Whole Farm Revenue Protection

Whole Farm Revenue Protection (WFRP) is available in all counties nationwide and covers up to $8.5 million in revenue across all commodities. Whether you sell to wholesale markets or cater to local, regional, specialty or direct markets, WFRP can be a great fit for your operation. This policy is designed to meet the needs of farm and ranch owners producing multiple commodities, selling specialty or organic products (both crop and livestock), or struggling to find individual policies to cover crops or livestock.

Key features of WFRP Include:

• Up to 80% subsidized premium
• Coverage for up to 85% of projected farm revenue
• Coverage for commodities purchased for resale
• Protection against losses from natural causes
• Protection against losses from unexpected drops in market prices during the production year
• Can work in with other MPCI programs to reduce premiums
• Carryover loss coverage if you are insured the following year
• Helps cover replant costs

Get a free consult with one of our certified agents and see if WFRP is a good fit for your operation.

Protection and Coverage Levels

WFRP protects your operation against the loss of revenue you earn or expect to earn from:

• Commodities, whether they sold or not, produced during the insurance period, including industrial hemp
• Up to 50% of the commodities you buy for resale
• All other commodities on your operation except timber, forest, and forest products: and animals for sport, show, or pets

WFRP also provides replant coverage within the following guidelines:

• Annual crops, except industrial hemp and any crops covered by another Federal crop insurance policy
• Equal to the cost of replanting up to 20 percent of the expected revenue multiplied by your coverage level
• If 20 percent or 20 acres of the crop needs to be replanted

Farms and ranches with greater diversity receive higher levels of coverage. An operation with 2 qualifying commodities can insure 50% – 75% percent of their revenue with 80% subsidy coverage provided by the government. However, an operation with 3 or more separate commodities qualify to have 50%-85% of their revenue insured. You can choose the amount of  coverage you want in 5 percent increments. WFRP can also be combined with other Federal crop insurance policies at a buy-up level.

Eligibility and Required Documentation

In order to be eligible for Whole Farm Revenue Protection you must meet the following Criteria:

• Be eligible to receive Federal Benefits
• Be a U.S. citizen or resident
• File a Schedule F tax form, or other farm tax form that can be converted to a Substitute Schedule F tax form
• Have no more than $8.5 million in insured revenue
• Have no more than 50% of total revenue from commodities purchased for resale
• Meet the diversification requirements of the policy
• Meet the diversification requirements of having two or more commodities if there are potatoes on the farm

Work with a certified agent to determine the number of qualifying commodities you have and customize the level of coverage that meets your operations needs.

What information do I need to provide my agent?

• 5 years of farm tax forms.  Some exceptions are made for beginning farmers and ranchers, qualifying persons not required to US tax return, and producers that were physically unable to farm one year.
• Whether you are a calendar year tax filer or a fiscal year tax filer. If you are a fiscal year tax filer we will also need to know what your fiscal year is.
• Information about what you will be producing during the insured year.
• Any other applicable information such as supporting records, organic certification, inventory or accounts receivable information

Reporting a Loss and Receiving Your Claim

You must submit a notice of loss within 72 hours of discovering that your revenue for the policy year could be below the revenue you insured. Inspections may be required for any losses reported.  You must have filed farm taxes for the policy year before any claim can be made.  Claims must be made no later than 60 days after the date your farm tax forms were submitted to the IRS. As long as you are in compliance with the policy, claims are paid within 30 days after the determination of a payment being due.