Crop Insurance Extension
From the Ag Information Network, I’m Bob Larson. The USDA’s Risk Management Agency is giving farmers more time to pay their crop insurance premiums.
USDA’s Undersecretary for Farm Production and Conservation Richard Fordyce says it’s a badly needed break for producers struggling through another year of low prices and high inputs …
FORDYCE … “Customers that have policies with their crop insurance agent, we’re going to allow them another 60 days to pay their crop insurance premiums.”
Fordyce says it’s all about cash flow and timing …
FORDYCE … “When those crop premiums are due, we probably have combines in the field. And so, the need to be able to have access to that cash to pay that crop insurance premium may be a little bit difficult at times, so this just offers them an additional 60 days to pay that premium with no additional interest.”
Whether for individual premiums, administrative fees, or payment agreements for billing dates from July 1st through September 30th.
Separately, Fordyce says USDA’s restoring an added 5% buy-up coverage option for prevented planting …
FORDYCE … “With just some overwhelming responses from producers, different associations, and commodity organizations, we’ve been able to now reintroduce a five percent ‘top up,’ is what we call it, to the prevent plant coverage that already exists with a policy.”
The restored option kicks in for 2027 with a filing deadline of August 31st.
