Klamath County agriculture is very diverse, and very important to the local economy. Hundreds of millions of dollars are associated with agriculture and commodities produced here. There are expansive ranches with hundreds of head of cattle and pasture with hundreds of acres to graze. More acres are being developed and farmed in Alfalfa for hay. The grain growers produce barley, wheat and oats. The Klamath Basin is known for it’s famous potatoes, and now the multiple varieties grown here. There is mint, onions and more all grown in this Basin. Today there are Multi Peril Crop Insurance Policies for many of these crops, but not really one for all. That is where Whole Farm Revenue Protection in Klamath County can come in.
Each Whole Farm Revenue Protection Plan is customized to each operation. Whole Farm Revenue Protection provides protection against the loss of insured revenue due to an unavoidable natural cause of which occurs during the insurance period. It protects your operation against the loss of revenue you earn or expect to earn from commodities you produce during the insurance period. Your approved revenue amount is determined on you Farm Operation Report and is the lower of the expected revenue or your whole farm historic revenue which is basically taken from the five year average of your Schedule F.
With how different each farm and ranch is in Klamath County, WFRP is fit to the unique needs of each one. The plan is based of your history and your intended reports, so it doesn’t matter how big or small. Some operations are very diversified and have many commodities, while others focus on one or two. Whole Farm Revenue Protection can help either, it is there to soften the loss if markets take a dip or if there was an issue with your production. It helps the cattle rancher if the market prices drop. It helps the alfalfa grower if his quality is off enough that there is an overall loss in revenue for the year. Each individual has different needs and concerns, and for some a quality issue may ruin their entire year. These are the concerns that Klamath Farmers and Ranchers have, and how a Whole Farm Revenue Protection Plan can help.
For more information and to see how WFRP can help you contact:
Monte Johnson Insurance Services Inc.
Whole Farm Revenue Protection Fact Sheet – https://www.rma.usda.gov/pubs/rme/wfrpfactsheet.pdf