Crop Insurance
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At Farm Home Services we are committed to providing the best crop insurance for the American Farmer through specialized expertise and individualized care!

Your livelihood depends on your business — your crops. You invest a significant amount of time, hard work and money into them. Without insurance protection for your crops, your income could be devastated.

Providing:

Crop Hail, Fire, Transit

Protect, on an acre basis, your crop and potential income from loss or damage due to:

  • Hail
  • Fire
  • Transit-or upset

(Wind damage in some states and on some crops)

Crop-Hail policies protect against the one catastrophe that is most likely to totally destroy a portion of your crop and leave the rest looking fine. The portion hail takes out may well be less than the deductible of your MPCI, CRC or RA policy, so many producers fill that gap with a special crop-hail policy. While your MPCI, CRC or RA policy protects you against losses severe enough to significantly drop the whole farm’s yield average, crop-hail insurance gives you acre by acre protection that can be up to the actual cash value of the crop.

You can also buy additional coverage during the growing season (prior to damage) to protect added profit potential from bumper crop yields or higher-than-normal crop values.

If you live in an area where the frequency of hail damage is high, ask your crop insurance agent to demonstrate how crop-hail coverage can best work for you.

Crop Hail Coverage is Provided on Crops Such As

Alfalfa, Barley, Buckwheat, Cotton, Corn, Cranberry, Crambe Rice, Canola, Chili Peppers, Dry Beans, Flax, Fresh Vegetables, Grain Sorghum, Millet, Mint, Oats, Popcorn, Peanuts, Potatoes, Rye, Seed Corn, Sunflowers, Soybeans, Sugar Beets, Safflower, Tobacco, Tree Fruits, Triticale and Wheat

(And Other Specialty Crops in Selected States)

Types of Coverage Available

  • Full or basic
  • Deductibles including-DXS 5%, DXS 10%, XS10, XS10IP, XS15IP, XS20IP, DDA, DDB, DDC & D-20
    (These coverages vary by state)
  • Reimbursement for replanting certain crops when and where damage warrants.
    (see an agent for details)
  • *Variations and exceptions to these are handled on a state-by-state basis per the underwriting authorities.

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Companion Hail

This coverage plan is intended to cover (on an acre basis) the portion of the crop not insured under your MPCI, CRC or RA policy (reinsured by the Federal Crop Insurance Corporation) and which is identified as the difference between the potential yield and the yield guaranteed by such policy.

The coverage will be provided as an optional endorsement to the National Crop Insurance Services (NCIS) - Crop Hail Policy and all provisions of that policy will apply except as amended by both the optional provisions endorsement and conditions and the Schedule of Insurance and application for Companion Hail Insurance coverage.

Coverage is provided for the perils of: Hail, Fire and Transit

A payment for loss will be made only after the damage to the crop exceeds 5%, (15% for Factor 2.5) as measured by the claims adjuster. (This deductible provision may be deleted in some states and then only when a surcharged rate will accommodate the deletion) This deletion is referred to as a B&C option--for further information contact either an underwriter or contact our office for an agent in your area.

The IP factor acts as a payment escalator. Once the deductible has been met the net damage % payable is multiplied by the factor therby providing a quicker liability pay-out. After the Companion Plan has reached full pay-out the MPCI policy will in most cases begin to pay for the damage insured subsequent to its deductible.

Illustration:
Policy Reinsured by the FCIC
(Level of Coverage)
Increasing Payment Factor Limit of Insurance
(Normal Value of Your Crop)
50% 2.0 / 2.5 top 1/2 of crop
50% 2.0 / 2.5 top 1/2 of crop
65% 3.0 top 1/3 of crop
75% 4.0 top 1/4 of crop

It should be noted that their are (8) eight elections available under the MPCI policy - 50,55,60,65,70,75,80 and 85.

If you choose to insure under this plan of coverage the limit of coverage per acre and IP factor you choose should conform as closely as possible.

At no time will the coverage provide for payment for more than the total coverage per acre as shown on the schedule of insurance.

No policy reinsured or approved by FCIC will be prorated with this policy.

Coverages not available under this coverage:
  • Catastrophy Loss Award
  • Any excess over loss or deductible optional provisions
  • Any special provisions identified as minimum loss

(Any payment for replanting the crop will be limited to an appraisal for any late planting allowance. Actual cost of replanting is not covered. The 5% excess over loss provision and IP factor will apply to any late planting allowance.

