All farmers and ranchers have one thing in common: the need to manage risk, whether from weather, markets, or other forces. Crop insurance can be a useful tool for farmers and ranchers in managing risk.
But there can be several reasons why many farmers and ranchers don’t buy crop insurance. Maybe they don’t believe there’s an option applicable to their operation. Maybe they don’t know how to find a crop insurance agent to work with, or what questions to ask when they meet with an agent.
New resources are available for farmers and ranchers from the Center for Rural Affairs on these and related topics. The Center can address questions about what crop insurance options are available, how crop insurance works, and how to decide which option is right for an operation. Check out our chart below for fact sheets and recorded webinars on the topic. Farmers and ranchers are also invited to call our office to speak with our staff if they have questions.
Looking for a crop insurance agent? Search here.
Please reach out to our staff with any questions: 402.687.2100
- Anna Johnson (ext. 1027), firstname.lastname@example.org
Flexible crop insurance option, Whole Farm Revenue Protection
For many crops and livestock, it’s simply not possible to protect them with a crop-specific policy. What if there isn’t a crop insurance policy available in your county for the crop you’d like to cover? Whole Farm Revenue Protection (WFRP) could be a helpful option. Available in every county, the plan covers the revenue for your entire operation, making it possible to expand protection for your crops and livestock.
Expanding risk management options to more farmers makes sense. Sometimes banks require proof of insurance in order for farmers to qualify for loans, so purchasing this product helps with expanding credit availability to farmers.
If you’re a producer thinking about purchasing WFRP for your operation, contact an insurance agent to get the ball rolling on your application. You can find an insurance agent in your area at this link. Deadlines to purchase Whole Farm Revenue Protection vary by region, but are generally one of Jan. 15, Feb. 15, or March 15. Look up your local deadline here.
Revenue insurance options for livestock
Livestock producers face high financial risks in ever-changing markets. To help producers mitigate these risks, the U.S. Department of Agriculture Risk Management Agency provides two revenue insurance product options—Livestock Gross Margin (LGM) and Livestock Risk Protection (LRP). Whole Farm Revenue Protection (WFRP) also offers a flexible crop insurance option.
The resources below provide more information on the options available.
Crop insurance resources
Some of this material is funded in partnership by U.S. Department of Agriculture, Risk Management Agency, under award number RM18RMEPP522C015.