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Whole farm insurance

Put it all under one policy
Photo courtesy of Alabama Extension System

Farming is one of the riskiest professions in the world. Weather, insects, price fluctuations, and other conditions out of our control make it hard to make a living. When you have many specialty crops, it gets expensive to insure each one.

Brian Venteicher is the director of operations for Midwest Insurance Corporation. He says whole-farm revenue protection is designed to provide crop insurance to diverse specialty operations all under one umbrella.

"They could be the small wheat farmer, they could be a specialty-type program, maybe they sell cheese, maybe they sell a small niche market-type program," he says. "And so this would be for the farmer that has more than three commodities, and then it’s all based off of their receipts on whether or not they had a loss."

Whole farm revenue protection allows farmers to insure the value of all of their crops, including integrated crop and livestock operations, rather than just crop-by-crop. It offers higher levels of coverage and a premium discount for farmers with greater crop diversification.

Even the costs of getting a product to market, such as washing and packaging, is covered.

It’s not an expensive product in the fact that there is a subsidy involved, and that does help offset the cost," says Venteicher. "If this was a private product just backed by private insurers, then it would be relatively more expensive. You know, sometimes the subsidies on this are up to 55%."

The plan is tailored for any farm with up to $8.5 million in insured revenue. Venteicher says to visit a crop insurance agent and ask for whole-farm, which is available in all 50 states.

Find more details about the USDA's whole farm protection program

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