Multi-Peril Crop Insurance is purchased by agricultural producers, including farmers, ranchers, and others, to protect against either the loss of their crops due to natural disasters or the loss of revenue due to declines in the prices of agricultural commodities.
What is Multi-Peril Crop Insurance?
Multi-Peril Crop Insurance covers a loss of crop yields due to drought, freeze, disease, and other natural causes. Farmers who wish to buy a policy must do so before they plant their crops.
When Should a Multi-Peril Crop Insurance Policy Be Considered?
Growing crops do not qualify as “covered property” under a commercial property or farm policy. Consequently, farmers who wish to insure growing plants must purchase crop insurance.
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