Posted January 16, 2015
John Deere
Insurance Company has released a new private crop-insurance policy, Added
Value Protection, to protect against yield shortage, according to an Agri
View article available here.
John Deere also published a statement here
and Farm Futures here.
The program works with a producer's Multi-Peril Crop
Insurance policy, and it allows a producer to purchase additional coverage
protecting a portion of their annual yield, according to Farm
Futures.
John Deere
also announced an optional endorsement to this new policy, BASF Risk Protection Optional Endorsement,
in collaboration with BASF.
To receive
these benefits, applicants must complete the requirements of either the BASF
Risk Advantage or BASF Investment Advantage programs, including purchasing
three BASF qualifying products for a minimum of 500 acres per insured crop from
a BASF representative before the applicable Multi-Peril Crop Insurance sales
closing date, and applying to insured crops, according to Agri
View.
The Added
Value Protection Policy now in 31 states: Alabama, Arkansas, Colorado,
Delaware, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana,
Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Jersey,
North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, South
Carolina, South Dakota, Virginia, West Virginia, Wisconsin, and Wyoming,
according to Farm
Futures.
If
approved, the coverage will also be available in Maryland, Tennessee, Texas,
and Washington.
For more
information, visit John Deere’s website here.
For more information on crop insurance programs, please
visit the National Agricultural Law Center’s website here.
