Crop Insurance 101: Individual Plans
Individual Plans are based on individual yield loss and, in some plans, a decline in price, due to a wide range of perils.
Below are popular MPCI individual plans available for Iowa corn and soybean farmers.
Revenue Protection (RP)
Insure against revenue loss due to an increase or decrease in yield and/or price with RP. The final revenue guarantee is based on the higher of the projected price or harvest price.
Revenue Protection with Harvest Price Exclusion (RP-HPE)
Insure against revenue loss due to a decrease in price and/or yield with RP-HPE. The final revenue guarantee is based only on the projected price, therefore providing no upside price protection.
Yield Protection (YP)
Protect yourself against production losses due to a decrease in yield with YP.
Actual Production History (APH)
Protect yourself against individual yield loss based on your individual APH. You can receive protection against many natural disasters, such as drought, frost, wind, and flood. APH differs from Yield Protection in that the RMA sets the price elections.
To learn more about the insurance products available for farm risk management, reach out to Chelsea Heatherington at Kingsgate Insurance.
Chelsea Heatherington, Farm & Ag Specialist
Call or Text: 515-302-8400
Email: chelsea@kingsgateins.com
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