Multiple peril crop insurance (MPCI) is available to wholesale nursery growers to assist in the management of nursery plant production risks against losses from specific perils. The Risk Management Agency offers insurance coverage for wholesale nursery growers under two nursery crop insurance programs: one is a regulatory program available in nearly every county nationwide; the other, Nursery Value Select, is a pilot program available in 78 counties in nine states. Refer to the actuarial documents to see if the programs are available in your county.
Under both nursery programs, a wholesale nursery is defined as receiving 40 percent of its gross income from the wholesale marketing of plants. The nursery programs cover field grown and containerized nursery plants. Structures, equipment, supplies, etc. are not covered. Additional levels of coverage and catastrophic risk protection (CAT) are available under the programs. Basic units are the only unit structure available under both programs. Wholesale nursery growers may further divide their basic units by share into basic units by non-contiguous land (for field grown only) or by plant type/plant category.
The nursery programs function as an asset-based form of insurance coverage. In contrast to many crop insurance programs (e.g., wheat, corn, soybeans, cotton, etc), coverage is not based on a yield guarantee that is established using an historical average crop yield per acre. Likewise, the nursery program is not a form of revenue insurance coverage (e.g., Area Risk Protection Insurance and Revenue Protection). No minimum income guarantee is established.