Corn

You can insure corn if:

• It is grown on insurable acreage;
• Premium rates are provided;
• You have a share; and
• It is planted for harvest either as grain or silage.

Corn types include:

• Yellow dent or white corn;
• Mixed yellow and white;
• Waxy or high-lysine corn;
• Blue corn, only available in select counties;
• High-amylase corn, only available in select counties; and
• Corn for silage, only available in select counties.

You are protected against the following:

• Adverse weather;
• Earthquake;
• Failure of irrigation water supply;
• Fire;
• Insect damage and/or plant disease, unless you have insufficiently or improperly applied pest or disease control measures;
• Volcanic eruption; or
• Wildlife.

Coverage begins on the later of:

• The date we accept your application; or
• The date you plant the corn.

Coverage ends at the earliest of:

• Total destruction of the crop;
• Harvest of the crop;
• Final adjustment of a loss;
• Abandonment of the crop; or
• December 10, 2018 for grain; and December 30, 2018 for silage.

Crop insurance premiums are subsidized as shown in the following table. For example, if you select the 75 percent coverage level for an Enterprise Unit, the premium subsidy is 77 percent and your premium share is 23 percent of the base premium.

Projected Price - Based on the Chicago Board of Trade December Futures Contract from February 1, 2018, to February 28, 2018.

Harvest Price - Based on the Chicago Board of Trade December Futures Contract from October 1, 2018, to October 31, 2018, or November 1, 2018 to November 30, 2018 in Michigan. Protects you when fall prices are above the projected price.

Yield Protection (YP) - Only protects against a production loss. The harvest price is not used.

Revenue Protection (RP) - Protects against loss of revenue due to a production loss, change in price, or a combination of both.

Revenue Protection with Harvest Price Exclusion (RPHPE) - Protects against loss of revenue due to a production loss, price decline, or a combination of both.

Area Risk Protection Insurance (ARPI) - Offers three insurance plans based on experience from an area, generally a county, rather than your actual yield. Replaces Group Risk Protection and Group Risk Income Protection. Coverage availability varies by county.

Catastrophic Coverage (CAT) - Pays 50 percent of your average yield and 55 percent of the projected price. CAT has no premium but does have a $300 administrative fee per crop per county.

Margin Protection (MP) - An area based plan that protects against an unexpected decrease in operating margin. Can be purchased by itself or in conjunction with YP or RP plans with the same Insurance Company. Sales Closing Date for MP is Sept. 30.

Replant Provisions - You may receive a replant payment if:

• It is practical to replant;
• The appraisal does not exceed 90 percent of your guarantee; and
• You replant at least 20 acres or 20 percent of the unit.

It will be considered practical to replant within or prior to the late planting period unless the insurance company determines otherwise. Replant payments are not available on CAT or ARPI policies.

Late Planting Period - If you choose to plant after the final planting date, the insurance guarantee is reduced by one percent for each day after the final planting date. After 20 days, the guarantee is 55 percent.

Prevented Planting - You may receive a prevented planting payment if you are unable to plant on or before the final planting date because of an insurable cause. Prevented Planting is not available for all plans of insurance. See a crop insurance agent for details.

This example assumes 75 percent coverage level on a Revenue Protection with Harvest Price Exclusion plan and an average yield of 150 bushels per acre with 100 percent share. The projected price is $3.86 and the harvest price is $3.49. The harvest resulted in 5,000 bushels of corn.