A new crop insurance product recently unveiled by the U.S. Department of Agriculture (USDA) will allow farmers to insure all of their crops, and even livestock, in a single policy rather than through individual commodity policies.

This new approach will allow crop growers, organic farmers, and growers with a diversity of commodities to purchase crop insurance as part of a whole farm revenue protection policy, according to Brandon Willis of the Risk Management Agency, which administers the crop insurance program for the USDA.

Whole farm revenue protection, which was passed as part of the 2014 Farm Bill, is well suited for fruit and vegetable growers and producers with diversified farms who sell commodities to wholesale, local, regional, direct, and farm-identity preserved markets, Willis pointed out.

This new policy provides the growers of specialty and organic crops and those with a diversity of crops with the option of insuring those crops in one policy package, Willis indicated. He added that this will provide the insured diversified farms with a higher discount on their premiums.

Farmers who are interested in such coverage should check with their private sector crop insurance agent for the details about the whole farm revenue protection policy.

Source - http://www.wisfarmer.com/