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 the State of California) is a subsidiary of John Deere and acts as the Managing General Agent for crop insurance for Westfield Insurance Company and Westfield National Insurance Company. Insurance policies are obligations of the issuing insurance company, are not obligations or deposits of or guaranteed by any bank, and are not insured by the Federal Deposit Insurance Corporation. Not offered in all states, nor are all products available in the states in which John Deere Risk Protection does business. Product descriptions and examples are for illustrative purposes only. See your authorized John Deere Risk Protection agent for details. John Deere Risk Protection, Westfield Insurance Company, and Westfield National Insurance Company are equal opportunity providers.
**See Renewable Fuels Policy for all details and requirements.
