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This information is a premium estimate only, and is only for educational purposes.
You must refer to an authorized crop insurance agent for official quote(s) and specific information regarding
insurance coverage, actuarial information, conditions and exclusions.
This information is a premium estimate only, and is only for educational purposes. You must refer to an authorized crop insurance agent for official quote(s) and specific information regarding insurance coverage, actuarial information, conditions and exclusions.
Under Basic Units, all of the acres you own/cash rent in a county are insured together, separate from all acres in a county that are share rented. All acres share rented with different landlords are also insured as their own unit. So, you can have multiple Basic Units in a county, which means more opportunities to collect loss payments. However, Basic Units are more expensive than Enterprise Units
Optional Units are like Basic Units, except acres are divided by Township instead of County. So, you can have multiple Optional Units in a Township, which means even more opportunities to collect loss payments. However, Optional Units are more expensive than Enterprise and Basic Units
Under Enterprise Units, all of your acres of a single crop in a county are insured together. Premiums for this policy are less expensive than Basic or Optional Units.
Yield Protection (YP) insures you against yield losses only, at the base price set at the beginning of the year. It does not insure price declines, but is cheaper than Revenue Protection.
| Coverage | Premium | Liability | Yield Guarantee |
|---|
Premium is the amount you pay for insurance. While you have to enroll prior to Sales Closing (e.g., March 15th for corn in NY and the Midwest, see HERE for all enrollment deadlines), you do not actually pay your premium until around harvest time. The Premiums are intended to be priced so that over time, you should on average collect more in loss payments than you pay into premium since it is subsidized, though this may vary from year-to-year ,and producer-to-producer. So, you shouldn't expect to recieve loss payments every year. Only you know if it is a good investment for your operation.
Coverage level is an election made by you, which determines what percent of your expected yield is covered. It is similar to a deductible. For example, if your expected yield (your average historical yield, known as Approved Yield) is 100 bushels/acre, and you elect a 75% Coverage Level, then you will get a loss payment if your yield is less than 75 bushels/acre due to insured causes.
This information is a premium estimate only, and is only for educational purposes. You must refer to an authorized crop insurance agent for official quote(s) and specific information regarding insurance coverage, actuarial information, conditions and exclusions.
Actual Yield
(end of season):
Policy Revenue
(actual yield times preseason price):
The "Net Payment" graph is the indemnity or loss payment you would recieve, minus what you paid in premium.
The "Liability" graph shows your amount of coverage (the maximum you would be paid in event of total loss).
The liability of the insurance policy is the revenue that is guaranteed you will make at harvest time. You can think of liability as the amount of your revenue that is covered under the
insurance program. For Yield Protection, the liability is set at the insurance date and is calculated based on the projected sales price of the crop and your historic yield.
Yield Protection insures yield, so in order to collect an indemnity, your yield must be below your yield guarantee. In the case that your yield is below your yield guarantee, you will recieve
and indemnity equal to the difference between your yield guarantee and actual yield multiplied by the projected price that is set at the signing of the insurance contract.
Different insurance agents may have different preferences for when you report damage or loss to your crop, so it is best to form a close relationship with your insurance
agent so you can establish the means of reporting.
Actual Production History (APH) insures you against yield losses only, at the base price set at the beginning of the year. It does not insure price declines, but is cheaper than Revenue Protection.
| Coverage | Premium | Liability | Yield Guarantee |
|---|
Premium is the amount you pay for insurance. While you have to enroll prior to Sales Closing (e.g., March 15th for corn in NY and the Midwest, see HERE for all enrollment deadlines), you do not actually pay your premium until around harvest time. The Premiums are intended to be priced so that over time, you should on average collect more in loss payments than you pay into premium since it is subsidized, though this may vary from year-to-year ,and producer-to-producer. So, you shouldn't expect to recieve loss payments every year. Only you know if it is a good investment for your operation.
This tool provides current premium quoteCoverage level is an election made by you, which determines what percent of your expected yield is covered. It is similar to a deductible. For example, if your expected yield (your average historical yield, known as Approved Yield) is 100 bushels/acre, and you elect a 75% Coverage Level, then you will get a loss payment if your yield is less than 75 bushels/acre due to insured causes.
This information is a premium estimate only, and is only for educational purposes. You must refer to an authorized crop insurance agent for official quote(s) and specific information regarding insurance coverage, actuarial information, conditions and exclusions.
