Forward Contract Insurance Protection (FCIP)
Protect your crop from the beginning! With our exclusive supplemental plan, Forward Contract Insurance Protection, you’ll be able to take advantage of the market conditions as they happen. FCIP will ensure you the opportunity to market for success.
FCIP provides an indemnity to you in the event you’re not able to deliver contracted bushels insured under an MPCI crop insurance policy. It fills a void, offering protection for you if you have signed forward contracts, but are then exposed to penalties for non-delivery on those contracts.
FCIP allows you the opportunity to price your commodity when you can turn a profit. You will be able to lock into daily prices versus waiting for an average monthly price. You will feel confident in knowing you have the needed protection in case you’re not able to deliver your commodity due to an insured cause of loss! Proactively ensure your opportunity by making a decision immediately on pricing versus insuring against the possibility of a loss.
FCIP coverage can only be purchased for corn or soybeans covered by a Yield Protection (YP) or Revenue Protection (RP) policy. Crops must be grown for grain. The available FCIP coverage levels are 50%, 55%, 60%, 65%, and 70%. Refer to the policy provisions for other restrictions.
Eligible states include:
- South Dakota