Multi-Peril Crop & Hail Insurance
4 Different Multi-Peril Crop Coverage Plans
The MPCI (APH)
The MPCI is a production based coverage protecting the producer against a yield (bushel) loss.
Revenue Protection establishes a dollar guarantee based on the Commodity Exchange Price Provisions Protected Price. There are various levels of protection against the increase or decrease of commodity price levels.
The Group Risk Income Protection plan (GRIP)
Group Risk Income Protection plans are where revenue guarantees and losses are determined on a county basis.
The Catastrophic Coverage (CAT)
Catastrophic Coverage is a minimal production based coverage protecting the producer against a yield (bushel) loss.
Crop Hail Insurance
Crop hail insurance protects the producer for the peril of hail. The coverage protection is based on a dollar amount per acre. Various deductibles (5%, 10%, 20%) are available. If a producer has a multi-peril insurance policy he can buy a companion hail policy. This plan is also based on a dollar amount per acre, but the loss is paid out 2, 3, or 4 times faster depending on the producer’s choice.
A Production Plan hail coverage endorsement is also available. This covers hail on a unit basis on the portion of the crop not insured on the multi-peril policy.