AgRisk Advisors serves producers in the western United States. All products offered can be effective
risk-management strategies, minimizing risk in this geography and climate.

FULL PRODUCT LIST

The Annual Forage Insurance Plan is designed to meet the needs of producers planting annual forage crops for use such as livestock feed or fodder. This includes, but is not limited to, grazing, haying, grazing/haying, grain/grazing, green chop, grazing/green chop, or silage.
Similar to Pasture, Rangeland and Forage Insurance, the Annual Forage Insurance Plan is based off of rainfall index data provided by the National Oceanic and Atmospheric Administration Climate Prediction Center. With the Annual Forage Insurance Plan, producers are able to insure annual forage production value by dividing their liability across a series of two month intervals and insuring based on the Expected Grid Index representing the average precipitation data for the Grid ID. Each grid has a historic precipitation index calculated for it for each of the two month intervals dating back to 1948. The policy is designed to insure both irrigated and non-irrigated acres.

The United States currently produces about 163 million pounds of honey each year. This program uses various indexing systems to assess plant growth and vigor, which correlates to honey production.

This program is based on where the colonies MAY BE located at various times of the year. This can be in a home state or during transportation during pollination.

This program provides the lowest level of yield protection available. CAT insures 50% of production at 55% of the base price for a fee of $300 per crop. CAT has no optional units and does not pay for replants. CAT coverage provides very little coverage…usually discovered at loss time.

Crop Hail coverage provides protection against physical damage from hail and/or fire. Most hail policies include extended coverages like fire and lightning, vandalism and malicious mischief, and certain perils while in transit and storage, at no additional cost to you.

How Does It Work?

A dollar amount of coverage is selected by the producer. Options with different deductibles may be selected to permit a producer to partially self-insure for reduced premium costs.

Coverage is provided on an acre-by-acre basis, so that damage that occurs on only part of a farm may be eligible for payment when the rest of the field remains unaffected

Livestock Gross Margin (LGM) provides coverage for the difference between the commodity and feeding costs.  If the producer-determined expected gross margin is greater than the actual gross margin, an indemnity is due.

This policy is designed to insure against declining market prices of livestock and not any other peril.  Coverage is determined using futures and options prices from the Chicago Mercantile Exchange (CME) Group.  Price insurance is available for swine, cattle, lambs and milk.  Producers decide the number of head (cwt of milk) to insure and the length of the coverage period.

Livestock Risk Protection (LRP) provides coverage against market price decline.  If the ending price is less than the producer-determined beginning price an indemnity is due.

This policy is designed to insure against declining market prices of livestock and not any other peril.  Coverage is determined using futures and options prices from the Chicago Mercantile Exchange (CME) Group.  Price insurance is available for swine, cattle, lambs and milk.  Producers decide the number of head (cwt of milk) to insure and the length of the coverage period.

The Margin Protection (MP) plan of insurance is a privately developed product that was submitted to the FCIC Board under Section 508(h) of the Federal Crop Insurance Act. Margin Protection is offered as an area based plan that can be purchased as a stand-alone policy or purchased in conjunction with a Yield Protection or Revenue Protection policy. The plan provides producers with coverage against an unexpected decrease in their operating margin.

Starting in the 2016 crop year, the new Margin Protection (MP) plan will be available in addition to underlying crop insurance policies in select counties starting for corn, rice, soybeans, and spring wheat.

The plan provides coverage that is based on an expected margin, which is the expected area revenue minus the expected area operating costs, for each applicable crop, type and practice. Margin protection is area-based coverage and may not necessarily reflect a producer’s individual experience. The margin protection plan can be purchased by itself, or in conjunction with Yield Protection or Revenue Protection policy.

Margin protection will be available for rice in select Arkansas, California, Louisiana, Mississippi, Missouri and Texas counties. Coverage is available for spring wheat in select Minnesota, Montana, North Dakota and South Dakota counties. Corn and soybeans in all Iowa counties will be eligible for margin protection insurance.

A producer may choose coverage from 70 percent to 90 percent of their expected margin. A higher level of coverage will have a higher premium rate. The catastrophic (CAT) level of coverage is not available under this policy.

A federally-subsidized Nursery Crop Insurance program is available in all states to all persons operating nurseries that meet certain criteria.

Insurance coverage applies, by practice (field-grown or container), to all of your nursery plants in a county that:

  • Are on the Eligible Plant List
  • Are grown in a nursery that receives at least 50 percent of its gross income from the wholesale marketing of nursery plants
  • Meet all the requirements for insurability
  • Are grown in an appropriate medium.

