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High potential for revenue-based crop insurance claims this fall

The crop agency manager with Country Financial says many farmers could be dealing with revenue-based crop insurance claims this fall.

Doug Yoder tells Brownfield…

“The revenue side is where we’re going to be looking at, and we’re going to need bumper crops because the commodity prices have fallen off so drastically.”  He says, “Farm income projections are not good because of this.”

Yoder says it’ll be key for farmers to work closely with their agents.

“You see a good crop rolling through the combine and not think claims, but there’s deadlines to get a revenue-based claim submitted as it ties into your harvesting dates, things like that.”  He says, “Your agent can guide you there and make sure that those claims get turned in properly.”

He also says it’s better to be proactive.

“If there’s even a remote chance of a revenue-based claim, have that claim turned in.”  He says, “Even if we work the claim and there isn’t a payable loss, that’s OK.  You’d rather make sure that happens, as opposed to missing a possible claim.”

Yoder says the fall price discovery period for the Revenue Protection Plan continues through mid-September.

AUDIO: Doug Yoder – Country Financial