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Key Crop Insurance Sales Closing Date Quickly Approaching

For the 2014 crop year, crop insurance programs administered by the USDA’s Risk Management Agency (RMA) covered over 8.7 billion in crop liability for Minnesota farmers and ranchers.  The state had over 82,000 policies in force for 2014, and those policies covered over 17.6 million Minnesota crop acres.  Almost 60 percent of Minnesota’s insured producers suffered a loss and received an indemnity in 2014; in fact, the average indemnity per indemnified policy for 2014 was over $27,000.

So, how will you manage risk in 2015?  Minnesota producers are reminded that Monday, March 16, is the sales closing date for most spring seeded crops, including barley, corn, dry beans, sugar beets, sunflowers, and wheat.  March 16 is also the last date for new enrollees to sign up for RMA’s new Whole Farm Revenue Protection (WFRP) Program, which is a whole-farm revenue insurance program.

Producers planning to start (or modify) coverage should contact a crop insurance agent immediately to meet the sales closing deadline and learn about other key program dates. 

A crop insurance agent directory is available on the RMA website at www.RMA.USDA.gov.  The RMA website also offers many other useful tools, including a premium calculator, extensive program descriptions, and a variety of educational materials.

Federal crop insurance program policies are sold and serviced by private crop insurance companies.  Custom Ag Solutions works with RMA and other partner organizations to educate Minnesota producers about risk management and Federal crop insurance programs.  To receive information by mail, call CAS at 877-227-8094.  USDA, RMA, and CAS are equal opportunity providers.