Producers in 11 eastern Washington counties have until Jan. 31 to take advantage of a new insurance product that allows them to protect the gross revenue of their farms.
The Adjusted Gross Revenue insurance plan is being pilot tested in several states. It uses the average revenue reported on farmers’ federal income tax return to provide a level of guaranteed revenue. Producers can learn how to use the program by attending one of four free workshops sponsored by the state Department of Agriculture and several other organizations.
The three-year program was offered for the first time last year by the U.S. Department of Agriculture’s Risk Management Agency. Washington producers purchased more than $100 million in coverage, more than half of the coverage purchased in the U.S.
Adjusted Gross Revenue provides protection during the insurance year against loss of revenue due to any unavoidable natural disaster and market fluctuation. Essentially, all commodities produced during the insurance year (including incidental amounts of livestock) are covered under one insurance product. Producers in Adams, Benton, Chelan, Douglas, Franklin, Grant, Kittitas, Klickitat, Okanogan, Walla Walla, and Yakima counties are eligible to participate in the program.
The workshops are co-sponsored by the state Department of Agriculture, the Spokane office of the USDA Risk Management Agency, Washington State University Cooperative Extension, the Washington State Horticultural Association and Crop Insurance Companies.
Topics Agribusiness Washington
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