Crop Insurance – What You Need to Know

When it comes to crop insurance, there is a lot to talk about this time of year. Whether you
have a claim for wind, hail, fire or drought, here are some important items to keep in mind:

• Don’t wait to call or email a notice of probable loss. Contact your AgQuest Insurance
agent immediately when a loss to a crop occurs. These claims must be reported within
72 hours of initial discovery of damage.
• If you encounter a field that has low yield or disease problems, please call your AgQuest
Insurance agent to setup a claim. If the claim is not needed after harvest, we can withdraw
it very easily.
• Record keeping is the key! In the event of a claim you will need to have load records, yield
monitor records and scale tickets marked to keep production from being commingled. If
you have questions or if you are not sure what records are needed, give us a call and we
would be happy to come to your farm and go through it with you.
• Prior Years Production: If you have any stored grain from prior years, and your intentions
are to add new production to that same bin, please notify us immediately. An adjuster
must come out and measure previous year’s production BEFORE you can proceed.
• Production Must Be Kept Separate by Unit! Optional units will be combined if the
production has been commingled between units. Keep uninsurable acreage production
separate from insurable acreage production or it will be added together as total acres
of production. Any second crop put on those acres needs to have the production kept
separate, as well.
• $200,000 Claim: In the event you would have a payable claim over $200,000 per crop,
there will be procedures to follow per RMA. The insurance company will need to verify
the last three years of production records before they will approve a payout on the claim.
• If you have significant damage and you feel you are in this position, we can start the
review of prior years now and we don’t have to wait for production results.
• Fall harvest prices will be averaged through the month of October. We will know the final
harvest prices within the first week of November, at which time claims will start being
paid out.
• Revenue loss due to a lower harvest price, must be reported within 45 days of harvest
price release.
• Before you chop corn for silage or destroy any crops, call your AgQuest Insurance agent.
This appraisal will be crucial in the event you have a claim during harvest season. If prices
remain low, this could result in a revenue-based claim despite having a respectable yield.
• Production loss must be reported within 15 days of the completion of harvest.
• Forage Production Coverage: Sales Closing/Cancellation date is September 30.
• Fire/Drought: Covers losses due to natural and mechanical fires, unharvested grain, as
well as grain in the hopper. The premium is $.025 per $100 of coverage.
• Multi-peril premiums must be POSTMARKED by September 30, 2018 to be considered
paid on time. If not, accrued interest will apply. Waiving interest is not an option and your
crop insurance agency does not control this aspect.

In closing, when in doubt about how to proceed on a crop insurance claim, please give your
AgQuest agent a call. We are here to help! We are grateful you have partnered with us to help
with your risk management needs.

Be aware and have a safe harvest season!

AgQuest Insurance is an equal opportunity provider.