How do I keep track of my production if I store my crop in bins on my farm?
If you have optional units (by section in township) you need to mark bins or keep track of truck loads. If you do not keep track of your optional units and you co-mingle it all, that could throw you out of a claim. If you haul to elevator, keep scales tickets and summary sheets. If you have enterprise units, all you need is total production for that crop.
Can I use a yield monitor figures for optional units?
If you have a loss, a yield monitor will not be accepted by the company. If you do not have a loss, a yield monitor can be used. Keep in mind that if you are ever audited, you will need to prove those yields with records that you hauled into the elevator.
How do I know if I have replant coverage and if I qualify for it?
Replant coverage is covered under MPCI, CRC and RA products. CAT does not have this coverage. GRP and GRIP do not have this coverage available unless you purchase an endorsement on a hail policy at sales closing date. There are qualifications that need to be met so call us to find out.
How do I know if I have preventive planting coverage?
Preventative planting coverage is covered under CAT, MPCI, CRC and RA products. GRP and GRIP do not have this coverage unless you purchase an endorsement on a hail policy at sales closing date. There are qualifications that need to be met so call us to find out.
What if my crop fails and it is not worth it to harvest it?
Please call us before you destroy the crop. It must be appraised by an adjuster.
I chop a lot of my corn and have no way of keeping records for it. What should I do?
Contact us immediately before you start chopping. An appraisal is needed.
When will I know if GRP or GRIP will pay out?
County yields are not released until March 1st of the following year. The prices for GRIP are established in the fall but without the county yield, we would not know if it paid out until March also.
What is the difference between RA vs. CRC?
There are three main differences between the two products.
- The harvest price for RA corn is established during November on December futures. CRC is established during October on December futures. RA and CRC soybeans are established at the same time.
- On RA you can elect not to have the Harvest Option on your policy if you think the harvest price is going to go down from the base price. This can save you money on premium. But keep in mind that if the fall price is higher than the base price and you do not have this option, it could throw you out of a loss situation.
- With CRC there are price limitations on how much the fall price can flucuate from the base price. Corn cannot be greater than or less than $1.50 from the base price and for soybeans it is $3.00. With RA, there are no price restrictions on how much it can go up or down in the market.
