Earlier this month the USDA’s Risk Management Agency announced a new insurance policy available for 2015. With the Whole-Farm Revenue Insurance policy, producers have the opportunity to insure between 50 to 85 percent of their revenue.
The new policy includes a variety of coverage including expanding operations, replanting, market readiness costs and more. In addition to insurance coverage, the Whole-Farm Revenue Insurance policy will provide premium subsidies to farms with two or more commodities.
“Whole-Farm Revenue Protection allows these growers to insure a variety of crops at once,” the USDA press release explained, “instead of one commodity at a time. That gives them the option of embracing more crop diversity and helps support the production of a wider variety of foods.”