If your farm is in an area that is different from the rest of the county, MPCI may be a better alternative for you. But keep in mind that you may not purchase both GRP and soybean MPCI coverage for the same crop year. It may sound too good to be true, but almost everything about GRP is simple. The concept is simple. Premium calculations are simple.
Payments are simple.
Even the paperwork is simple. Because of the way GRP works, the only information you need to provide is the acres of soybeans you have planted by the acreage reporting date. Since payments are made on losses based on the county yield, you don't have to provide FCIC with any evidence of loss. You don't even have to provide a yield history, because everything is based on the expected county yield. They are based on a relatively simple process of adding the yields of the previous 10 years and dividing by 10.