At Farm First Crop Insurance, we offer 3 Approved Insurance Providers (AIP). The benefit of having 3 companies is that each one has crop hail and private products that make them stand apart from the others. Writing for multiple companies gives us the opportunity to customize a plan for your operation.
Yield Protection
Yield Protection (YP) provides coverage to guarantee yields based on your production history. The YP policy is based on the projected price (spring price) and your history. This policy provides protection from low yields, poor quality, replanting, and prevented planting. Nearly all natural disasters are covered, perils such as: drought, excess moisture, cold/frost, wildlife, disease, and insects. The benefit to a YP policy is that is less expensive than the RP policy, while still protecting your farm against yield losses caused by natural disasters.
Revenue Protection
Revenue Protection (RP) provides coverage to guarantee revenue. With this product you will receive the higher of the projected (spring price), or the harvest price to form your guarantee. This policy provides protection from low prices, low yields, poor quality, replanting, and prevented planting. Nearly all natural disasters are covered, perils such as: drought, excess moisture, cold/frost, wildlife, disease, and insects. The benefit to a RP policy is the additional security that it provides when marketing grain. Unlike the YP Policy, RP factors in the harvest price to give you the better guarantee to help protect your farm’s revenue.
Crop Hail policies can be paired with a MPCI policy, or stand on their own. This policy protects against hail, fire, theft, storage, and transportation of the grain. Writing with 3 AIP’s we can find the right fit to better protect your operation.
There are many private products in crop insurance. The companies set themselves apart on their private products. Writing with 3 AIPs we have more opportunities than most to tailor the perfect combination of private products with your MPCI. These include replant supplements that can be added on top of your MPCI replant payment, Downed Rice, STAX, and many more. Contact our office and let us help meet all of your operation's needs!
Pasture, Rangeland, and Forage is a product that has really been gaining attention. With a PRF policy you can protect your grazing, and hay ground against the lack of rainfall. Based on rainfall measurements from NOAA you choose at least two-two month intervals (interval is comprised of 2 months) that you do not anticipate the adequate rainfall. After looking at the projected rainfall in the intervals selected, you distribute how much to put into each interval. An example of this would be: If a rancher does not expect enough rain in June-July and wants to put 50% in that interval, and August-September put the remaining 50%. The highest amount that can be placed in an interval is 60%. You can select as many intervals as you would like as long as a month is not used twice. There are no claims process, no adjuster, after 60 days past the selected interval if the rainfall does not meet the projected amount you will receive a check.
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