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Having the right crop insurance is critical for your farm, especially to protect against severe weather and ensure your crops are covered throughout the growing season.

As the fall harvest wraps up each year, another important season moves in: crop insurance renewal season. Before you start planting again in the spring, this time gives you an opportunity to assess your current coverage and identify any gaps. Here are some key things to keep in mind heading into renewal season.

Get your claims in

Prior to making insurance plans for the year ahead, the first order of business is reporting your harvested production for the past year and taking care of any unfiled claims through your current coverage. If you need to file a claim related to production loss due to crop damage, you should report it within 15 days of harvest completion. Insurance companies have the right to reject claims that are not reported within 60 days.

If you have a revenue protection policy and experience a revenue loss due to a drop in harvest prices, report this loss within 45 days of the official announcement of those prices by the USDA’s Risk Management Agency. Wheat, barley and canola prices are reported annually on September 1, while prices for corn, soybean, sunflower and other crops are reported on November 1.

You should also keep in mind the end dates for your current policies. For instance, corn and soybean insurance ends annually on Dec. 10. Claims filed after a cut-off date are considered late and are not guaranteed to be covered.

Work with your advisor during renewal season

After taking care of any outstanding items, it’s time to turn your focus to coverage for next year. Crop insurance renewal season generally runs annually from January to March. It’s important to meet with your insurance advisor in a timely manner during this period to ensure any questions get answered and the right coverage is implemented.

Many ag insurance policies will automatically renew if not cancelled by the policyholder, but renewal season gives you the opportunity to make changes and add on supplemental products. Your advisor can help you assess your needs and meet deadlines, such as March 15 for multi-peril crop insurance (MPCI), which is a federally backed program used by many farmers as their base layer of protection.

The USDA’s Pasture, Rangeland and Forage (PRF) Insurance is also an increasingly popular option. This coverage is designed to help livestock producers manage financial impacts from a lack of rain during specified times. The annual sign-up deadline is Dec. 1.

No matter your coverage needs, be sure to work with an experienced ag insurance team to walk through all your options and find the right package for your operation.