Yield Insurance
As a Virginia Farm Bureau member your local crop insurance specialist will work with you to tailor a protection plan to meet your needs as a farmer. One type of protection that may be recommended to you by your Farm Bureau Agent is Yield Insurance.
Contact your local Farm Bureau office or our state crop specialist for more information on how Farm Bureau Insurance can help protect your needs as a farmer. And don't forget to check out the sales closing dates for your crop.
There are four types of policies we specialize in:
- Multiple Peril Crop Insurance (MPCI)
MPCI provides comprehensive protection against weather-related causes of loss and certain other unavoidable perils. Coverage is available on more than 76 crops in primary production areas throughout the United States at 50 to 85 percent of the actual production history (APH) for the farm.
An indemnity price election from 60 to 100 percent of the Federal Crop Insurance Corporation expected market price is selected at the time of purchase. Minimum Catastrophic Risk Protection (CAT) coverage is available for an administrative fee of only $300 per crop per county. MPCI coverage provides protection against low yields, poor quality, late planting, replanting costs and prevented planting.
- Group Risk Protection (GRP)
GRP insurance is designed as a risk management tool to insure against widespread loss of production of the insured crop in a county.
Catastrophic Risk Protection (CAT)
CAT provides the minimum amount of MPCI coverage. CAT policies pay only those losses in excess of 50 percent of your yield guarantee and at 55 percent of the price set for the crop. CAT coverage allows one basic unit per crop per county per shareholder. It is available for all insurable crops in the United States. Producers serious about risk management will buy-up to higher levels of MPCI coverage.