Multi-Peril Crop Insurance (MPCI) is the general name given to crop coverage provided through the Federal Crop Insurance Corporation (FCIC). As the name suggests, multi-peril crop insurance policies provide coverage to the agricultural producer for a number of naturally occurring perils.
MPCI insurance policies provide coverage for loss of production or a combination of yield and price coverage. These combination products cover loss in value due to a change in market price during the crop insurance period, in addition to the perils covered by the standard loss of yield coverage.
Provides protection against physical damage from hail and/or fire. Other coverages provided include fire department service charges, transit coverage to the first place of storage, catastrophe loss award (most coverages) and replanting coverage (most crops). Options exist in some areas for other perils, such as wind and theft.
Crop-Hail can be used along with MPCI or other comprehensive coverages to offset the MPCI deductible and provide protection up to the actual cash value of the crop. Coverage is provided on an acre-by-acre basis, so damage that occurs on only part of a farm may be eligible for payment when the rest of the unit remains unaffected.
Important Dates for Corn and Soybeans
| Missouri | Kansas | Oklahoma | Arkansas | |
|---|---|---|---|---|
| Sales Closing Date | 3/15 | 3/15 | 3/15 | 2/28 |
| Production Reporting | 4/29 | 4/29 | 4/29 | 4/14 |
| Acreage Reporting | 7/15 | 7/15 | 7/15 | 7/15 |