Land > Crop Insurance

Crop insurance provides the peace of mind that your farm business will remain standing, even when your crop is not.  Selecting the correct coverage for your needs is the first step in a successful risk-management plan. Peoples Company offers various levels of Crop Hail Products and all components of the Common Crop Insurance Program.

Common Crop Insurance (CCI)

Yield Protection- The Yield Protection plan offers a producer protection against yield loss related to unavoidable perils. Coverage is based on the producer's Actual Production History (APH) and an Established or Projected Market Price that is set by the Federal Crop Insurance Corporation. Coverage Levels, depending on area, are available from 50% up to 85% of the producer’s APH. The producer's Production Guarantee is their APH multiplied by the selected Coverage Level multiplied by the planted acres. A producer is indemnified when their harvested and/or appraised production is less than the Production Guarantee as long as the shortage is due to an insurable cause of loss.

Revenue Protection- The Revenue Protection option offers a producer protection against a loss of yield related to unavoidable perils, as well as protection against commodity price fluctuations. Coverage is based on the producer's Actual Production History (APH) and a base price established from an applicable futures market. Coverage Levels, depending on area, are available from 50% up to 85% of the producers APH. The producer's Base Revenue Guarantee is their APH multiplied by the selected Coverage Level, applicable Base Price, and the planted acres. A producer is indemnified when their Calculated Revenue is less than their Final Revenue Guarantee, as long as the shortage is due to an insurable cause of loss. The amount of indemnity is determined by subtracting the Calculated Revenue from the Final Revenue Guarantee, the producer is paid the difference.

Revenue Price with Harvest Price Exclusion- The Revenue Protection with Harvest Price Exclusion option offers a producer protection against loss of yield related to unavoidable perils, which decreases the producers total Dollar Guarantee of harvest. Coverage is based on the producer's Actual Production History (APH) and an early futures price established from an applicable futures market. Coverage Levels, depending on crop and area, are available from 65% up to 85% of the producers APH. The producer's Dollar Guarantee is their APH multiplied by the selected Coverage Level, applicable early futures price, and the total planted acres in the county. A producer is indemnified when their Value of Production is less than their Dollar Guarantee, as long as the shortage is due to an insurable cause of loss. Insurance is provided for the Dollar Guarantee of the crop in the county regardless of ownership share or location. The amount of indemnity is determined by subtracting the Value of Production from the Dollar Guarantee, the producer is paid the difference.

Crop Hail
Crop hail insurance protects against reductions in yields due to hail and/or fire.  In contrast to a federally reinsured crop insurance policy, the producer is allowed to purchase crop hail insurance coverage up to the actual total value of their crop.  Companion Hailis an endorsement to a multi-peril or revenue-based crop insurance policy that provides additional coverage for a loss caused by hail or fire.

To discuss your crop insurance needs, contact a Peoples Company crop insurance agent by calling 1-855-800-5263.