|AgDM Newsletter September, 2011|
Harvest crop insurance reminder checklist
Steven D. Johnson, farm and ag business management specialist, Iowa State University Extension, (515) 957-5790, firstname.lastname@example.org
The2011 growing season saw extreme weather conditions that will likely result in yield variability even within a field. Harvest projected prices are determined in the month of October by using the average futures price for December corn and November soybean. These final projected prices will be watched closely as they have the potential for increasing final indemnity payments.
It is estimated that 90 percent of Iowa’s row crops are covered by crop insurance in 2011. Most producers use farm level policies such as Revenue Protection (RP) or Yield Protection (YP). Special attention to detail prior to and during harvest is recommended.
Always practice good communication skills with your crop insurance agent.
Consider these reminders to maximize your potential indemnity payment:
1. Any old crop grain still stored on-farm should be measured by an adjuster prior to harvest.
2. Notify your agent before destroying or chopping corn for silage.
3. Contact your agent within 72 hours after discovering damage to a crop.
4. Keep production records so that yields for each unit can be separated.
5. Mark production records including yield monitor data and scale tickets by unit, farm name or specific reference.
6. Keep track of feed records for production that is being fed.
7. Report your actual production history (APH) for each unit to your agent immediately following harvest.
Should you have questions, notify your crop insurance agent.
Source: USDA Risk Management Agency and private industry sources, August 2011.