End of Insurance Period
December 10th marked the end of insurance for Corn and soybeans. This means that no coverage exists on standing crops in the fields unless you file for an extension. Extensions are granted from the adjusters on a case-by-case basis. It is imperative that you report any standing crop even if you do not anticipate having a loss immediately. All claims must be turned in within 15 days of the end of the insurance period!
We are seeing a high number of claims due to revenue only. We are checking every production report turned in and finding a lot of revenue claims that producers did not account for. We are rapidly running out of time to report these losses. The safest way to ensure your claims will get paid is to do your production report asap and allow us time to check your guarantees. A general rule of thumb for this year is if you are within 7% of your soybeans and 17% of corn you could trigger a loss. On a 40 bu soybean guarantee you could grow 43 and potentially have a loss as well as on a 125 corn guarantee you could grow 150 and still potentially have a loss. PLEASE CHECK YOUR PRODUCTION FOR ANY AND ALL POTENTIAL LOSSES.
Have a safe and happy holiday!
All offices will be closed on Dec 22nd and will re-open on Dec 26th, of course all agents and myself will be reachable on our respective cell phones.