High Revenue-Based Crop Insurance Claims Expected This Fall

Thursday, August 29th, 2024 Insurance Industry Property Risk Management

This fall, many farmers are likely to encounter revenue-based crop insurance claims, driven by a significant drop in commodity prices. Doug Yoder, a crop agency manager with Country Financial, highlighted the critical need for farmers to collaborate closely with their insurance agents.

Despite healthy-looking harvests, revenue projections are weak, and timely filing of claims tied to harvest dates is essential. Yoder advises farmers to proactively submit claims even if a loss isn’t certain, as missing deadlines could result in lost opportunities for compensation.

The ongoing fall price discovery period for the Revenue Protection Plan remains crucial, continuing through mid-September.

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https://www.brownfieldagnews.com/news/high-potential-for-revenue-based-crop-insurance-claims-this-fall/

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