Dairy Farm Revenue Protection Program
Dairy Revenue Protection Program
Protect Your Dairy Revenue
At GDI Insurance Agency, Inc, we understand that turning a profit has become a challenge for California dairy farms in recent years, as chronically low milk prices cut into the business’ bottom line. Many dairy farms’ income from milk has decreased significantly, while operational costs around the farm have stayed the same or risen. It’s getting harder and harder to make a living, that is why it is so important to have a California dairy revenue protection program.
California Dairy Revenue Protection Program
Dairy Revenue Protection is an area-based federal crop insurance product that provides quarterly revenue coverage for dairy farmers.
The program, which will be available starting in October 2018, allows farmers to set a guaranteed revenue they want to make on a certain amount of milk. Farmers can receive an indemnity payment if their actual revenue doesn’t meet the set level. Insurance costs are determined by expected milk prices and market risk.
Dairy farmers will now be able to protect their milk price on a quarterly basis, with an indemnity paid when the actual milk price falls below their insured milk revenue guarantee.
How Expensive is The Dairy Revenue Protection Program?
The price of the policy is “actuarially fair”, meaning it will vary daily based on the farmer-selected parameters and on the expected prices and risk in the market. In general, higher levels of liability and more deferred policies will be more expensive to purchase.
The federal government will subsidize costs for farmers. If you would like to find out more about this program, please contact GDI Insurance Agency, Inc. at 1-209-634-2929.
Under Dairy Revenue Protection a farmer has only five decisions to make:
- The method to value milk in the policy
- The amount of milk production to cover
- The level of coverage (from 70 to 95 percent of the revenue guarantee)
- Which quarterly contracts he/she wishes to purchase
- The optional protection factor
Participating dairy farmers are not precluded from participation in USDA Farm Service Agency’s Margin Protection Program.
GDI Insurance Agency, Inc. We’re on Your Side
No insurance broker does more to save you money on your Dairy Insurance than GDI Insurance Agency, Inc. When our agents show up, your coverage increases and your rates go down! Many times even with the same insurance company you have been insured with for years. Most of the time we have found you don’t need a new insurance company to get a better deal. Let GDI Insurance Agency, Inc. help you lower your risk with our exclusive dairy risk reduction programs. As you see here on our website, lower rates start and stay when risks are lowered! GDI specializes in reducing risk, getting you to proper insurance so when the worst happens you don’t lose your farm, and saving you money on your protection plan at the same time.
All you have to do is give our experienced brokers a call. We will give you the assurance you need to know you are paying as little as possible for the right coverage and the right limits. 888-991-2929
You’ll Have The Support Of Our Experts On A Continuing Basis
We don’t just make a sale and leave you hanging, here are just a few of the added value items we provide:
- We review your contracts
- Review your certificates of insurance
- Additional insured endorsements
- Full OSHA compliant safety programs
Our Agriculture Insurance Tools Will Put You in the Driver’s Seat!
Our agency can help you build solid loss control and safety programs to help you stay on top of your biggest risk management and compliance challenges, such as:
Interactive Risk Analysis Tools
Use these multifunctional tools to evaluate various pain points that are unique to the agriculture industry. Many of these tools can be customized for your organization’s specific needs, so you can see how your business is faring and learn ways to manage your risk exposures.
Injury and Illness Investigation Programs
Make sure that falls, chemical exposures and other injuries only cost you a single time. These resources can help you establish best practices for investigating the true sources of agriculture incidents and reduce the chance of costly reoccurrences.
OSHA, the Department of Agriculture and other federal agencies often release rules specific to the agriculture industry, and mismanaging compliance topics can lead to costly fines and a tarnished reputation. Use these attorney-written compliance tools to understand your obligations and make sure your business stays in compliance.
Response Plans and Programs
To ensure your long-term success, your business needs to be ready to respond to a number of common agriculture and farming risk exposures. These programs and response plans can help you and your employees be ready for a wide variety of scenarios, such as heat illnesses, vehicle rollovers, equipment malfunctions and silo emergencies.
Employee Safety Communications
Promote various workplace topics with hundreds of employee-facing resources, including flyers, articles, bulletins and guides that will help keep health and safety top of mind.
OSHA Compliance Program for Agribusiness
Does your broker provide you with timely updates on new and revised OSHA regulations?
OSHA constantly updates its standards and requirements, and even a single update can drastically impact the construction industry and your regular operations. We can provide you with attorney-reviewed documents that outline your obligations, making it easy for you to focus on your agribusiness projects instead of complicated OSHA rules.
Are you prepared for an Unannounced OSHA inspection?
If an OSHA inspection finds violations at one of your construction sites, you could face fines and watch your reputation plummet. We can offer you agriculture-specific compliance resources and inspection guides to help you address potential issues before they occur.
Does your Agriculture business comply with OSHA’s hazard communication standards?
Agriculture employees often have to work with or around hazardous substances, and even one incident can lead to serious injuries and costly fines. Our clients have access to agriculture-specific toolbox talks and articles, as well as workplace posters and hazard communication programs that can ensure your business is compliant with OSHA standards.
Learn About the GDI Client Philosophy!
If You Think This Sounds Too Good To Be True, Here Is What Just A Few Of Our Clients Have To Say about their Insurance:
"“…$385,000 less a year than we were paying
We looked hard at all our budget items, and insurance seemed to be a big fixed expense. GDI found us a policy for $385,000 less a year than we were paying”
-CA Home Builder
"…found me coverage for $140,000 less a year
When everyone else said that was the best they could do, I called GDI, and they found me coverage for $140,000 less a year than anyone else offered.”
-CA Cement Contractor
“Honesty and integrity are two qualities that mean the most to me. I have found that GDI has always put our interest first and has always given us outstanding service while saving us tens of thousands of dollars in premiums over the years. In fact, our family’s experience with GDI has been just the opposite of what our prior agent and another agent had said.”
GDI Insurance Agency, Inc. Your Trusted Business Insurance Experts
As one of the fastest growing agencies in California, GDI Insurance Agency, Inc. is able to provide its clients with the latest and greatest of what the insurance industry has to offer and much, much more.
With locations across the heart of California’s Central Valley and beyond to provide a local feel to the solutions and services we provide our clients. We pride ourselves on exceeding our client’s expectations in every interaction to make sure that our client’s know how much we value and appreciate their business. Contact us today 1-209-634-2929 for your comprehensive dairy farm insurance quote!