Why the Ethanol Policy?
John Deere Risk Protection (JDRP) is now offering the industry's first-ever Ethanol Policy by providing coverage to corn producers, who have delivery contracts for the purpose of ethanol production. This new policy, available once the multi-peril crop insurance policy is with JDRP, insures yield shortfalls below contracted volumes in the event the price to replace the corn rises above the federal crop insurance coverage.
Overview
Triggers when producer’s total harvested or appraised production is below their contracted volumes AND the price to replace the crop is above the contract price and both their spring and harvest MPCI price.
Works on top of your JDRP Crop Revenue Coverage (CRC) or Revenue Assurance (RA)** policy to provide additional protection for your contracted bushels.
Production to count will be calculated the same as the underlying FCIC revenue product.
Underlying MPCI must be CRC or RA with Fall Harvest Price Option.
Benefits
Provides confidence in contracting more acres of corn while locking in at a premium price
Simplifies the process of securing replacement grain in the event of a production shortfall
Assists in covering the costs associated with replacing the crop when those costs exceed your federal crop insurance coverage
*John Deere Risk Protection, Inc. (dba JDRP Crop Insurance Services in California) is the crop insurance Managing General Agent for The Insurance Company of the State of Pennsylvania, a subsidiary of AIG Commercial Insurance, Inc. and Westfield Insurance Company and Westfield National Insurance Company. Coverage may not be available in all jurisdictions and is subject to actual policy language. See your authorized John Deere crop insurance agent for details. John Deere Risk Protection, The Insurance Company of the State of Pennsylvania, Westfield Insurance Company, and Westfield National Insurance Company are equal opportunity providers.
