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RMA Crop Insurance for Barley: Coverage, Benefits, and Examples

Learn about the various crop insurance products offered by the RMA, specifically for barley. Understand the coverage options, insurable units, and price elections. Explore an example scenario to better understand the indemnity calculation.

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RMA Crop Insurance for Barley: Coverage, Benefits, and Examples

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  1. RMA Crop Production and Revenue Insurance Products Lesson Overview • In this lesson, we will learn about: • Wyoming acres of annually-planted crops, and acres insured • Multiple Peril Crop Insurance • Catastrophic Risk Protection (CAT) • Crop Revenue Insurance (CRC) • Group Risk Plan (GRP) • Group Risk Income Protection (GRIP) • Forage Insurance • Seed and Specialty Crop Insurance • Alfalfa Seed Protection Insurance • Nursery Crop Insurance • Adjusted Gross Revenue-Lite (AGR-Lite)

  2. Crops Covered Under MPCI: Barley Corn (for grain) Corn (for silage) Dry beans Proso millet Oats Potatoes Sugarbeets Sunflowers Wheat Malting barley RMA Crop Production and Revenue Insurance Products

  3. RMA Crop Production and Revenue Insurance Products Barley Insured Counties for Barley, MPCI Coverage Barley Production An estimated 87% of Wyoming’s barley acres are in counties indicated

  4. RMA Crop Production and Revenue Insurance Products Barley- Insurance • Insurable Crop • Barely for grain may be insured • Insurable Units • Barley may be insured at the optional, basic, or enterprise level • Coverage Level • 50, 55, 60, 65, 70, 75, 80 or 85% of APH • Price Election • 55 to 100% maximum price election

  5. RMA Crop Production and Revenue Insurance Products MPCI Barley Example *The maximum price election changes from year to year based on USDA information **The producer’s premium is less than the gross premium because of the premium subsidy

  6. RMA Crop Production and Revenue Insurance Products Barley: Exercise • If the barley harvest is 50 bushels per acres, will John and Julie receive an indemnity? Yes or no?

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