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"What's
New"
updated 06/18/2007 2007 Crop Prices Multi-Peril
Crop Revenue
Revenue Assurance
GRIP
Sugar Beet Changes There is good news for sugar beet growers this year.
If you have any policy other than CAT you can now purchase a sugar
beet stage removal option. In the past if you had damage to your beets prior to
July 1, you were paid 60% of your guarantee, tore up the beets, and
planted to soybeans. If you
elect to purchase the stage removal option you are now paid 100% of your
guarantee. The extra coverage is very inexpensive to purchase.
The cost is typically between $1.50 to $2.00 an acre.
This coverage could add $100.00 or more per acre to your payment if
you have a claim. Remember, this coverage must be elected before March
15. If you want this coverage
or want a quote, please call the office immediately Deadlines, Deadlines Don’t
look now but the deadline for any changes to your spring
policy is almost here. March 15
is the last day for you to change your coverage, buy higher coverage, or cancel
your policy, or buy
extra prevented planting coverage. Due to
higher prices paid on commodities in the event of a loss, premiums will be
up. If you need
a quote or would like to make changes, please call us at 1-800-423-0801
A.S.A.P. Prevented Planting Changes While
most of you are familiar with the prevented planting program, there are
some new changes you all need to know.
The biggest change is you
must call within 72 hours of the final plant date if you are
prevented from planting.
If you don’t notify us then there is no claim.
That is big change number one. The
other big change is you can have prevented planting on your wheat crop and
then plant a spring crop on the ground and still collect a prevented
planting payment. How
much of a payment depends on what you want to do.
You can plant in the spring and receive a partial payment which
most will do. Let’s suppose
you have a 30 bushel guarantee and the price of wheat is $3.40.
This gives you a total guarantee of
$102.00. (30 x $3.40)
Normally you would get 60% of this for prevented planting or $61.20
an acre. If you plant a spring
crop on this ground you will get 35% of this amount or $35.70 an acre.
If the ground isn’t planted in the spring you will collect 100%
prevented planting of the wheat crop. Calling All Growers!! Do
you know some other growers who don’t carry insurance?
Would you please have them call or would you call the office with
their names. We would like to
show them why they need at least a catastrophic
policy on their crop. With
the disaster program making a grower buy insurance in order to qualify for
the government dollars, it is in their best interest to carry at least at
CAT policy. Be a friend and
help them out. Are You Feeling Pressured? Did you know that the law that became effective March 30, 1995, which authorizes the Commissioner of Insurance to issue an insurance agency license to a lender or an affiliate of a lender, contains many restrictions designed to ensure the separation of insurance and lending functions. For example:
This means they cannot discuss your buying insurance from them until after the loan has been approved. If they do, they are in violation of the law. If this happens, please let us know in writing. We want to protect you, our customer. [Home] [About Us] [Links] [General Coverage] [Named Peril Coverage] [What's New] [Contact Us] Jim Colville Crop
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