Whole-Farm Revenue Protection (WFRP) provides a risk management safety net for all commodities on the farm under one insurance policy and is available in all counties nationwide. This insurance plan is tailored for any farm with up to $8.5 million in insured revenue, including farms with specialty or organic commodities (both crops and livestock), or those marketing to local, regional, farm-identity preserved, specialty, or direct markets.
RMA has provided additional flexibility to producers by making the following changes to the policy, including:
- Beginning Farmers and Ranchers – RMA makes it easier for more beginning farmers and ranchers to participate in the program by reducing the required records from five to three historical years, plus farming records from the past year. Additionally, any beginning farmer and rancher may qualify by using the former farm operator’s federal farm tax records if the beginning farmer or rancher assumes at least 90 percent of the farm operation.
- Livestock Producers – RMA removed the previous cap that limited participants to those who received 35 percent or less of their income from livestock production. Producers will now be able to insure up to $1 million worth of animals and animal products.
- Expanding Operations – RMA increased the cap on historical revenue for expanding operations to 35 percent from its previous 10 percent to better allow growing farms the opportunity to cover their growth in the insurance guarantee.
Contact your local ProAg agent today. Let them protect you with the superior service you have come to expect from ProAg.
Click on the brochure thumbnail above to download our PDF brochure or click here.
Other Helpful Information:
- How to Maximize Revenue Protection on Your Farm With Price Flex [Infographic]
- WFRP Pilot Fact Sheet PDF
- WFRP Pilot Lender’s Fact Sheet PDF
- RMA WFRP Pilot FAQs (Aug 30, 2016)
- Modifications to WFRP for 2017 PDF
Recordkeeping Aids for Direct Market Producers:
- Recordkeeping Aid for Direct Marketers with Price Information: PDF | Excel
- Basic Recordkeeping Aid for Direct Marketed Commodities: PDF | Excel
USDA RMA Bulletins:
*Coverage is summarized. Refer to the actual policy for applicable terms, conditions, limits and exclusions.