Loss Payment Illustration:
Multiplied by the IP Factor Elected Excess Average
% of damage Excess over 5% Factor 4. Factor 3. Factor 2. 15% Factor 2.5%
5% 0% 0% 0% 0% 0% 0%
20% 15% 60% 45% 30% 5% 12.5%
40% 35% 100% 100% 70% 25% 62.5%

COVERAGE WILL BE WRITTEN ONLY IF THERE IS A MULTI-PERIL POLICY BEING WRITTEN WITH--BLAKELY CROP HAIL, INC.

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Short Term Grain

Insurance on grain (cut or uncut) while in windrow, on cultivated premises and while in storage facilities (except commercial storage). Will cover the perils of fire and lightning only in the field.

In consideration of additional premium this policy is also extended to include direct loss by windstorm, hail, explosion, aircraft, vehicles, and smoke while the grain is in a storage building.

(see an agent for details) Coverage available in selected states.

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Catastrophic Crop Coverage (CAT)
  • Coverage 50% of APH and 55% of Market Price
  • Basic units by entity only
  • May use past production history (if provided timely and accepted by the company.)
  • No replant payment
  • Administrative Fee - $100.00 per crop per county

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Multiple Peril Crop Insurance (MPCI)
  • Provides coverage to growing crops for a multiple range of perils
  • Coverage may be provided if you are prevented from planting the insured crop
  • Replanting reimbursement is available (on some crops) which fail after initial planting
  • All acres of the insured crop in the county must be insured
  • Provides guaranteed yield coverage based on your actual production history (if provided & accepted)
  • You select a coverage level from 50-75% of the APH in increments of 5% (80-85% coverage levels available in some areas) (pilot programs in some states provide up to 85% coverage)
  • Provides 100% of published price election.
  • Coverage is provided as a bushel guarantee. (APH yield times the coverage level.)

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Crop Revenue Coverage (CRC)
  • Coverage is available as a stand-alone policy for Corn, Cotton, Grain Sorghum, Rice, Soybeans and Wheat in selected states
  • Protects against low prices, low yields or a combination of both
  • Coverages and exclusions are similar to the standard MPCI policy
  • Guarantees revenue using a regional Board of Trade (BOT)
  • Your Actual Production History (APH) is used to determine the guarantee on a basic, optional or enterprise unit
  • Additional protection is provided if the nearby harvest futures price (harvest price) exceeds the base price.
  • Coverage for weather related perials as well as unavoidable causes of loss and price fluctuations.
  • Replanting & prevented planting coverage is provided.
  • Wheat-replanting and option A & B coverage is provided in counties with both a spring and fall planting date.
  • The guarantee is the (APH) historical yield X the selected level of coverage (50-75%) in increments of 5% (80-85% levels available in some areas) X the insured acreage and the higher of the base or harvest price. (Maximum price increase or decrease between the base and harvest price is Corn $1.50, Grain Sorghum $1.50, Soybeans $3.00, Cotton $0.70/lb and Rice $0.05lb.

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Revenue Assurance (RA)
  • Coverage is available as a stand alone policy for Corn, Soybeans, Spring/Winter Wheat, Canola/Rapeseed, Sunflowers. (Coverage on some crops not available in all states.)
  • Protects against low prices, low yields or a combination of both
  • Coverage for weather related perils, low price and certain other unavoidable courses of loss.
  • A fall harvest price option is available (provides increased protection if the near harvest price (fall harvest price) is higher than the projected harvest price). (Insured must elect this option by sales closing date.)
  • Offered in the states of Arkansas, Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, North Dakota, Ohio, Oklahoma, South Dakota and Tennessee.
  • Premium Discount for Enterprise or Whole Farm units
  • Guarantees revenue using the Chicago Board of Trade (CBOT)
  • Coverage levels are available from 65-75% of the APH X the projected price (80 and 85% levels are available in some areas.)
  • Features a Fall Harvest Price Option which allows you to use the greater of the fall harvest price or the projected harvest price to determine your revenue guarantee.
  • High Risk Land is insurable.

Revenue Assurance
(with option)
- Project Harvest Price $2.40 * APH 140bu * Level 75%
- Fall Harvest Price $2.65 * Interest in crop 100% * 95bu Harvested Production.

Revenue Guarantee
- $2.65 X 140 X 75% = $278.25

Loss Scenario
95 bu X $2.65 Harvest price = $251.75 Revenue
- Guarantee $278.25 * Revenue $251.75 * Payment $ 26.50 (per acre)

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Income Protection Coverage (IP)
  • Coverage is available for Fall Wheat, Corn, Cotton, Grain Sorghum, Soybeans.
  • Provides protection against reduction in gross income from a combination of low yields and low harvest prices.
  • Coverage levels are available from 50% - 75% and 100% of the APH price. (80 and 85% levels are available inn limited areas.)
  • Provides coverage is based on an Enterprise Unit.
  • Provides coverage using both your APH and the County Yield Index.
  • Projected and Harvest prices are established by using the regional Board of Trade (BOT). Indemnities will be based on the Harvest Price.
  • Offered in selected states and on selected crops.
  • Coverage is not available on high risk land.
  • Provides prevented planting and replanting protection for Wheat.
  • Multiply the harvested production plus any appraisals, by the near harvest features (Harvest price) by the ownership share to determine the value of production. The price of the crop when sold does not affect the amount of indemnity.

