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Federal Crop Insurance Corporation (FCIC)

A U.S. government agency that manages the federal crop insurance program, which helps farmers protect themselves financially from losses due to natural disasters or declines in crop prices.

Single Index Insurance Policy

A type of insurance where payments are triggered and calculated based on a regional measurement (an 'index'), such as weather data for a county, rather than direct assessment of losses on an individual farm.

Covered Crop or Commodity

Any crop or product grown on a farm that is eligible for this insurance policy, including specialty crops, but not timber, forest products, animals for sport or show, or pets.

Covered Weather Condition

Specific severe weather events like high winds, flooding, extreme heat, drought, wildfire, or hail that are closely linked to farm income losses and would trigger an insurance payment.

Buy-up/Buy-down

The option for a policyholder to choose a higher (buy-up) or lower (buy-down) level of insurance coverage than the standard offering, allowing them to adjust it to their specific financial needs.

Underserved Producer

A farmer who belongs to a group that has historically faced barriers in accessing agricultural programs and resources, such as beginning farmers, minority farmers, or women farmers.