Crop Insurance 05/16/18 1:26:35 PM
|Katrina Schreiner |
Licensed Crop Insurance Agent
Office: (217) 323-2815
Cell: (217) 248-3378
Actuarial Information Browser: https://webapp.rma.usda.gov/apps/actuarialinformationbrowser/
June 1st, 2018: Wind and Greensnap Endorsement Deadline
July 15th, 2018: Acreage Reporting Deadline
August 15th, 2018: Premium Billing Date for Federal Crop Policies
September 1st, 2018: COUNTRY Financial sends premium notices
Updates for 2018:
Prevented Planting Changes—The Prevented Planting +10 (PT) option coverage has been removed nationwide, leaving ONLY optional coverage for prevented planting available at +5% (PF). Prevented Planting +5% (PF) must be added or deleted by the Sales Closing Deadline.
Late Planting Period Changes—The late planting period for corn in Illinois has been reduced to 20 days.
Enterprise Units by Practice Changes—Policyholders can now choose an enterprise unit (EU) for one practice and the most appropriate unit structure on the other practice. This means you can use an EU for one practice and a Basic Unit (BU) or Optional Unit (OU) for another practice, or use an EU for both practices. Example: Irrigated Corn-EU; Non-Irrigated Corn-OU
Hail Discounts: The earlier you purchase, the greater your discount! WIND and GREENSNAP Endorsement Deadline: June 1st, 2018
7% when purchased by March 28th and paid by April 30th
6% when purchased by April 28th and paid by May 31st
5% when purchased by May 28th and paid by June 30th
4% when purchased by June 28th and paid by July 31st
Things to Be Aware Of:
Replant Provision—An adjuster MUST give consent to replant any acreage. A replant payment CANNOT be made if the policyholder replants acreage prior to receiving consent from crop adjuster.
Crops Grown Under a Processor Contract—green peas, processing sweet corn, popcorn, processing beans, and processing pumpkins require the insured to have a valid contract with the processor purchasing the crop. Contract is required with Acreage Report.
- Must file claim before replant.
- Replant means replanting to SAME crop.
- Replant must be at least 20 acres or 20% of unit.
- Adjuster must give consent prior to replanting.
Yield Cup Option—The Yield Cup (YC) option limits the actual APH approved yield from dropping more than 10% from one year to the next. Prior to 2018, the YC was automatic. This year, the yield limitation is an option that must be added or deleted by the Sales Closing Deadline on a crop/county basis.