Insurance and disaster payment deadlines are fast approaching
Louisville, KY (September 4, 2008) – Important deadlines are fast approaching for farmers who want to continue disaster and crop insurance protection on their farms. To do so, producers must meet certain sign-up provisions by September 16 and September 30 this year. If producers fail to meet those deadlines, it could result in a loss of their eligibility for the new disaster program (SURE) under the 2008 Farm Bill Act.
The 2008 Act requires farmers who wish to participate in any disaster programs in 2008 and future years to have crop insurance or non-insured crop disaster assistance (NAP) coverage for all farms in all counties in which they have an interest, even those crops that may be uninsurable such as pasture and forage.
For those who did not insure 2008 spring crops, the Act allows producers to pay a “buy-in” fee to be eligible for the new disaster assistance program. While the buy-in fee does not provide crop insurance or NAP coverage, it affords eligibility for any 2008 disaster programs. The buy-in form and fee must be completed and paid by September 16, 2008 at your local FSA office.
In addition to the buy-in fee deadline, another deadline is fast approaching. Farmers will need to sign-up for 2009 winter wheat crop insurance by September 30, 2008 and pay any NAP fees for uninsurable fall crops to retain eligibility for the disaster program for ALL 2009 crops. For example, a farmer growing any winter wheat must purchase at least the minimum level of crop insurance on all wheat to remain eligible for disaster payments on any 2009 corn, soybeans or other crops.
According to Amy Jackson, vice president insurance for Farm Credit Services of Mid-America, there is some level of confusion about these requirements. “At FCS we want to make sure that all farmers have the information necessary to meet these quickly approaching deadlines. It is important that all farmers visit with their crop insurance agent and local FSA office to make sure all crops are covered in order to get any level of disaster payment for 2008 crops and beyond,” she said.
Contact your local Farm Credit Services office at 1-800-444-FARM to purchase insurance on your 2009 winter wheat crop. For those crops requiring NAP, contact your local FSA office.
Farm Credit Services of Mid-America is an equal opportunity provider. This information and requirements of the 2008 Act and SURE program are managed by USDA and your local Farm Service Agency (FSA) office. Contact your local FSA office if you need further clarification on requirements for your farm.
About Farm Credit Services of Mid-America
Farm Credit Services of Mid-America is a $13 billion financial services cooperative serving over 84,000 farmers, agribusinesses and rural residents in Kentucky, Ohio, Indiana and Tennessee. The association provides loans for all farm and rural living purposes including real estate, operating equipment and housing and related services such as crop and life insurance, and vehicle, equipment and building leases. For more information about Farm Credit, call 1-800-444-FARM or visit them on the web at www.e-farmcredit.com.