Adjusted Gross Revenue / AGR-Lite
The AGR product provides protection against low revenue due to unavoidable
natural disasters and market fluctuation that occurs during the insurance year.
Covered farm revenue consists of income from agricultural commodities produced
on the farm. AGR uses a producer's historical IRS Schedule F Tax form
information and annual farm reports as a base to provide a level of guaranteed
revenue for the insurance period.
AGR Lite coverage is similar to AGR with the following exceptions, the producer
must:
- Have less than $512,821 in approved gross income; coverage is limited to
$250,000
- Have appropriate IRS tax forms available for the previous 5 consecutive years
under the same tax entity (required in the event of a claim)
- Have no more than 50% of total revenue from commodities purchased for resale
- Have no more than 83.35% of total revenue from potatoes, and
- Provide a commodity profile report for the previous 2 years for producers
selecting higher coverage levels at application time.
Note: Terrorism is not an exposure covered by Federal Crop Insurance Corporation
on any of the Federally reinsured crop insurance policies (RA, MPCI, CRC,
etc.). These policies cover losses due to drought, flood, or other
natural disasters.
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