The Farm Income Stabilization Insurance (ASRA) program is a collective type of insurance. It protects your business against market and production cost fluctuations.
Complementary to the AgriStability and AgriInvest programs, ASRA pays compensation when the average selling price is lower than the stabilized income. The stabilized income is based on the production cost of specialized farm businesses.
ASRA covers several animal and plant productions, including:
The product Milk-Fed calves is no longer eligible for the Farm Income Stabilization Insurance Program as of January 1, 2016.
The products Potatoes, Grain Corn and Soybeans are no longer eligible for the Farm Income Stabilization Insurance Program as of the 2016-2017 participation year.
You can insure one or more of your productions under ASRA. However, all productions insured must be insured in their entirety.
ASRA is a companion program to AgriStability. If you participate in both programs, you will receive the higher amount between the government contributions calculated for each program.
Note that ASRA compensation for any operation that does not participate in the AgriStability program will be reduced by 40%.
If your operation qualifies for a grant through the Financial Support Program for Aspiring Farmers, you can obtain a discount, if you apply for it, of 25% off your ASRA contributions, up to $50,000 annually for your insured products. The discount is for two consecutive insurance years.