Protecting your livelihood in the fields with Crop and Livestock Insurance
Throughout the country, the increasing frequency and severity of extreme weather events has taken a toll on farms and farmers. The right crop and livestock insurance coverage helps protect you from severe financial losses when nature isn’t playing nice.
Some of this insurance is subsidized and regulated by the U.S. Department of Agriculture’s Federal Crop Insurance Corporation and offered through private insurers. Your local Highstreet specialist can help you understand the complexities of crop and livestock insurance, as well as additional options, so you can be sure your farm is fully covered the way that you want it to be.
Multi-Peril Crop Insurance (MPCI)
Most farmers who buy crop insurance choose to be covered by MPCI. This coverage is federally subsidized and regulated and is provided by private insurance companies through your local Highstreet agent.
Protecting your crops before harvest.
MPCI covers crop losses caused by natural events, such as:
- Destructive weather
- Disease
- Droughts
- Fire
- Floods
- Insect pests
MPCI is available for more than 120 different crops, though not all crops are covered in every part of the country. MPCI policies must be purchased each growing season by deadlines established by the federal government — and before a crop is planted.
You don’t have to suffer a total crop loss to be compensated by MPCI. It also covers years of significantly lower yields. Both the cost of insurance and the amount an insurer will pay for losses are tied to the value of the specific crop. If damage occurs early enough in the growing season, the policy may also include incentives to replant and start over.
Revenue Protection (RP) and RP with Harvest Price Exclusion (RP-HPE)
Revenue Protection (RP) insurance protects your farming business by guaranteeing revenue from your crops when your yield, or the harvest price, drops below a projected number. It can help you get by in years when natural causes like drought, damp, hail, wind, frost, insects, and disease — or drastic downward market swings — would affect your bottom line.
Protecting your investment, your way.
You can choose how much of your yield you want to insure for revenue. Coverage for a yield shortfall can also be recalculated in your favor if harvest prices increase beyond expectations.
RP-HPE has a lower premium than RP since it does not have Harvest Price Option (HPO). This means that it only covers a loss from low yields or a price decrease from the February futures prices and does not cover any difference if there is a sudden late increase in harvest price.
Your local Highstreet crop insurance specialist can help you figure out what type of revenue protection is right for your farming or ranch business..
Yield Protection (YP)
Yield Protection helps sustain your farming business in bad harvest years, covering unavoidable production and profit losses caused by weather events
Protecting you from bad years.
Yield Protection covers you for production losses caused by drought, excessive moisture, hail, wind, frost/freeze, high temperatures, tornadoes, lightning, flood, insect infestation, plant disease, excessive temperature during pollination, wildlife damage, fires and more.
Your local Highstreet crop insurance specialist is here to help you understand if YP is right for your operation, and what type you may need.
Livestock Risk Protection (LRP)
If you raise cattle or hogs commercially, and the value per head goes down unexpectedly, Livestock Risk Protection (LRP) can protect your investment — and your farm or ranch — from considerable financial losses.
Protecting you from market volatility.
Like MPCI, LRP is federally subsidized. As a price risk protection, it covers losses if there is a catastrophic price drop in your regional market. You can choose from different coverage levels and insurance periods for your fed cattle, feeder cattle and hogs.
Your local Highstreet livestock insurance specialist can explain the pros and cons of this type of coverage, so you can decide what’s right for you and your livestock business.
Pasture, Rangeland, Forage (PRF)
A Pasture, Rangeland, Forage (PRF) policy provides coverage for your pasture, rangeland, or forage acres for grazing or haying.
Protecting you from unexpected feed costs or culls.
PRF is a government-subsidized program that insures you for financial losses from increased costs for feed, destocking, depopulating or other consequences of drought, using a rainfall index to determine when a payout will be required.
Your local Highstreet livestock insurance specialist can give you a better understanding of PRF, what it costs, and if it might be a good option for you.
Our Crop and Livestock
Insurance experts have real
homegrown knowledge.
Insurance experts have real
homegrown knowledge.
Highstreet’s specialists have more than 450 years of combined experience helping farmers through good years — and challenging ones. Count on our expertise to help you navigate the complexities of government programs and find the right kind of coverage to protect you from unpredictable weather, volatile markets and other risks.
“I was surprised how wide of a variety of insurance this office provides. It's a perfect fit for farmers, ranchers, and even city-dwellers in the area. Also, the office staff is very friendly and go the extra mile.”
Kayla,
Eustis, Nebraska
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