Let’s face it, farmers, this is your business and your livelihood so it’s all about the money! The Home Agency’s top product for multi-peril crop insurance is called Revenue Protection (RP) As the name implies this is protection that insures producers against yield losses that affect their bottom line. It is based on the greater of the projected (base) price or the harvest price which is set in accordance with the Commodity Exchange Price Provisions. These prices are determined by the daily settlement prices for certain futures contracts. The producer chooses the amount of average yield he or she wishes to insure. In most areas the level will be between 50 to 85 percent.
The perils listed in the policy are nature caused such as drought, excessive moisture, hail, wind, frost, insects, and disease, and as stated above, revenue losses caused by a change in the harvest price from the projected price.
If you suspect you have a loss or that one of the perils above has occurred, please let us know as soon as you are aware of it. We want to turn in a notice of loss and address it soon so there will be no questions later. Also, by turning in your production as soon as possible you will speed the process of collecting a loss if it is due. There are deadlines and we do NOT want to jeopardize your rights. Be sure call and speak to your agent personally to turn in such losses!
There’s a crop insurance agent at our office just waiting for a call from you. Pick up the phone today and call home, The Home Agency that is, at 800-245-4241 or send us a message through the Contact Us Form.