Federal Crop Insurance
Insurance coverage designed to protect a farmer's financial investment in his or her crops. Covers losses to a crop's profitability.
Federal Crop Insurance - Commodity Coverage
100+ crops, including commodity program crops, specialty crops, pasture, rangeland, forage crops, and livestock margins.
Federal Crop Insurance - Program Description
Indemnities triggered when actual yield or revenue falls short of the guarantee set at 50% - 85% of expected level (as selected by producer) and established at prices prior to planting. Loss is at field or county level, depending on policy.
Federal Crop Insurance - Producer Cost/Federal Outlays
Premium depends on deductible selected by producer and other factors. Producer pays a portion of premium (38% on avg.) and no delivery cost. Projected federal cost is $8.8 bil./yr. for premium subsidy, program losses, and administration costs.
Noninsured Crop Disaster Assistance Program (NAP) - Commodity Coverage
Available for crops not currently eligible for crop insurance.
Noninsured Crop Disaster Assistance Program (NAP) - Program Description
Payments for losses in excess of 50%; additional coverage is available for purchase.
Noninsured Crop Disaster Assistance Program (NAP) - Producer Cost/Federal Outlays
Participation fee of $250 per crop plus a charge for more coverage. Federal cost of $165 mil in FY2014.
Price Loss Coverage (PLC) - Commodity Coverage
Wheat, corn, grain sorghum, oats, barley, long grain rice, medium grain rice, pulse crops (dry peas, lentils, small chickpeas, and large chickpeas), soybeans, sunflower seed, rapeseed, canola, safflower, flaxseed, mustard seed, crambe, sesame seed, and pe
Price Loss Coverage (PLC) - Program Description
Payments made if actual price is below statutory reference price