May 25, 2017
Deadline nearing to file for crop insurance
WEST LAFAYETTE, Ind. - Indiana corn producers have until June 5 to get their crops planted or replanted in order to qualify for full federal crop insurance benefits. The deadline for soybean growers is June 20.
Coverage is reduced by 1 percent per day for crops planted during the late-planting period, which lasts 25 days after the planting deadline for each crop.
Michael Langemeier, Purdue University agricultural economist and Purdue Extension cropping systems specialist, said farmers should check with their insurance agent for specific details of the policy they enrolled in last March.
“Policies differ,” Langemeier said. “With the significant rainfall and planting delays we’ve experienced this year, it is very important for producers to know what their policy will and will not cover.”
Prevented planting coverage could become an issue in some locations, he said. Under some policies, farmers can plant a cover crop on land they have claimed for prevented planting coverage, but cannot harvest forage until after Nov. 1.
Prevented planting coverage is intended to protect growers if they are unable to plant their crops by the deadline or in the late-planting period. Benefits apply to machinery, land rent, fertilizer, field preparation, labor and repairs and other planting costs but do not cover lost revenue.
The federal crop insurance program, administered by the U.S. Department of Agriculture’s Risk Management Agency, is intended to protect farmers from catastrophic yield or revenue losses. The program was expanded in the 2014 farm bill to replace many direct-subsidy payments.
Federal crop insurance coverage is available through approved local agents. To find a list of agents, or to get more information, go to http://www.rma.usda.gov/tools/agent.html.
Writer: Darrin Pack, 765-494-8415, firstname.lastname@example.org
Source: Michael Langemeier, 765-494-9557, email@example.com