Nursery plants may not be insured if they:

  • Are grown in containers containing two or more different genera, species, subspecies, varieties, or cultivars
  • Are grown for sale as Christmas trees
  • Are grown as stock plants
  • Are grown solely for harvest of buds, flowers, or greenery

Plants producing edible fruits and nuts can be insured if the plants are available for sale. Harvesting the edible fruit or nuts does not affect insurability. Your nursery must be inspected and approved as acceptable before insurance coverage can begin.

Causes of Loss You are protected against the following:

  • Adverse weather conditions, including wind, hurricane and freeze. If cold protection is required by the Eligible Plant List, adequate and operational cold protection measures must be in place
  • Failure of irrigation water supply, if due to an insurable cause of loss, such as drought
  • Fire, provided weeds and undergrowth are controlled
  • Wildlife.

Plant damage or losses in value as a result of the following situations are not covered:

  • Collapse or failure of buildings/structures, unless caused by an insurable cause of loss
  • Disease or insect infestation, unless effective control measures for the infestation do not exist
  • Failure of plants to grow to an expected size
  • Inadequate power supply, unless such inadequacy is a result of an insurable cause of loss
  • Inability to market nursery products due to a stop sales order, quarantine, boycott, phytosanitary restriction on sales, or buyer refusal.

Important Dates

  • Sales Closing/Cancellation | May 1
  • Contract Change Date | January 31
  • Insurance Period Begins | June 1

Coverage Levels and Premium Subsidies Coverage levels range from 50 to 75 percent of your plant inventory value. Crop insurance premiums are subsidized as shown in the following table. For example, if you selected the 75-percent coverage level, your premium share would be 45 percent of the base premium.

This plan of insurance provides protection against a single peril – lack of precipitation.  Coverage can be purchased by landlords, tenants and owner/operators for those acres important to their haying or grazing operation.  Producers may select a variety of coverage levels, productivity factors and two-month intervals to personalize their plan.  The Rainfall Index program uses weather data collected by the National Oceanic and Atmospheric Administration (NOAA) to determine rainfall levels.  Losses are based on a rainfall index and when the precipitation in the Grid and Index Interval declines from its long-term historical norm.

PriceFlex is a private insurance product offered through the Silveus Insurance Group, that allows producers the opportunity to lock in higher prices today for next year’s crop insurance.

  • Can be purchased 18 months before harvest
  • No out of pocket cost until next harvest
  • Corn, soy, wheat & cotton

Rainfall Index (RI)  is based on weather data collected and maintained by NOAA’s Climate Prediction Center. The index reflects how much precipitation is received relative to the long-term average for a specified area and timeframe.

County Availability (PDF)

Basic Provisions (PDF)

This program provides protection against revenue loss due to a decline in both crop prices and yields.  Producers may select from a variety of coverage levels to personalize their policy.  If the actual yield falls below the yield guarantee or if the actual revenue falls below the minimum or revised revenue guarantee, an indemnity is paid.  RP provides a minimum revenue guarantee that can increase as much as 200% over the minimum guarantee if the crop insurance harvest price is higher than the projected price.

WFRP allows farmers to insure historic revenue across all commodities on the farm under one insurance policy, rather than each individual commodity. It is designed for farms to insure between 50 to 85% of their gross revenue, up to $8.5 million of revenue guaranteed. Producers with specialty or organic commodities – both crops and livestock, or those marketing to local, regional, farm-identity preserved, or direct markets, are eligible.

Whole Farm Revenue Protection insures farmers against loss of revenue from commodities produced during the insurance period and commodities purchased for resale during the insurance period, and also provides replant coverage for annual crops. The number of commodities produced is a measure of the farm’s diversification, and determines the minimum proportion of revenue a commodity must contribute to the farm to be considered for WFRP. The commodity count calculation determines:

  • If the farm meets the 3-commodity requirement needed to qualify for 80-85% coverage levels;
  • The amount of premium rate discount due to farm diversification; and
  • The subsidy amount – farms with 2 or more commodities receive a whole-farm subsidy

WFRP Eligibility

  • Be eligible to receive Federal Benefits
  • Be a U.S. citizen or resident
  • File a Schedule F tax form or other farm tax to be converted to a Substitute Schedule form for five year
  • No more than $8.5 million in insured revenue, which is the farm revenue allowed to be insured under the policy multiplied by the coverage level you select
  • Have no more than $1 million expected revenue from animals and animal products
  • Have no more than $1 million from greenhouse or nursery products
  • No more than 50 percent total revenue from commodities purchased for resale
  • Have ‘buy-up’ coverage levels on Federal crop insurance plan you choose with WFRP
  • Meet the diversification requirements of the policy by having two or more commodities, if a commodity you are raising has revenue protection or revenue history insurance available
  • Meet the diversification requirements of the policy by having two or more commodities, if there are potatoes on the farm