National Crop Insurance Services 8900 Indian Creek Parkway Suite 600 Overland Park, KS 66210-1567 Phone: 913-685-2767 Fax: 913-685-3080

NATIONAL CROP INSURANCE SERVICES
7201 West 129^th Street, Suite 200
Overland Park, KS 66213

FOR IMMEDIATE RELEASE                                                  February 24, 2004

DELAWARE ONLY

For more information contact Jan Eliassen at 410-778-0120.  Data in this release came from USDA’s Risk Management Agency.

Spring crop insurance deadline
Additional premium subsidy announced

The producers of eight major spring planted Delaware crops are fast approaching the March 15 deadline for signing up for crop insurance, or for making any changes to existing policies.

Those decisions became even more important after the Risk Management Agency (RMA) announced an additional subsidy of the farmer paid premium for 15 states including Delaware, Maryland and Pennsylvania.

The “financial assistance factor” will reduce the farmer paid premium by 5 percent at the 50 and 55 percent buy-up levels, by 10 percent at the 60 and 65 percent buy-up levels and by 15 percent at the 70 percent level and up.

Producers will not have to apply for the extra subsidy, nor do any additional paperwork.  The crop insurance companies will apply the additional subsidy to the farmers’ policies.

The eight crops are: soybeans, sweet corn, processing beans, grain sorghum, and processing tomatoes.

All of these crops are insurable under the traditional Multiple Peril Crop Insurance (MPCI).

Corn and soybeans can also be covered (in all three counties) by Crop Revenue Coverage (CRC).

Soybeans can also be insured under the Group Risk Plan (GRP) in all three counties.  GRP for corn is available in Kent and Sussex counties.

Processing  tomatoes, grain sorghum, and  processing beans are insurable in Kent and Sussex counties.  Corn, soybeans, sweet corn, and green peas are insurable in all three counties.

Of note to the producers of processing beans is that while both contracted lima and snap beans,  are inssurable, lima beans following snap beans in the same crop year will not be insurable.

Producers wanting to sign up for, or make any changes to existing policies, should contact a crop insurance agent before the March 15 deadline. 

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Last updated: August 12, 2004.

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