MPCI covers crop losses and lower yields caused by naturally occuring events, such as: hail, frost, damaging wind, disease, drought, fire, flooding, and insects. MPCI is part of the Federal Crop Insurance Corporation (FCIC). Coverage is available through individual plans and through area plans.
Yield Protection (YP)
The Yield Protection plan offers protection against yield loss related to unavoidable loss from nearly all natural disasters. 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 producers APH. The producer is paid an indemnity if the production level falls below the yield guarantee.
Revenue Protection (RP)
The Revenue Protection option offers protection against a loss of yield related to unavoidable loss from nearly all natural disasters, 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. A producer is paid an indemnity 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 Protection with Harvest Price Exclusion (RP-HPE)
***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.
Area Yield Protection (AYP)
The AYP plan provides provides coverage to insure against widespread loss of production of the insured crop in a county, rather than an individual farm. It is useful for those producers whose farm yields are similar to the average county yield. If the final county yield is lower than the trigger yield selected by the producer, the AYP can pay an indemnity to the producer.
Area Revenue Protection (ARP)
The ARP plan provides coverage to insure against loss of yield and loss of revenue due to a county level production loss, price decline, or combination of both of the insured crop in a county, rather than an individual farm. If the final county revenue is lower than the trigger revenue selected by the producer, the ARP can pay an indemnity to the producer.
Area Revenue with Harvest Price Exclusion (ARP-HPE)
ARP-HPE is a county-based revenue insurance product that insures in the same way as ARP, but also offers upside Harvest Price Protection by valuing lost bushels at the harvest price in addition to the coverage offered under ARP-HPE.
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