Policy Types

Crop Hail Insurance Products

Full Coverage
A policy that gives the insured a payment that equals the percent of loss multiplied by the insured value per acre.

Deductible
Policies that do not issue payments until the loss exceeds a set percentage.

Companion
Policies that require the loss to exceed a set percentage. Once the loss exceeds the set percentage, then that percent is subtracted from the loss and multiplied by a factor of 2, 3 or 4, depending on the policy type.

Multi-Peril Crop Insurance Products

Actual Production History (YP)
A multi-peril crop insurance product that provides protection against a loss in yield due to nearly all natural disasters.

(RP)
A multi-peril crop insurance product that guarantees revenue by combining yield and price variability.

Group Risk Protection (GRP)
A county-based insurance product that pays the producer in the event the county yield falls below the trigger yield selected by the producer.

Group Risk Income Protection (GRiP)
A county-based revenue insurance product that pays the producer in the event the county average per-acre revenue falls below the trigger revenue level selected by the producer. GRIP is based on the same principle as Group Risk Protection (GRP), but guarantees revenue instead of yield.