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 hereand 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.
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