The U.S. Department of Agriculture’s (USDA) Risk Management Agency (RMA) today announced that a new Federal Crop Insurance product, the Enhanced Coverage Option (ECO), will be available for 31 spring-planted crops for the 2021 crop year and is expected to be available for additional crops starting in the 2022 crop year.
“We’re happy to introduce the Enhanced Coverage Option starting in crop year 2021,” said RMA Administrator Martin Barbre. “ECO provides additional coverage and more flexibility in making risk management decisions.”
ECO allows policyholders to purchase additional area-based coverage for a portion of the deductible for their underlying yield- or revenue-based crop insurance policy. ECO must be purchased as an endorsement to the Yield Protection, Revenue Protection, Revenue Protection with the Harvest Price Exclusion, Actual Production History or Yield-Based Dollar Amount of Insurance policy.
ECO provides coverage in bands from 86% to a choice of either 90 or 95% of expected yield or revenue. For more, please click here.
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