Crop Insurance Questions Surface with Late Planting

Crop Insurance Questions Surface with Late Planting

16:57 20 May in Crop, Insurance

Reed Ihry of Ihry InsuranceReed Ihry, agent with Ihry Insurance, was interviewed by the Red River Farm Network regarding the issues farmers are having with late planting.

Farmers are asking their crop insurance agents about final planting dates and how many eligible acres of each crop they have for prevent plant coverage. The May 25 final planting date for corn is the biggest issue. “We know the guys are set up to plant a lot in a hurry, but we have to get some weather to go along with it,” said Reed Ihry, owner/agent, Ihry Insurance Agency.

Final planting dates for spring wheat in most of the region range from May 31 to June 5. USDA’s Risk Management Agency made an effort last year to clear up some of the confusion about prevent plant coverage. “If you’ve had ineligible acres for prevent plant, it needs to get planted, insured and harvested two years in a row to be eligible again. You can plant into the late plant period and take a little reduction in coverage.”

Ihry says the other incentive to plant instead of taking prevent plant coverage is price. Values of every crop are higher than they were when crop insurance guarantees were set in February.