Micro Farm Insurance
Small farmers throughout the southeast who sell their products locally are eligible for a new micro-farm insurance coverage program.
The micro-farm insurance policy is being overseen by the Risk Management Agency.
RMA’s administrator Marcia Bunger was asked who is considered eligible under the new program.
Bunger: “If a producer has an average allowable revenue of $100,000 or less or there’s carryover, then that allowable average carryover is $125,000 or less, they become eligible for the micro-farm.”
RMA’s own research has found that 85% of producers who sell their products locally have less than $75,000 in gross sales. The agency said the new policy minimizes underwriting and recordkeeping requirements, and producers will not have to report expenses and individual commodities.
Bunger says the policy is in response to repeated requests from small farm operators for simplified recordkeeping requirements. Many micro farmers had reported being unable to take advantage of federal insurance programs because they did not have the staff available to keep track of the complicated requirements.
Micro Farm protects against the loss of farm revenue from all commodities except timber, forest, and forest products.
The microinsurance covers post-production costs and is available for 2022 crops.
Producers are encouraged to contact local crop insurance agents or contact the local RMA office found on the USDA’s website.