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 Knowledge for the CommonWealth

Whole-Farm Revenue Insurance Now Available Statewide

Farm Business Management Update, February/March 2006

By Elaine Lidholm, USDA Risk Management Agency, (804) 786-7686

For the first time, Virginia farmers may apply for whole-farm revenue protection insurance that covers most crops and livestock including specialty products such as fruit, vegetables, nuts, nursery products, flowers, Christmas trees, animals, and animal products (meat, milk, or eggs). A new insurance program called Adjusted Gross Revenue-Lite (AGR-Lite) will be available statewide in Virginia beginning in 2006. Producers who want to enroll in the new program must do so by March 15, 2006.

AGR-Lite makes a form of crop insurance protection available to almost all producers in the Commonwealth and fits farms with up to $2 million of annual gross income. It provides protection against low revenue due to unavoidable natural disasters and market fluctuations that affect income during the insurance year. Most farm-raised crops, animals, and animal products are eligible for protection, excluding forest products. It provides broader insured causes of loss than previous policies on a wider variety of crops, and more producers will be eligible for higher rates of coverage.

AGR-Lite can stand alone or be used in conjunction with other Federal crop insurance plans except Adjusted Gross Revenue (AGR). Producers who purchase both AGR-Lite and other Federal crop insurance will receive reduced premiums on their Lite coverage. To be eligible for AGR-Lite coverage, a producer must have five consecutive years of IRS Schedule F records (or the same information from other tax forms), have no more than 50 percent of total revenue from commodities purchased for resale, and have no more than 83.35 percent of total revenue from potatoes. Producers must have less than $2,051,282 in approved gross income and $1,000,000 maximum policy liability.

Crop insurance policies are available from private crop insurance agents. Eight companies and nearly 200 agents sell crop insurance in Virginia. Contact the local USDA Farm Service Agency (FSA) office for a list of agents or log on to the Risk Management Agency Web site at or go to and click on "agent locator."

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