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NATIONAL CROP INSURANCE SERVICES
7201 West 129th Street, Suite 200
Overland Park, KS 66213
FOR IMMEDIATE RELEASE
Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, North Carolina, and
South Carolina
for more information contact Jan Eliassen 410-778-0120
(This story is about a 2/28 deadline for farmers to make important risk
management decisions.)
'05 Crop Insurance Choices Looming
Between now and February 28, growers of major spring planted crops throughout the South, from North Carolina through Mississippi, will once again face the year's first big risk management decision... what kinds of crop insurance policies do I get and how much coverage do I choose?
This year the choice is complicated by a general rise in crop insurance premiums at many levels of coverage. The first inclination may be to move to lower levels of coverage but the experience in recent years, according to Risk Management Agency data for a sampling of states, is that those buying at the 70 percent level, or higher, get significantly more return for their investment. Thirty percent losses, or less, are more common than 50 percent losses.
Some of the more common insurable crops sharing the February 28 deadline are: cotton, corn, grain sorghum, peanuts, soybeans, tobacco, and rice.
February 28 is not only the deadline to sign up for crop insurance, but also the deadline to make any changes to existing policies. To do either of those things, growers should contact a crop insurance agent well before the 28th.
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