SHARE

by Erica Stockstad and Troy Stevens

An unfortunate reality of being a farmer is dealing with losses due to extreme weather. The upper Midwest has endured both drought and flooding in recent years, and these conditions can wreak havoc on crops and impact harvests.

This is why it’s critical to have crop insurance, but the insurance is only truly valuable if used properly. Here are some important requirements and dates that farmers in the region should keep in mind to maximize their coverage during the busy harvest season.

File damage claims promptly

If you notice that an insured crop has sustained damage, you should report it to your agent as soon as possible —in fact, most policies state that you should do so within 72 hours.

Sometimes, damage might be spotted while you’re in the middle of harvesting crops. In this situation, you should report losses within 15 days of harvest completion. If you don’t file a report within 60 days, insurance companies have the right to reject your claim. It’s also important throughout your harvest to keep production separate by section or unit if fields cross section lines. This will help adjusters properly assess damage and harvested production for the claim process.

Finally, all losses must be reported by defined cutoff dates. In Minnesota, North Dakota and Wisconsin, those dates are:

• September 20: Processing beans (the date is October 5in Douglas, Kandiyohi, Pope, Redwood, Renville, Stearns and Swift counties in Minnesota)

• September 30: Corn (silage), wild rice, dry peas and sweet corn

• October 15: Actual production history (APH) forage production and potatoes

• October 31: Wheat, barley, canola, dry beans, flax, oats, rye, safflower and triticale

• November 15: Sugar beets

• November 20: Cranberries

• November 30: Sunflower

• December 10: Corn (grain), grain sorghum and soybeans

Other things to keep in mind

In some instances, you may want to completely destroy a damaged crop, possibly to plant a cover crop or put the crop to some other use such as silage or bale. If you’re considering this option, you should contact your insurance advisor at least two weeks in advance to have an appraisal completed. Destroying evidence of damage before an appraisal is done can hinder your chance of collecting on a claim.

Farmers may also incur losses due to a drop in harvest price rather than crop damage. If you have a revenue protection policy in place and experience a revenue loss, you should report this within 45 days of the official announcement of harvest prices by the USDA’s Risk Management Agency. Wheat, barley and canola prices are reported annually on September 1, while corn and soybean prices are reported on November 1.

This is a lot to keep straight, and missing a deadline can be costly. That’s why it’s important to work with an experienced ag insurance partner, who can help you find the right coverage and answer any questions.