Whole Farm Revenue Protection is an important risk management tool for diversified farmers to insure all their crops and livestock in one insurance policy. However, for smaller-to-mid-sized specialty crop producers, the micro farm crop insurance policy is a subset of the whole farm policy that may be a better option. How does the micro farm policy differ from whole farm? Read on to learn more.
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Crop Insurance Pricing
RMA uses various methods to determine crop price and value for crop insurance policies. Prices are based on CME, CBOT, and local markets, depending on the policy.
Row crop policies use two prices to determine revenue coverage. The “Spring Projected Harvest Price” (announced March 5) is set using the average closing prices of December corn contract and November soybean contract during February. The “Final Harvest Price” (announced November 5) is the average of the closing price of December corn and November soybeans during October.
Livestock Insurance Analyzer
Gain exclusive access to an industry-leading risk management tool. The Livestock Insurance Analyzer provides daily premium rates, coverage prices, historical performance, endorsement tracking, custom price reports and more to help you see the full picture and calculate the numbers that matter to your business before making decisions.
Contact your Crop Growers insurance agent to receive login information.
Insurance Providers
Federal crop insurance is a partnership between USDA, insurance companies, local agents and farmers. Crop Growers works with three approved insurance providers to offer crop insurance to farmers. Links to each of the three are below.
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