With the late planting season onset of heavy rainfall, many farmers found that planting or replanting corn and soybeans was just not a feasible option. Farmers unable to plant or replant will want to start exploring their crop insurance options, said George Patrick, Purdue University agricultural economist.
“In some instances, farmers may not have been able to plant their original crop and in other instances farmers may have lost crops due to flooding,” Patrick said. “If producers have followed good farming practices, they may be eligible for different crop insurance benefits — depending on individual circumstances and the type of insurance they have.”
Farmer-based multiple peril crop insurance plans include Actual Production History (APH), Crop Revenue Coverage (CRC), Revenue Assurance (RA) and Income Protection (IP). If planting was prevented because of the weather, an insured producer could choose not to plant a crop and take a payment of 60% of the original yield guarantee level.… Continue readingRead More »