Crop Insurance Services
Choose The Salem Company, LLC for your crop insurance needs and you'll benefit from a wide range of services and products. You'll also have access to a knowledgeable agent who will help you make decisions right for your coverage requirements and budget.
Take a moment to learn more about the services we offer by clicking a link below to get a better idea of how we may be able to offer the peace of mind you deserve.
Multi-Peril Crop Insurance (MPCI)
MPCI is the oldest and most common form of federal crop insurance. It provides crop insurance protection on yield and/or yield and price. You'll be able to insure a specific percentage of your historical crop production. Coverage levels range from 50-85 percent. Premiums are subsidized and coverage includes a variety of loss causes. Sale deadlines are March 15 for spring planted crops, September 30 for fall planted crops, and November 20 for fruit crops.
Pasture Rangeland and Forage (PRF)
Especially useful for clients with equine operations, PRF is a type of policy that covers rainfall based on hay and/or pasture acres. PRF also includes protection for losses of forage produced for hay or utilized for grazing. Rainfall is measured with a 12-mile square grid. Measurements can be based on time frames tailored to your needs throughout the crop year. Premiums are subsidized and coverage is not based on production. Sales deadline is November 15.
Production Cost Insurance (PCI)
This private insurance product insures your fixed and variable costs. Coverage relates to the production of planting your crop. PCI requires accrual basis financial statements prepared by a CPA. As a private insurance product this coverage is not subsidized. Sales deadline is March 15.
Whole Farm Revenue Protection (WFRP)
With WFRP, your entire farm will be covered according to Schedule F from your federal income tax return for the past five years. Levels range from 50 to 85 percent coverage, depending upon your number of insurable crops. Sales deadline is March 15.
Avoid the expense of dealing with unexpected hail damage by considering this addition to your coverage. Premiums are based on the dollar level of insurance coverage and can possibly cover a variety of other issues depending upon the underwriter. Deductibles may apply to certain crops.
Utilize grain marketing strategies with your mill or broker by taking advantage of our agent's experience with this market and one of our underwriters incorporation of grain marketing and cost production into their crop insurance selection process. If this is important to you, our agent will direct you towards these services.
New private insurance product that allows farmer to select a price discovery period on revenue based MPCI policy to try to maximize the price that applies to guaranteed bushels.
Coming in 2018. Dairy revenue protection that allows farmer to determine milk price based upon a mix of Class III and Class IV milk futures prices, select the amount of milk production to cover from 70-95%, the percent of revenue to guarantee from 60-90%, and the select the quarterly contracts to purchase.
your coverage requirements and budgetContact Us Today
You'll be able to decide how much coverage and protection and you need. You'll never be pressured to make a decision. The role of our agent is to be a trusted partner and a reliable source of information. Contact us today to schedule a meeting to explore our crop insurance services, plans, and products.
- Communicate with Agent and Adjusters. If you need something or you have a question, call, text, or email.
- Report information timely to Agent and Adjusters. Deadlines are important.
- Cooperate with Adjusters and be prepared for them when they get there so they can follow procedures and pay you for your loss timely.