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Group Risk Income Protection (GRIP)
  • Adds price protection feature to the Group Risk Plan of Insurance.
  • Indemnity is a county based form of revenue insurance.
  • 5 levels of coverage from 70-90% (in 5% increments) of the expected county revenue.
  • Amount of protection can range from 60-100% of the maximum protection per acre as specified in the actuarial documents.
  • Available for corn and soybeans in the states of Indiana, Illinois and Iowa.
  • Offered in all GRP counties in Indiana, Illinois and Iowa.
  • Revenue is the loses of coverage.
  • The coverage unit is all the crops in the county.
    Loss Payment Illustration:
    Multiply the payment calculation factor (the county revenue minus the insured's trigger revenue, divided by the insured's trigger revenue) times the insured's protection per acre, time the insured's share.
Trigger Revenue 40bu/Ac X $5.50 X 85% X 100 acres = $18,700.00
County Revenue 25bu Ac $6.20 X 100 acres = $15,500.00
Revenue Loss $3,200.00
Loss Payment ($3,200.00/$18,700.00 X ($380 X 100%) 100 ac X share = $6,502.00

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Group Risk Plan Insurance (GRP)
  • A program based on the premise that when an entire county’s crop yield is low, most of the farmers will also have low yields.
  • You report your share in the planted acres
  • You select the amount of $ per acre coverage from the schedule
  • You select your % of participation from the schedule
  • Payments are based on the expected county yield
  • Claim settlements are determined by FCIC based on National Agricultural Statistics Service (NASS) on a county yield basis
  • Individual yield results are not needed to calculate an indemnity
  • Forage Production GRP-CAT coverage is available at 65% of the expected county yield and 55% of the maximum protection per acre.
Illustration
Selected Coverage $275.00 Ac
% of county yield selected 90%
Expected county yield 100bu
Payment yield 80bu
Payment calculation factor 20%
20% X $275.00 = $55.00 Loss Per Ac

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Adjusted Gross Revenue (AGR)

Insures the revenue of the entire farm rather than an individual crop by guaranteeing a percentage of average gross farm revenue, including a small amount of livestock revenue. The plan uses information from a producer's Schedule F tax forms to calculate the policy revenue guarantee.

  • Coverage levels available at 65% and at the 75% payment rate (65/75) also 65/90 75/75, 75/90, 80/90 (additional requirements for eligibility at 75% and 80% levels).
  • Coverage is a revenue guarantee and is based on the lower of projected income for the insurance year or a 5 year average of allowable schedule F income (including adjustments) on a calendar or fiscal year basis.
  • Revenue to count includes - sale of animals and other ag commodities purchases for resale less the cost or other basis of the animals or other commodities.
  • A loss payment is made due to an unavoidable peril occurring during the insurance period. The loss is calculated by multiplying the approved AGR (adjusted if allowable expenses fall below 70% of the average allowable expense) by the selected coverage then subtract the revenue to count, including applicable accrual adjustments, and multipling the result by the payment rate.
  • The unit of insurance is the whole farm unit.

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Supplemental Products

MPCI 90 & CRC 90

  • These products supplement the MPCI or CRC coverage
  • Insured may add on to the maximum bushel / pound price already provided by FCIC (Subject to BCH underwriting limits)
  • Coverage available on Corn, Soybeans, Grain Sorghum, Wheat, Barley, Corn Silage
  • Coverage available in the states of: KS, NE, IA, ND, SD, MN, CO, MO, WY, IL, Wisc & IN
  • Coverage on Cotton available only in MI, OH
  • Applications will be accepted subject to company underwriting guidelines and timely submitted policy information

VAO: Value Added Option

  • An endorsement to Crop Revenue Coverage (CRC)
  • Coverage available in the states of: CO, IN, IA, KS, MN, MO, NE, ND, OH, SD, WI, MI & WY
  • Coverage available on Corn, Soybeans & Wheat only.
  • Provides increased indemnity when the harvest price is less than the base price.
  • Applications will be accepted subject to company underwriting guidelines and timely submitted policy information.
  • Add on price cap will apply if the Board of Trade price and the VAO add on price exceed the company limits (by crop).

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