Laurie Wolinski, Extension Agent; lgw@udel.edu
Video: DDA Deputy Sec. Kenny Bounds on the Importance of Crop Insurance
Farmers plan through the winter and work the fields through spring and summer to hopefully produce the highest yield per acre at harvest time. Producers reducing their risk using crop insurance are familiar with how traditional policies insure a percentage of an approved yield based on a historical average. In today’s terminology this is called Yield Protection (YP). In recent years, for grain and soybean crops, a price protection component has been available through the Revenue Protection (RP) policy.
An emerging insurance product, Whole Farm Revenue Protection (WRFP), is now available throughout the U.S. In many cases, WFRP can provide more actual income protection at a reduced premium cost.
On August 22, 2017, 9:00-12:00, a workshop will be held at the Carvel Center, Georgetown, DE, which will include an introduction to WFRP. Every farm family should have someone in attendance to get an overview of how the Whole Farm coverage concept works. Details are still being arranged. Save the date and watch future Weekly Crop Updates for further details. In the meantime, contact Laurie Wolinski at 302-831-258 or LGW@udel.edu.