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Multiple Peril Crop Insurance (MPCI) provides comprehensive protection against weather-related
causes of loss and certain other unavoidable perils. Coverage is available on over 76
crops in primary production areas throughout the U.S. at 50 to 85 percent of the actual
production history (APH) for the farm. An indemnity price election from 60 to 100 percent
of the Federal Crop Insurance Corporation expected market price is selected at the time
of purchase. Minimum Catastrophic Risk Protection (CAT) coverage is available for an
administrative fee of only $100 per crop per county. MPCI coverage provides protection
against low yields, poor quality, late planting, replanting costs and prevented planting.
| Yield Guarantee |
| The yield guarantee is the historical actual
production history (APH) yield times the level of coverage, times the insured
acreage, times the insured's share. The APH yield is determined from producer
production records for a minimum of 4, up to 10 consecutive crop years. For
producers who provide less than 4 years of actual yields, variable Transitional
"T" Yields are used to complete the 4-year database. However, the approved APH
yield for producers who elect not to supply records is limited to 65 percent of
the applicable "T" Yield for the first year the producer is insured.
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| Production To Count |
| Production to count is all harvested and appraised
production for the unit. Appraised production includes, but is not limited to,
production lost to uninsured causes, and mature unharvested production (may be
adjusted for quality deficiencies and excess moisture).
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| Units |
| A unit is defined as that acreage of the insured crop
in the county which is taken into consideration when determining the guarantee, premium,
and the amount of any indemnity (loss payment) for that acreage. The basic insurance
unit is all insurable acreage of the insured crop in the county on the date coverage
begins for the crop year in which the producer has a 100 percent share or which is
owned by one entity and operated by another specific entity on a share basis. Basic
units may be further divided into optional units. Optional units are determined by
section, section equivalents, FSA Farm Serial Number, noncontiguous land (for certain
perennial crops) and irrigated and non-irrigated practices. When the policy allows,
optional units may be established, provided the crop is planted in a manner that results
in a clear and discernible break in the planting pattern at the boundaries of each
optional unit, and the producer keeps separate identifiable records of planted acreage
and harvested production for each optional unit.
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| Contract Changes |
| MPCI is a continuous policy and will remain in effect for each
crop year following the acceptance of the original application. Producers may cancel
the policy, a crop, a county, or a specific crop in a specific county, after the first
effective crop year, by providing written notice to the insurance provider on or before
the cancellation date shown in the applicable crop provisions. Producers must request
policy changes from their insurance provider on or before the sales closing date for a
change of price election or coverage level. In addition, requests to increase the
maximum eligible prevented planting acreage above the limitations contained in the
crop policy must be made by the sales closing date for the applicable crop. Contract
changes involving a successor-in-interest application and corrections of a producer's
name, address, identification number, administrator, etc. may be made at any time.
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| Reporting of Acreage and Crop Damage |
| Each crop year the producer is required to submit an
acreage report by unit for each insured crop. The acreage report must be signed
and submitted by the producer on or before the acreage reporting date contained in
the Special Provisions for the county for the insured crop. In the event of crop
damage, producers should immediately notify their insurance provider of the damage.
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| Crop Availability |
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Crops covered by MPCI are as follows: almonds, apples, beans (canning and processing)
canola, citrus, citrus trees, corn, grain sorghum, soybeans, upland cotton, extra long
staple cotton, cranberries, dry beans, figs, Florida Fruit trees, millet, nursery,
peaches, peanuts, pears, peas, peppers, plums, popcorn, potatoes, prunes, raisins,
rice, safflower, wheat, barley, oats, rye, flax, stone fruit, sugar beets, sugarcane,
sunflower seeds, sweet corn (canning and freezing, and fresh market), tobacco,
tomatoes (canning and processing), tomatoes (fresh market), and walnuts.
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| MPCI Benefits |
| MPCI benefits include cash-flow protection, good
loan collateral, added confidence when developing crop marketing plans, stability for
long-term business plans and family security. The Government shares in the premium
costs.
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Please contact us to discuss your individual needs.
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