Crop Insurance Newsletter - Wisconsin Spring 2014

Spring 2014 News, know-how and risk management updates...

CROPINSURANCE WISCONSIN

WELCOME

to the spring 2014 issue of the GreenStone Crop Insurance Newsletter. With spring upon us, and with planting right around the corner, there are some key points to remember during planting season.

Important Dates: April 11/21* Corn early plant date April 26

Soybeans early plant date

April 29

Production reporting deadline for all spring 2014 crops

May 15*

Spring wheat final plant date

May 25*

Forage seeding, oats, spring wheat and barley final plant date

May 31*

Corn (grain) and spring wheat final plant date

June 5*

Corn (silage) final plant date

June 10*

Soybeans final plant date

July 1

Forage and fall wheat premiums billing date

July 15

Spring acreage reports due and processing beans final plant date

Aug. 15

Spring premium billing date

*Dates can vary by county, consult your crop insurance specialist.

October

1

Crop Insurance Alerts!

Crop Insurance Alert postcards CROP INS will be mailed ALERT URANCE out on an “as needed” basis to customers. The goal is to communicate vital information that we receive with you.

Postcards feature a red front to make them easy to distinguish from other items you receive in the mail. Please carefully review each alert to ensure any required action can be completed in a timely manner. www.gre enstone

fcs.com

This Crop Insurance Newsletter is brought to you by your local GreenStone Crop Insurance team:

Important Reminder

Late fees will be charged on any unpaid premium on Oct. 1. Please make note of this important change as late fees cannot be waived. If you cannot pay your premium before the due date, please contact your Approved Insurance Provider (AIP) to make payment arrangements. Payment is due regardless of whether or not you have an outstanding claim.

GreenStone FCS is an equal opportunity provider and employer.

Serving Michigan and Northeast Wisconsin with 36 locations

www.greenstonefcs.com

2014 News Prevented Plant or Replant If weather conditions prevent you from planting or you need to replant, you may qualify for a claim. File a claim with your specialist before replanting. Do not replant before calling your crop insurance specialist. If you have a prevent plant situation, a claim must be filed within 72 hours after the end of the late planting period, which varies by crop. There is a minimum requirement of 20 percent of the unit or 20 acres for both replant and prevent plant, whichever is less.

GreenStone Offers Mapping

First Crop-Second Crop If you are planning on possibly removing a first crop to plant a second, make sure you contact your crop insurance specialist before doing so.

You could potentially be eligible for a claim, but you may forfeit that eligibility if you act before contacting your specialist to discuss your options!

Organic Crops As a reminder, Risk Management Agency (RMA) now requires all insured organic certified producers to provide a copy of their organic crop plan and organic certificate to their agent before the acreage reporting date.

2014 Fall Wheat and Forage Claims Appraisals are required when a customer plans to do something with the crop other than harvest in the normal manner. If you do not plan to take your wheat/forage to harvest, we must appraise the acres prior to destruction.

At no cost to you, we can create a customized map booklet for your operation.

Your personal map booklet can be used for: • Acreage and production reporting • More accurate claims adjustments • Field record keeping • Communicating with employees and vendors • Tracking chemical and fertilizer applications These easy to read maps will simplify reporting your information to us. More importantly, they will increase your reporting accuracy.

Call your specialist to schedule an appointment and get started today!

Now is the time to sign up for hail insurance!

Hail is a separate policy from your multi-peril crop insurance coverage. As an added bonus, your hail policy can provide coverage for fire, lightning, vandalism/malicious mischief and transit to the first place of storage. Rates and coverage can vary by crop and county. Keep in mind, hail insurance must be purchased before damage occurs.

LIVESTOCK GROSS MARGIN-DAIRY

Livestock Gross Margin-Dairy (LGM-Dairy) insurance is still available for purchase once per month, during the last business trading Friday of the month. The pilot program protects the margin between the class III milk price and feed costs. It has been available for the 2014 crop year since last October, when the federal government allotted $14.9 million to be used toward premium subsidy for the LGM-Dairy program. For April and beyond, there is still $5.4 million dollars of availability left. The 10-month class III average price for March insurance contracts was $19.51.

Do not miss out on a great opportunity to protect yourself from a downturn in the milk price! The biggest benefit to using LGM-Dairy is that it allows you to set a floor for losses, but does not limit your upside potential. LGM-Dairy will continue to be offered on a monthly basis as long as there is premium available. Here are the upcoming LGMDairy sales close dates through Sept.: April 25, May 30, June 27, July 25, Aug. 29 and Sept. 26.

fire

lightning

transit

Contact your GreenStone crop insurance specialist today to set up an appointment to review your options.

Acreage Reports— Acreage reports will be mailed to you in May for Spring 2014 planted crops. It is the customer’s responsibility to report the crop that was planted in each section, the planting date and your percent share of that crop.

Reporting your crop accurately and double checking everything is very important. Corrections or changes cannot be made after the July 15 reporting deadline.

If you have any questions or would like assistance, contact your local crop insurance specialist and they will be happy to help.

3515 West Rd. East Lansing, MI 48823

CROPINSURANCE NEWS Inside this issue: - Important Dates - Hail Insurance - 2014 News - Livestock Gross Margin-Dairy - GreenStone Offers Mapping - Acreage Reports

Enterprise Unit Structure— October

The added subsidy on the enterprise unit structure makes it an affordable option for many producers. The downside is, if you do not end up planting the required acreage, your policy can revert back to a basic unit structure, and your premium could increase substantially. There are two requirements to qualify for enterprise units:

MUST PLANT THE CROP IN TWO OR MORE 1) YOU SEPARATE SECTIONS IN THE SAME COUNTY.

AND LEAST 20 ACRES, OR 20 PERCENT OF YOUR 2) AT INDIVIDUAL CROP ACREAGE, WHICHEVER IS LESS, MUST BE PLANTED IN THE SECOND SECTION.

Adverse spring weather has the potential to cause prevented planting which could take some producers out of enterprise unit eligibility. Make sure to contact your crop insurance specialist if you anticipate any issues with meeting the enterprise unit requirements.

www.greenstonefcs.com