multi-peril crop insurance
Multi-peril crop insurance is a type of insurance designed to protect farmers from various risks that can affect their crops. This coverage typically includes losses due to natural disasters like droughts, floods, and hail, as well as issues like disease or pest infestations. By providing financial support, it helps farmers recover from unexpected events that could otherwise lead to significant financial losses.
Farmers can purchase multi-peril crop insurance through private insurance companies or government programs. The insurance is usually based on the expected yield of the crop and the specific risks associated with the region where the farm is located. This ensures that farmers have a safety net to maintain their livelihoods.