RMA Multi Peril Crop Insurance Policies
At Silver Creek, we specialize in making sure your Crop Insurance dollars are spent effectively and efficiently. Our expertise as licensed commodity brokers and insurance agents helps us better insure you in the most cost efficient manner. We scan the land each year to find where our risk management dollars can best be used to protect your operation from the unseen events ahead. Our understanding of insurance policies, marketing, and brokerage tools allows us to recommend the best crop insurance policy for your farm without throwing your money down a hole. Talk to an Agent today for your farms specific needs.
Margin Protection (MP)
- Protects from loss in a counties margin caused by low yields, low prices or rising inputs.
- The discovery price is the average of December Corn Futures during the August 15th-September 14th of the prior year which is also when inputs are calculated.
- This discovery price times the county yield minus the county input costs gives you your County Margin.
- Final Margin is based on the final county yield, harvest price, and final inputs which is figured by taking the average of December Futures during the month of October and Inputs during the month of April.
- Coverage levels up to 95%.
Revenue Protection (RP)
- Protects from revenue loss caused by low yields, low prices or both.
- The Base Price is the average of December Corn Futures during the month of February.
- This base price times your Actual Production History (APH) gives you your Minimum Guarantee.
- Final Revenue is based on the Harvest Price which is figured by taking the average of December Futures during the month of October.
- The higher of the Base Price and the Harvest Price is used to determine the indemnity. (not the case with the Harvest Price Exclusion)
Area Risk Protection (ARP)
- This is the replacement of GRIP and GRP for 2014.
- ARP is revenue or yield insurance insuring County revue or yields. NOT BASED ON YOUR PRODUCTION.
- Coverage levels are between 70%-90%.
- Functions very similar to RP in how guarantees are set and indemnities triggered. The biggest difference is that ARP uses County yield data to set guarantees and trigger indemnities.
Yield Protection (YP)
- Protects from revenue lost caused by low yields.
- Yield guarantees and coverage levels are similar to RP, but YP only pays on losses from yield and has NO price loss coverage.
- Coverage levels are 50%-85%
- We specialize in finding the cheapest and best Hail rates in the country.
- Why let your dollars go to waste on expensive hail policies that may or may not have your best interest in mind?
- Call an agent today if you would like to compare rates.