Insurance reminders before Mar. 15
GRAYMONT – Ahead of the federal crop insurance deadline of March 15, officials in the insurance industry are issuing some reminders for farmers.
A recent meeting hosted by GCA Insurance Services in Graymont helped local growers understand the basics of crop insurance. GCA’s Donna Van Weelden noted soybean county yields have been adjusted for this year but corn remains the same.
“One of the things that is a gift to farmers is a yield adjustment,” Van Weelden said.
The government created the trend adjustment option in 2012 and the yield exclusion was offered after that. Growers have the option of basic, optional and enterprise units. Most have enterprise units but some prefer the optional choice.
“Those unit structures are subsidized by the government,” added Van Weelden.
Van Weelden reminded farmers that they must have a claim turned in before replanting anything in the spring. As a tenant, producers are responsible for a landowner’s policy and if something doesn’t look right, contact an agent within 15 days.
“Production claims are something we have to count on you to be aware of.”
A new feature for 2018 is margin protection, which helps cover changes in the cost of inputs. Participants must sign up for this choice by September 30 of the previous year.