PLANTING SEASON IS HERE!!
Important Dates: Corn Soybeans
Earliest planting date: April 5th April 20th
Final Plant Date: June 5th June 20th
End of Late Planting Period June 25th July 15th
Once you get your crops planted, please call us first to report your planted acres and planting dates to finalize your crop coverage. The crop information you give us should transmit to FSA so that when you report to the Farm Service Agency your crop insured acres and dates should match what is reported. If you discover you have a loss. It is your responsibility to contact your crop insurance agent immediately once you realize there is a loss or potential loss on your crops.
If you think you have a loss:
Prevented planting: You are required to call your agent within 72 hours to file a prevented planting claim within the late plant period or by the final planting date; June 5th for corn and June 20th for soybeans for crops that are prevented from being planted due to an insurable cause. NOTE: In order to receive Prevented Planting benefits, the loss must be general to the area. In other words, other producers must have been prevented from planting also. Your loss alone in a county WILL NOT qualify for a payment provided the majority of farmers in the area get their crops planted.
REPLANT CLAIMS
A notice of loss for replant must be filed within 72 hours of the initial discovery of damage or loss. All replant acreage is replanted to the initial crop. Please note that switching from one crop to another is not replanting and should be submitted as a harvest loss. Before you replant or destroy the crop, call your agent first to make sure you stay in compliance. A crop insurance adjuster must give approval BEFORE you replant or destroy the existing stand to receive loss benefits.
Once a notice of loss is filed, an adjuster will contact you to schedule an appointment to inspect the crop and review other pertinent information necessary to review your claim. REMINDER: You must notify and obtain consent from an adjuster BEFORE and AFTER the following actions:
- Destroying any of the insured crop that is not to be harvested;
- Putting the insured crop or acreage to an alternative use; or
- Abandoning any portion of the insured crop.
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LIVESTOCK REVENUE POLICY
Are you nervous about how long the livestock market rally will last? With a Livestock Revenue Policy (LRP), you can rest assured with price protection from a decline in price during the policy coverage period without limiting upside potential.
Using LRP, you can lock in a floor price for groups of livestock and are paid an indemnity when market prices dip below the floor price at the end of your endorsement.
How LRP works:
- LRP is federally subsidized and coverage is available for unborn calves, feeder cattle, fat cattle and swine.
- This policy is priced and available for sale continuously throughout the year.
- Cattle are locked in based on their final weight and the endorsement length of 13-52 weeks.
- LRP insures the price, not the animals.
- Producers are able to market their livestock within 60 days of the end of the endorsement but are not required to sell the insured livestock.
- There is no minimum number of head required
- Premiums are due 30 days after the end of the endorsement period
For daily quotes, follow Anya Pinkerton on X @AnyaPinkerton
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Precision Ag
We have the capability to use precision farming data for your crop insurance records. Please contact our office if you are interested in this ability.
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Smart Phone Apps
We live in a world where you want information at the tip of your fingers immediately. We now have smart phone applications for many of our insurers that provide you with the most current information regarding your crop insurance policy. Contact our office for more information.
Please don’t hesitate to contact our office at 800-209-7238 with any questions about your policy.
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How Your Revenue Policy Works
As market prices decline, there is a growing need to understand how your crop insurance revenue policy works.
Revenue policies guarantee a certain level of revenue rather than just production. It protects from a decline in crop prices or yield. Your crop coverage guarantee is based on the futures market and your yield history. Both are used to compute your revenue coverage and guarantee. The monthly average of the crop futures price for the month of February determines the spring crop price. A harvest price is determined in November using the new crop futures price during the month of October. The final revenue guarantee is computed by multiplying the higher of (projected price or harvest price x yield x your coverage level.) If your actual revenue falls below the revenue guarantee, you’ll receive a crop insurance indemnity equal to the difference.
Please keep good production records. Given current price levels, it’s important to submit your production information to us as soon as you are done harvesting so we can determine if you qualify for an indemnity payment.
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Livestock Mortality Insurance is available at Bath Insurance Group!
BIG is a livestock mortality insurance agency offering additional coverage for all aspects of livestock whether production or the show ring. It's no secret that livestock farming is a risky business. That is why a solid and affordable livestock policy is essential to protect your investment from those unexpected events and accidents that can devastate your animals and your livelihood.
Livestock insurance is individualized to fit your farming operation and cover your specialized livestock, whether you have cattle, pigs, sheep, goats, horses or any combination on your farm.
Insure your animals. For more information on rates and policies, contact us today.
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