Actual Yield
(end of season):
Policy Revenue
(actual yield times preseason price):
The "Net Payment" graph is the indemnity or loss payment you would recieve, minus what you paid in premium.
The "Liability" graph shows your amount of coverage (the maximum you would be paid in event of total loss).
The liability of the insurance policy is the revenue that is guaranteed you will make at harvest time. You can think of liability as the amount of your revenue that is covered under the insurance program.
RP insures you against revenue losses (price times yield). So, this policy protects against low yields and/or low prices. Additionally, the price used to set your revenue baseline will adjust up and provide you higher coverage if prices go up at harvest.
| Coverage | Premium | Liability |
|---|
Premium is the amount you pay for insurance. While you have to enroll prior to Sales Closing (e.g., March 15th for corn in NY and the Midwest, see HERE for all enrollment deadlines), you do not actually pay your premium until around harvest time. The Premiums are intended to be priced so that over time, you should on average collect more in loss payments than you pay into premium since it is subsidized, though this may vary from year-to-year ,and producer-to-producer. So, you shouldn't expect to recieve loss payments every year. Only you know if it is a good investment for your operation.
Coverage level is an election made by you, which determines what percent of your expected Revenue is covered. It is similar to a deductible. For example, if your expected revenue (your average historical yield, known as Approved Yield, times the Base Price) is $800/acre, and you elect a 75% Coverage Level, then you will get a loss payment if your actual revenue is less than $600/acre due to insured causes.
This information is a premium estimate only, and is only for educational purposes. You must refer to an authorized crop insurance agent for official quote(s) and specific information regarding insurance coverage, actuarial information, conditions and exclusions.
The "Net Payment" graph is the indemnity or loss payment you would recieve, minus what you paid in premium.
The "Liability" graph shows your amount of coverage (the maximum you would be paid in event of total loss).
The liability of the insurance policy is the revenue that is guaranteed you will make at harvest time. If your actual revenue after the harvest period is below your liability, you can collect an indemnity.
For Revenue Protection, the liability can change during the insurance period. This is because the liability for Revenue Porection is calculated based on your yield multiplied by whiechever price is higher, \
the projected price or the harvest price. This works in the farmer's favor because this means that the highest liability between the two prices is selected. You will be able to collect an indemnity, when your
actual revenue is less than your liability.
Different insurance agents may have different preferences for when you report damage or loss to your crop, so it is best to form a close relationship with your insurance
agent so you can establish the means of reporting.
RP-HPE insures you against revenue losses (price times yield). So, this policy protects against low yields and/or low prices. But the price used to set your revenue baseline is fixed and will NOT adjust up if prices go up at harvest. It is cheaper than regular Revenue Protection
| Coverage | Premium | Liability |
|---|
Premium is the amount you pay for insurance. While you have to enroll prior to Sales Closing (e.g., March 15th for corn in NY and the Midwest, see HERE for all enrollment deadlines), you do not actually pay your premium until around harvest time. The Premiums are intended to be priced so that over time, you should on average collect more in loss payments than you pay into premium since it is subsidized, though this may vary from year-to-year ,and producer-to-producer. So, you shouldn't expect to recieve loss payments every year. Only you know if it is a good investment for your operation.
Coverage level is an election made by you, which determines what percent of your expected Revenue is covered. It is similar to a deductible. For example, if your expected revenue (your average historical yield, known as Approved Yield, times the Base Price) is $800/acre, and you elect a 75% Coverage Level, then you will get a loss payment if your actual revenue is less than $600/acre due to insured causes.
This information is a premium estimate only, and is only for educational purposes. You must refer to an authorized crop insurance agent for official quote(s) and specific information regarding insurance coverage, actuarial information, conditions and exclusions.
The "Net Payment" graph is the indemnity or loss payment you would recieve, minus what you paid in premium.
The "Liability" graph shows your amount of coverage (the maximum you would be paid in event of total loss).
The liability of the insurance policy is the revenue that is guaranteed you will make at harvest time.
If you have low yield during that harvest, and your actual revenue after the harvest period is below your liability, you can collect an indemnity.
For Revenue Protection with Harvest Price Exclusion, the liability is set at the insurance date and is calculated based on the projected sales price of the crop.
Different insurance agents may have different preferences for when you report damage or loss to your crop, so it is best to form a close relationship with you insurance
agent so you can establish the means of reporting.
Connect your preferred Precision Ag system for advanced insights & features.