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Crop Insurance Coverage Decisions Are Over...Or are They?

One of the most important dates for Multiple Peril Crop Insurance (MPCI) is March 15th when coverage is set for all spring planted crops.  Many believe little can be done after March 15th to improve coverage, but there are still some things that can enhance your risk management plan this year to set yourself up for success in the future.    


Report Accurate Acreage

  • Reporting accurate acreage amounts for your planted or prevent planted crop is critical for insurance coverage.  The most precise method of reporting acreage utilizes a producer's USB or cloud-based precision farming technology to import information into your crop insurance policy.  Our experience has shown the use of precision systems can improve the speed of claim settlements, establish more precise guarantees, and in many cases, save policyholders time and money.  Contact us to see how your precision equipment may streamline policy reporting and create the most precise crop insurance policy possible.        

Sod Break Acres

  • The special provisions of insurance for spring planted crops allow producers to request insurance on up to 320 new break acres that would otherwise be uninsurable. This request must be submitted by the acreage reporting date (07/15/2023), and the ground must meet the following requirements:
    • At least 75% of the new break acreage, by field, must have an NRCS soil type with a Capability Class of I, II, III, or IV.
    • Policyholders must certify what has been done to prepare the ground for planting, including dates of tillage or chemical application.  
    • Provide documentation that the new break acreage has been previously broken and planted to a crop.  Often a prior year’s 578 that shows the ground as cropland will meet this requirement. Otherwise, specific documentation of planting and/or harvest receipts or invoices are needed.
    • The producer must certify that all Conservation Plan requirements have been met with NRCS (if required).  
  • If the above requirements are met, the insurance company may extend guarantees at 65% or 80% of the County T-Yield.  Sod break acreage approved through this process will not qualify for prevent plant during the current crop year, but planting, harvesting, and insuring the acreage will meet the 1 in 4 prevent plant requirements for future crop years.  If you plan to break ground out of sod, contact your agent early to begin the process of requesting insurance.      

Double Crop Written Agreement

  • In Missouri counties where double crop soybeans or double crop grain sorghum are not insurable, RMA has made the process of obtaining a written agreement to insure these crops easier by removing the requirement to supply previous double crop production. Acres approved through the written agreement process will follow current unit rules which may result in initial and double crop acres being combined in a loss scenario.  If you have questions or wish to request coverage, contact your agent to begin the process.    


The storms that swept through Missouri at the end of March reminded us that we have entered the season where large hail and high winds can devastate growing crops.  Private insurance products are still available to protect against these perils.  

  • Crop hail insurance can be added at any point during the growing season if the crop has not already suffered damage. A few common perils this type of coverage protects against are hail, fire, theft, and malicious mischief.  Contact your agent to customize your protection and provide extra peace of mind.  
  • If you are interested in protecting your corn from green snap and wind or would like to add additional coverage for extra harvest expenses associated with these perils, we have numerous policies that can complement your MPCI coverage.  Most company provisions do require this coverage to be purchased by 06/15/2023, contact us today!     

Insure Your Livestock

  • Livestock Risk Protection (LRP) allows producers to lock in a base price and protect themselves against declining livestock markets.  Following the changes to the program in recent years, we are seeing participation in the product increase and many cattle and hog operators are utilizing LRP insurance to effectively manage risk.  Contact your local FCS Financial agent today or watch our video to learn more about LRP insurance.  


Farm Bill Impact

  • The Congressional Budget Office has projected the farm bill will exceed a trillion dollars and crop insurance will be the second highest expenditure making up about 7% of the total cost.  While crop insurance is often called the cornerstone of the farm safety net, that does not mean that it will not face challenges.  We encourage you to be engaged in the farm bill process and to actively share your voice of support for the crop insurance program!  

Margin Protection (MP) for 2024 Corn & Soybeans

  • MP is an area-based product that provides coverage for a decrease in operating margin.  This product is most often used to enhance insurance coverage for producers already purchasing an underlying Revenue Protection (RP) or Yield Protection (YP) policy. Prepare for 2024 corn and soybean coverage by reviewing Margin Protection which has a sales closing date approaching this fall (9/30/2023). 
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