Whole Farm Revenue Protection (WFRP) is a plan of Federal Crop Insurance that provides a risk management safety net for all commodities on the farm under one insurance policy.
Each of the other crop insurance policies we have considered in this sections are purchased for a specific crop (e.g., wheat, corn, soybeans, nursery) or commodity (e.g., livestock). WFRP provides insurance for the entire farm operation that may include many different crops and commodities under a single policy.
The success (or failure) of an agricultural operation usually depends on more than a single commodity or enterprise. Recall our discussion from a previous lesson about farm diversification. Even though one enterprise on the farm may suffer a bad year due to production or market factors, others might thrive or at least help provide stability for the farm as a whole. The WFRP insurance guarantee is based on revenue for the entire operation.