The combination of a wet spring and widespread damage last August from Tropical Storm Irene caused many producers to reexamine their farm risk management plans for this year. As we look back on how crop insurance benefited those growers who opted for insurance protection, it is important to note that 41% of the insured farms in Vermont received a payment for 2011 losses. These loss payments totaled nearly $6.4 million, which was eight times more than the farmer paid premiums for the same period, and may very well be a major contributing factor to their ability to continue to operate this season.
While producers had to make their crop insurance policy choices in March, ongoing responsibilities remain as we head into the growing season. First, is to be familiar with the prevented planting and replanting provisions of corn and soybean policies as we head toward the final planting date of June 10. Excess moisture which might reduce the quality of small grains may be another possible insurable cause of loss which should be noted.
Second, the policies require that you file a notice of damage to your crop insurance agent within 72 hours of discovery. Many fruit growers have already taken this action because of late frost damage. Prompt notice of damage allows an adjuster must be able to evaluate the damage in order to receive the full benefits of each policy(s). Additionally, if you participate in Farm Service Agency (FSA) programs, it is important to report your prevented planting acreage within 15 calendar days after the final planting date of June 10 in order to receive prevented planting acreage credit.
If you have questions on deadlines for your area or on other issues, contact your crop insurance agent promptly.
The combination of a wet spring and widespread damage last August from Tropical Storm Irene caused many producers to reexamine their farm risk management plans for this year. As we look back on how crop insurance benefited those growers who opted for insurance protection, it is important to note that 41% of the insured farms in Vermont received a payment for 2011 losses. These loss payments totaled nearly $6.4 million, which was eight times more than the farmer paid premiums for the same period and may very well be a major contributing factor to their ability to continue to operate this season.
Temperatures dropped to the high teens throughout Vermont last night, according to the National Weather Service Office. Terry Bradshaw, from the UVM Horticultural Center, reports a low of 24 degrees in Burlington. As a result, it is likely that some orchards suffered frost damage.
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