price Exclusion.

 

Crop Growers, LLP agents are dedicated to the success of your business through risk management planning. They provide a diversified, knowledgeable team of insurance agents who specialize in the Federal Crop Insurance Program. For more detailed information and a personalized analysis by a Crop Growers LLP agent, contact Charlie Messenger at 320 Exchange Street in Middlebury, VT 800.545.1169 or cell 802.598.8578.

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We've been helping rural America for over a century. Let us use our expertise to help you anticipate and plan for things that are beyond your control.

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