While it’s important to ensure that your Mississippi agricultural business is covered by agribusiness insurance and flood insurance, the reality is that natural disasters and other catastrophes can wipe out your entire stock or crops in hours. It’s assuring to know that the USDA is ready to step in when disaster strikes.
With historic flooding in June hitting Northern Mississippi and the Delta, and the ravages of Hurricane Ida which landed on Mississippi’s Alluvial Plain in August, agribusinesses in the state could certainly do with some good news.
On Aug. 24, 2021, the USDA (U.S. Department of Agriculture) expanded CFAP 2 to include the following agribusinesses:
Eligible producers can now apply for the department’s Pandemic Assistance for Producers initiative. CFAP 2 provides needed assistance to farmers hit hardest by this summer’s natural disasters.
The $1 billion plan reimburses eligible poultry and livestock producers for revenue lost in 2020. If you produce the following livestock, you may qualify for this assistance:
Not all disasters that could impact an agriculture business result in federal aid for affected owners. Therefore, agribusinesses are strongly urged to review their business policies with a qualified agribusiness insurance agent. Bolstering existing coverage can mean the difference between sustained operations and going under.
So, what’s covered under Mississippi agribusiness insurance? This insurance can be tailored to different agribusinesses to include the following items:
Although flood insurance is handled by the National Flood Insurance Program (NFIP), savvy agriculture business owners protect their operations with the ideal insurance package to cover other unexpected losses. Experienced insurance agents help agriculture businesses get the coverage they need to protect their businesses, livestock, equipment, and homes against covered disasters.
Mississippi has had its fair share of challenges in the past few years. Take the time to protect your business from whatever the future may hold.
Make an appointment with a Hawsey Insurance agent in Madison, MS, Jackson, MS, or Baton Rouge, LA. You can also get a free quote online and find out more about our agribusiness insurance products for clients in Mississippi and the surrounding states.