AGR-Lite Insurance Program Available for North Carolina Farmers

North Carolina farmers seeking whole-farm revenue protection insurance can now, through the AGR-Lite Insurance Program, guarantee a portion of their farm income and insure crops that previously were not covered under traditional crop insurance. The insurance can be purchased through the sales closing date of Jan. 31 for the 2006 growing season, according to the Southeast Farm Press.Farmers with a gross income of up to $2.05 million are eligible for coverage, with the maximum amount of coverage increased from $250,000 to $1 million in 2006.

A number of insurance providers are offering coverage, including Ace Property and Casualty Insurance Co. (Rain and Hail LLC), Rural Community Insurance Co. and Farm Bureau Mutual Insurance Co..

â??Many North Carolina farmers have experienced enough natural disasters in the past few years to appreciate the type of coverage this insurance provides,â?? North Carolina Agriculture Commissioner Steve Troxler told the publication. â??We are fortunate to have this insurance in North Carolina. I encourage farmers to talk with one of these insurance providers to learn more about this product, and see what is the right amount of coverage for their farming operations.â??

The plan is designed to protect against revenue losses due to unavoidable natural disasters and market fluctuations. Most farm-raised crops, animals and animal products are eligible for coverage, and the plan can be used with other federal crop insurance programs.

This is the second year farmers have been able to purchase whole-farm coverage through AGR-Lite. North Carolina was the first Southeastern state selected by the U.S. Department of Agricultureâ??s Risk Management Agency to participate in the program, and is one of only 17 states offering the program.

Topics Agribusiness North Carolina