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Crop Insurance Products
Millard Management has a variety of crop insurance plan options and coverages to help protect you and your farming operation against unforeseen loss. Our agents are trained to guide you through all your options so that you can make the best choice for your farm.
Yield Protection (YP) is a multiple peril crop insurance product that provides protection against a loss in yield due to nearly all natural disasters. For most crops, that includes drought, excess moisture, cold and frost, wind, flood, and unavoidable damage from insects and disease. This product guarantees a yield based on an individual producer's actual production history. If the production to count is less than the yield guarantee, the insured is paid a loss.
Revenue Protection (RP) and Revenue Protection with Harvest Price Exclusion (RPHPE) are multi-peril crop insurance products that are based on the Commodity Exchange Price Provisions (CEPP) prices and protects against production loss, price decline or increase, or a combination of both. To determine the loss guarantee, RP will use the
greater of the Projected or Harvest Price. RPHPE insures in the same way as RP, but uses only the Projected Price to determine the loss guarantee.
Group Risk Income Protection
GRIP is designed as a risk management tool to insure against widespread loss of revenue from the insured crop by county rather than by individuals. GRIP was introduced in 1999 and is similar to the GRP program, but adds a revenue component to the plan. While GRP is a county yield plan, GRIP works with both the county yield, and the price of the commodity based on the Chicago Board of Trade (CBOT).
Group Risk Plan
Group Risk Plan (GRP) is an alternative program to the Yield Protection plan of insurance. It provides protection on a county basis rather than an individual basis.
Crop Hail Coverage
Crop hail coverage protects against damage due to hail, fire, and lightning. It also protects from damage occurring during transit.
Pasture Rangeland Forage
PRF crop coverage is available for farmers and ranchers who rely on pasture, rangeland, or forage acreage for haying or grazing to feed their livestock.
725 N. 2nd Street - Suite H
Lawrence, Kansas 66044
888.742.2767 (toll free)
Free No Obligation Crop Insurance Review
My team and I would love the opportunity to sit down with you and discuss your risk management plan. Crop insurance can cost thousands, let us take a look at your current plan to ensure you have the best coverage for you investment.
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