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Whole-Farm Revenue Protection

Submitted by holly-northwest on

Agency

Risk Management Agency (RMA)

Description

Whole-Farm Revenue Protection (WFRP) provides a risk management safety net for all commodities on the farm under one insurance policy and is available in all counties nationwide. This insurance plan is tailored for any farm with up to $8.5 million in insured revenue, including farms with specialty or organic commodities (both crops and livestock), or those marketing to local, regional, farm-identity preserved, specialty, or direct markets. 

Eligibility

Be eligible to receive Federal benefits; Be a U.S. citizen or resident; File either a Schedule F tax form or other farm tax form that can be converted to a Substitute Schedule F for a specified number of years; Have no more than $8.5 million in insured revenue, which is the farm revenue allowed to be insured under the policy multiplied by the coverage level you select. Have no more than $1 million expected revenue from animals and animal products; Have no more than $1 million from greenhouse and nursery; Have no more than 50% of total revenue from commodities purchased for resale; Have ‘buy-up’ coverage levels on any Federal crop insurance plans you choose in addition to the WFRP insurance plan. Meet the diversification requirements of the policy by having two or more commodities if a commodity you are raising has revenue protection or actual revenue history insurance available; and Meet the diversification requirements of the policy by having two or more commodities if there are potatoes on the farm.

Climate Change Component

With climate change more extreme weather is expected. Crop insurance can help provide financial stability so that farmers and ranchers are better able to make the long-term investments needed to adapt to a changing climate.

Geography

Disaster Assistance

Yes

Theme

Whole-Farm Revenue Protection

Tribal Table Category

Tribal Table Eligibility

Tribal Table Keywords