MPCI
MPCI policies provide coverage for loss of production or a combination of yield and price coverage.
Multiple Peril Crop Insurance (MPCI) is the general name given to crop coverage provided through the Federal Crop Insurance Corporation (FCIC). As the name suggests, multi-peril crop insurance policies provide coverage to the agricultural producer for a number of naturally occurring perils.
MPCI insurance policies provide coverage for loss of production or a combination of yield and price coverage. These combination products cover loss in value due to a change in market price during the crop insurance period, in addition to the perils covered by the standard loss of yield coverage.
Individual Plans
Individual crop insurance plans are based upon the insured’s production and for some coverage, there is protection against a loss of revenue caused by price increase or decrease.
Area Plans
Area Plans insure against an area-wide usually county-wide loss of production on a crop. It is based on the concept that when an entire county’s crop yield is low, most producers in that county will also have low yields.
Pasture, Rangeland, Forage (PRF)
Pasture, Rangeland, Forage (PRF) insurance is designed to provide coverage on your pasture, rangeland, or forage acres grown for the intended use of grazing by livestock or haying.
Margin Protection Plan (MPP)
Margin Protection Crop Insurance Plan provides coverage against an unexpected decrease in operating margin (revenue less input costs). MPP insurance is an area-based crop insurance program.
MPCI Endorsements and Options
Several Multiple Peril Crop Insurance (MPCI) endorsements and options are available specifically for different crop and diverse areas of the United States.
Rainfall Index Policies
Rainfall Index plans are considered to be group policies, meaning individual losses are not covered. The index associated with your crop and grid determines your indemnity.
Whole-Farm Revenue Protection (WFRP)
Whole-Farm Revenue Protection (WFRP) provides a risk management safety net for all commodities on the farm under one insurance policy.
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