March 9, 2012
USDA’s March 8th blog featured a new online revenue protection tool from the Risk Management Agency (RMA) developed by NSAC member organization, the National Center for Appropriate Technology (NCAT), and Montana Tech of the University of Montana. Jeff Schahczenski, a member of NSAC’s Organizational Council, was the lead developer of AGR-Lite Wizard, an online tool that allows farmers to analyze their AGR-Lite eligibility, examine differing loss potential, and create reports useful for insurance options.
AGR-Lite is a federally subsidized, whole-farm revenue protection package available through private crop insurance agents in 38 states.
According to Schahczenski, “The AGR-Lite Wizard was designed, tested and evaluated by many farmers and ranchers from across the country and is very user-friendly. For instance, it is extra helpful and specifically provides easy data entry from tax forms. If a farmer or rancher has their Schedule F tax forms, in an hour they can estimate how much AGR-Lite will cost at various levels of coverage and the likely indemnity payment for possible loss scenarios.”
The AGR-Lite tool combines annual farm reports with IRS income information over a five year period to assess guaranteed revenue for an insurance period. AGR-Lite insurance includes maximum liability coverage of $1 million and allows for multiple agriculture commodities in one insurance product.
AGR-Lite Wizard is available online or on compact disc from NCAT. For a free compact disc, call 406-494-4572 or e-mail Jeff Schahczenski at email@example.com.