1/27/2014

Crop Insurance Deadline Approaching for Spring Crop Sales Closing

The deadline to insure spring crops in the northeast for the 2014 crop year is March 17, 2014. Insurable spring crops include field and vegetable crops such as corn, soybeans, barley, oats, fresh market sweet corn, cabbage, processing beans, processing sweet corn, dry beans, green peas, fresh market beans, tomatoes, tobacco and potatoes. Coverage availability varies by county.

The crop insurance program has become the backbone of many northeast farms’ risk management plans. Weather fluctuation and market volatility are major risks for crop producers. Crop insurance helps to manage this risk by providing protection against damage caused by weather, disease, insects or wildlife. Protection is also available if weather prevents the planting of crops or causes the need to replant crops. In addition, some crops can be protected against changing market prices.

Crop insurance played a significant role in 2012 when crops were damaged by drought conditions. In 2013 the drop in the price of corn over the growing season, combined with wet conditions throughout the planting and growing season, resulted in losses protected by crop insurance.

To protect investments in the 2014 crop, spring crop producers should contact their Crop Growers agent well in advance of the March 17 deadline to sign up or make changes to their coverage. Additionally, producers who are renewing coverage should report any changes in their business to their crop insurance agent, such as bringing a new member into the business entity or forming a LLC or corporation.

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