Crop Insurance Products
Farmers, ranchers and other ag related producers, crop insurance is one protection that you cannot afford to be without. Many different government backed and some privately funded programs are available for you to develop your risk management program. With the enormous financial risks involved with production agriculture, you need help you can count on when the chips are down!
Products & Services
Actual Production History (APH) or Yield Protection (YP)
This option of crop insurance insure producers against yield losses due to natural causes such as drought, excessive moisture, hail, wind, frost, insects, and disease. Select the amount of average yield you wish to insure; from 50-75 percent (in some areas to 85 percent). You also select the percent of the predicted price you want to insure; between 55 and 100 percent of the crop price established annually by RMA. If the harvest is less than the yield insured, you are paid an indemnity based on the difference. Indemnities are calculated by multiplying this difference by the insured percentage of the established price selected when crop insurance was purchased
This option of crop insurance provides revenue protection based on price and yield expectations by paying for losses below the guarantee at the higher of an early-season price or the harvest price.
Revenue Protection With Harvest Price Exclusion
This option insure farmers in the same manner as Revenue Protection polices, except the amount of insurance protection is based on the projected price only (the amount of insurance protection is not increased if the harvest price is greater than the projected price). If the harvested plus any appraised production multiplied by harvest price is less than the amount of insurance protection, the farmer is paid an indemnity based on the difference.
Area Risk Protection Insurance (ARPI)
Area Risk Protection Insurance provides protection against widespread loss of revenue or widespread loss of yield in a county. Individual farm revenues and yields are not considered under ARPI and it is possible that your individual farm may experience reduced revenue or reduced yield and not receive an indemnity under ARPI.
Pasture & Livestock
Pasture, Range and Forage Insurance
Pasture, Range and Forage Insurance (PRF) was developed to help provide insurance for the livestock producer to help provide a buffer for those times when drought hits. It has two different ways of being used depending on where you are. The rainfall insurance insures against lower than normal rainfall.
Annual Forage Insurance was developed to provide rainfall insurance for those forage crops which are planted annually. This program is available in TX, NM, CO, KS, NE, ND, OK, SD. This insures against lower than normal rainfall in the 12 growing seasons, eligibility for each of the growing seasons is dependent on when the annual forage crop is planted.
Livestock Risk Protection (LRP)
LRP is an insurance tool which allows you to insure a price for your livestock as defined in the policy provisions.
If you would to see what today's market prices are for your cattle you can click the link to the Livestock Pro Quoter if you have a Agency Root log in. If you do not have one please give us a call and we can get you an account set up for you this way you can get access to live LRP quotes.
The Livestock Gross Margin (LGM)
The Livestock Gross Margin for Cattle Insurance Policy provides protection against the loss of gross margin (market value of livestock minus feeder cattle and feed costs) on feeder (yearling and calf) cattle. LGM covers the difference between the gross margin guarantee and the actual gross margin at the end of the 11-month insurance period. The LGM insurance policy uses adjusted futures prices to determine the expected gross margin and the actual gross margin. LGM does not insure against death loss or any other loss or damage to the producer’s cattle.
We offer crop hail insurance in Texas, Oklahoma and New Mexico. Each state has different deductibles and rules. We have tried to give you a short description by state of each of these. Please click on your state to see what is available there. As always call us for up to the minute information and a more in depth understanding and explanation.
Each company may have a variation in the way they use each deductible so these explanations are only a general guide and are not binding on how each company pays their claims.