Now is the time to sit down with your insurance agent review your crop insurance policy and make any necessary changes as an entity change, marital change, level, plan, options, adding crops, counties, etc. and confirming the coverage’s.
By now you should have gathered the remaining harvested production for policies that did not enter into a claim situation. This will be helpful when quoting the policies.
We have ordered the map books for reporting 2016 acreage reporting. If you know of any land changes, let your agent know so necessary updates are done.
There are many things to look at and complete in a short period of time. Make sure you have contacted your County FSA office to update Yields, Acres and make sure you are conservation compliant by completing or updating the AD-1026 form. Not doing this would jeopardize your premium subsidies!
RMA has set new rules pertaining to Native Sod/ New Ground Breaking: If you are not compliant this could result in zero premium subsidies on those Native Sod acres. If you are thinking of breaking new ground or busting sod, contact your insurance agent.
The BFR (Beginning Farmer Rancher) was a new program last year that will be of interest to those just starting out farming in the last 5 years. If you have not actively operated and managed a farm or ranch in ANY county or state anywhere in the nation for more than 5 years with an insurable interest in crop or livestock they may qualify. This application process will need to be completed by March 15th.
- Up to 5 years of added benefits
- Waiver of Administrative Fees
- Receive an additional 10% premium subsidy that is greater than your current premium subsidy
- Additional 20% of yield adjustment in the event of a major loss and if the YA option is elected on your policy
At AgQuest Insurance we feel strongly about the details of your policy, by answering a few simple questions you can decrease the chance for error or misunderstanding before it becomes a costly mistake. Click here for a complete checklist that will help you with your crop insurance needs.
AgQuest Insurance is an equal opportunity provider.