USDA’s Risk Management Agency is taking a pilot program that provides crop insurance for nursery producers to operations across the country.
The Nursery Value Select program, which RMA says “enables producers to select the dollar amount of coverage that best fits their risk management needs,” was previously only available in certain counties throughout nine states. But RMA says it plans to take NVS nationwide beginning in the 2025 crop year.
RMA Administrator Marcia Bunger said the insurance option “meets a critical need of American nursery producers.”
RMA says NVS covers “field grown and containerized nursery plants” at levels ranging from catastrophic to 75%.
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Prior to the nationwide expansion, the NVS was piloted in select counties throughout Alabama, Colorado, Florida, Michigan, New Jersey, Oregon, Tennessee, Texas and Washington beginning in 2021. Use of NVS has grown to include $460 million in liabilities during the 2023 crop year.
Enrollment in the program will close on May 1 or Sept. 1 “as provided in the actuarial documents,” RMA said.
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