Yes, as long as they do not insure the same livestock in the same period.

No, it only protects against market price/margin risk.

No, insurance does not change your pay price for livestock.

No, coverage is only for livestock marketed for slaughter at fair market value.

LRP and LGM: First day of the second month following the end date of coverage.
DRP: First day of the third month following the end of the insurance period.

Contact your local GreenStone Livestock Insurance Specialist.

Premiums vary depending on market prices for the gross margin guarantees, number of months that are insured in an insurance period, and deductible level. Premiums also vary depending on market prices and contract specifications. Subsidies for premiums are available to those purchasing two or more months of insurance in each sales close.

LGM-Dairy uses futures prices for corn, soybean meal, and milk to determine the expected gross margin and the actual gross margin.

Feed quantities are determined using corn equivalents (energy) and soybean meal equivalents (protein) based on the producer’s ration to produce the amount of milk insured. Producers also have the option of using standard feed rations.

• Convenience: Producers can sign up for LGM-Dairy 12 times a year and can cover one through 10 months of their margin each time.
• Customization: LGM-Dairy can be tailored to fit any size dairy farm and for any month, or months, of the year.
• Bundled Option Insurance: This insurance is similar to buying both a call option to limit higher feed costs and a put option to set a floor on milk prices.

Crop insurance covers financial risk due to loss of yield caused by weather or other environmental conditions, and/or the loss of revenue due to declines in agricultural commodity prices.

Hail insurance is a risk management policy that covers hail damage to crops. It can be purchased separately or in addition to your usual multi-peril crop insurance (MPCI) policy. Coverage includes damage from hail, fire, and lightning, transit coverage (to first destination if overturns), fire department service charge, vandalism, and green snap (if this endorsement is selected). Hail insurance is available on most crops in most counties.

Yes. Hail damage is a covered peril. You can receive an indemnity if you suffer a yield loss below your bushel guarantee.

Yield Protection insures against yield losses. Revenue Protection insures against revenue declines. It provides protection in the event yields are normal, but prices decline. Revenue Protection includes a bushel guarantee like Yield Protection, while also protecting you against a decline in revenue due to declining prices and/or yield losses.

No. You can insure each section individually, but you cannot insure individual fields.

The Chicago Board of Trade (CBOT) December corn futures price and November soybeans futures price through the month of February are used to determine the projected price. The prices are the same for every producer in the state who purchases crop insurance. Your final sales price at the elevator does not matter.

In the event of a prevented plant claim, you will be compensated 55% of your guarantee on corn and 60% of your guarantee on soybeans. Additional prevent plan coverage that compensates for a higher percentage is available for purchase.

Enhanced Coverage Option (ECO) and Supplemental Coverage Option (SCO) are cost effective risk management tools that help protect against a falling price floor.

Enhanced Coverage Option (ECO) is an area-based band of coverage that’s attached to your existing eligible crop insurance policy. ECO crop insurance coverage provides two coverage levels to choose from depending on your specific needs: 86-90% or 86-95%.

Supplemental Coverage Option (SCO) is a county policy that can be stacked on top of your underlying revenue or yield protection coverage. It adds coverage to the base policy up to 86% of crop value. The stacked SCO policy provides area-based coverage.

You must report what you planted in the spring to your crop insurance specialist by July 15. Premiums will then be generated for your policy by August 15. Premium bills will be sent out on August 15 and are due by September 30.

No. If you insure your non-irrigated crop in the county, then you must insure the irrigated crops in that same county as well. However, you can select different coverage levels for irrigated and non-irrigated crops. You can make separate claims on each crop.

It depends. With a revenue protection policy, the price at which you sell your crop does not matter. A combination of the projected price, harvest price, and yield is used to determine if a payment will be made. (Refer to the question “How is the compensation for a loss calculated for a revenue and yield policy?” above for further details.)

Yes. Crop insurance provides a higher claim compensation price for organic crops if you have an organic certification.

You can insure 50% to 85% of your average yield history on an individual revenue protection plan. Additional coverage, such as ECO, or certain private products can insure above an 85% level.

Crop insurance is purchased by agricultural producers and subsidized by the federal government. It protects against the loss of crops due to natural disasters (hail, drought, floods, etc.) or the loss of revenue due to declines in the prices of agricultural commodities.

Whole-Farm Revenue Protection (WFRP) insurance provides coverage against the loss of revenue that you expect to earn or will obtain from commodities you produce or purchase for resale during the insurance period, under one insurance policy.

The Micro Farm policy is available through Whole Farm Revenue Protection (WFRP) for operations earning average revenue of $350K per year or less, or $400K per year for carryover insureds. The micro farm option simplifies the record keeping typically required for WFRP by eliminating the need for reporting on individual expenses or individual commodities. Micro farm policyholders may consider revenue from post-production costs, such as washing and packaging commodities and value-added products, as allowable revenue under WFRP.

Hail insurance can be purchased at any time throughout the growing season, but the policy must be bound at least two hours before the hail hits the crop. There are some crops that require a longer binding period. Contact your local agent to learn more about your crop’s requirements.

Insurance options can be county dependent for Actual Production History (APH) and Actual Revenue History (ARH) plans. Under an APH policy, you can typically insure apples, blueberries, grapes, and peaches/nectarines. Sweet and tart cherries can be insured under an ARH policy.

The APH and ARH policies for specialty crops are due on November 20. Whole Farm Revenue Protection and Micro Farm policy deadlines are based on your fiscal year and could be as early as the APH and ARH deadlines. The deadline for Whole Farm Revenue Protection is March 15, and the deadline for Micro Farm policies is April 15.

Crop insurance can be very affordable. GreenStone’s crop insurance specialists work with you to understand your goals and identify a plan and price that aligns with your operation’s budget. Forgoing crop insurance could put your operation at risk in the event of adverse weather or natural disasters, especially when considering today’s high input costs. Crop insurance policies are federally subsidized, making the premiums reasonable for producers.

No. Premiums are set by the USDA at a regional level. Your rates will never go up because you filed a claim or received an indemnity.

No. A lack of market (demand) is considered a man-made cause of loss. Crop insurance covers physical damage from an insurable cause of loss such as weather, natural disasters, or revenue loss due to low commodity prices.

Appraisals on unharvested crops are important for maintaining the approved revenue history and production history in the following crop years.

A written notice of damage or loss is to be filed by the policy holder within 72 hours of the initial discovery of damage or loss of production. These notifications provide the opportunity for the insurance company to inspect the crop and determine the extent of the damage.

Yes. All approved Insurance Providers who sell and service federal crop insurance policies must have adequate surplus to cover their written premiums. The AIPs must meet standards set and monitored by the Risk Management Agency (RMA) to ensure financial stability. All policies are reinsured by the Federal Crop Insurance Corporation (FCIC). If an AIP is unable to pay any indemnities owed, a loss would be paid by the FCIC.

Yes. Each policy has its own way of handling quality loss, specific to that crop or commodity. Ask your crop insurance specialist how that works for your planned crops.

Enhanced Coverage Option (ECO) and Supplemental Coverage Option (SCO) are cost-effective risk management tools that can help protect your operation against a falling price floor.

ECO is an area-based band of coverage that attaches to your existing eligible crop insurance policy. ECO crop insurance coverage provides two coverage levels to choose from: 86-90% or 86-95% depending on your specific needs.

SCO is a county policy that can be stacked on top of your underlying revenue or yield protection coverage. It adds coverage to the base policy up to 86% of crop value. The stacked SCO policy provides area-based coverage.