Agricultural News
Crop Insurance Deadline Nears
Tue, 09 Mar 2010 17:41:37 CST
A national pilot program advanced by the National Corn Growers Association and adopted in the 2008 Farm Bill increased the federal government’s cost share of premiums for federal crop insurance program policies. NCGA says the change better reflects the additional risk by producers who change from optional unit to enterprise unit policy coverage. March 15 is the sales closing date for the 2010 program.
An enterprise unit includes all shares of a crop in the county, which aggregates sharecropped land with owned and rented land. Overall, the higher enterprise unit subsidies have facilitated a switch from lower levels of coverage on smaller basic and optional units to higher levels of coverage.
The pilot program is designed to give farmers who insure their crops using whole-farm and enterprise-unit structures the same subsidy payments as farmers who insure their crops under basic and optional unit structures.
NCGA suggests growers review the national pilot program with their crop insurance agents to determine if the new enterprise unit coverage incentives are beneficial for their farm operations.
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