Graff Brochures


 

Federal Crop Insurance

CAT (Catastrophic)

  • This plan of insurance is based on yield and covers you for a loss of production only, not a drop in price.
  • It provides a very minimal level of coverage.
  • The coverage level is set at 50 percent of the approved yield at 55 percent of the MPCI additional price. 
  • The Basic unit is the only type of unit structure available on this policy.

MPCI (Multiple Peril Crop Insurance)
  • This plan of insurance is based on yield and covers you for loss of production only, not a drop in price.
  • You can select coverage levels from 50-75 percent (in 5 percent increments) of  the approved yield at up to 100 percent of the MPCI additional price. 
  • For select counties and crops, 80 and 85 percent coverage levels are available.  
  • Basic and Optional unit structures are available for this plan of insurance.

RA (Revenue Assurance)
  • For Illinois corn and soybeans only. 
  • The Revenue Assurance policy protects you in two ways: whenever low prices or low yields, or a combination of both cause your crop revenue to fall below the guarantee.
  • You can select coverage levels from 65-85 percent (in 5 percent increments) of the approved yield at 100 percent of the applicable price election. 
  • If the Fall Harvest Price Option is selected at Sales Closing, the guarantee will be calculated using the higher of the projected harvest price or the harvest price. 
  • The guarantee will be based on the projected harvest price if the fall harvest price option is not selected. 
  • The available unit structures are Basic, Optional, Enterprise and Whole Farm.

IP (Income Protection)
  • This plan of insurance provides the most basic revenue coverage available, but is limited to certain crops and counties in Illinois, Oregon and Washington. 
  • High risk land is excluded from this policy.
  • This policy provides for protection in two ways: whenever low prices or low yields, or a combination of both cause your crop revenue to fall below the guarantee. 
  • You can select coverage levels from 50-75 percent (in 5 percent increments) of the approved yield at 100 percent of the projected harvest price. 
  • For select counties and crops in Oregon and Washington, extended coverage levels of 80 and 85 percent are available. 
  • This plan of insurance would be less likely to have a revenue loss if prices increase at harvest due to wide spread yield reductions because guarantees are not based on the harvest price. 
  • The Enterprise unit is the only unit structure available on this policy.

CRC (Crop Revenue Coverage)
  • This plan of insurance was first introduced in 1998 as a full coverage revenue product.
  • You can select coverage levels from 50 to 85 percent (in 5 percent increments) of the approved yield at 100 percent of the higher of the Base Price or the Harvest Price.
  • Your guarantee can increase at harvest should prices increase, thereby still protecting you should you have a reduced yield but increased prices.
  • Coverage provided by the CRC plan can be replicated under the RA policy by selecting the Fall Harvest Price Option (available for Illinois corn and soybeans only).
  • CRC Availability varies by state, county and crop. 
  • The available unit structures are Basic, Optional and Enterprise units

Group Risk Income Plan (GRIP)
  • This plan of insurance was designed to insure against widespread loss of revenue of the insured crop in a county.
  • It is intended to be used by those who wish to insure the combination of yield and price.
  • You can select coverage levels from 70-90 percent (in 5 percent increments) of the expected county revenue at up to 100 percent of the maximum protection per acre.
  • You only receive a loss payment when the county revenue falls below your selected trigger revenue. 
  • This policy was developed on the basis that when an entire county's crop revenue is low, most farmers in that county will also have low revenue.
  • Note: It is possible to have reduced revenue from your farm and still not receive a loss payment.

Group Risk Plan (GRP)
  • This plan of insurance was designed to insure against widespread loss of production of the insured crop in a county.
  • GRP provides a dollar amount of protection for which a loss payment occurs when the county yield falls below the selected trigger yield.
  • Insurance is based on the expected county yield, rather than an insured's individual yields.
  • You can select coverage levels from 70-90 percent (in 5 percent increments) of the expected county yield at up to 100 percent of the maximum protection per acre. 
  • You only receive a loss payment when the average county yield is LESS than your trigger yield.

Note: It is possible to have a yield loss on your farm and still not receive a loss payment.