Federal crop insurance programs – Working for you!
In 2017, Utah producers insured over $44.6 million in crop value, and over 36 percent of policies received an indemnity payment. In fact, total program indemnities for 2017 totaled over $9.3 million (all figures as of 09/24/2018). Clearly, many Utah producers count on crop insurance to help “Guarantee a Payday.”
With October and November sales closing dates (for alfalfa, apples, barley, cherries, pasture/rangeland/forage, peaches, and wheat) quickly approaching, now is the time for producers to evaluate their crop insurance needs and coverage options. Local crop insurance agents are skilled at helping producers make good decisions about crop insurance program participation. An agent locator tool is available on the Risk Management Agency (RMA) website at RMA.USDA.gov. The website also provides premium calculators and additional details and tools to facilitate participation in Federal crop insurance programs. For a high-level look at the impact of crop insurance on Utah agriculture, please review the following program summaries:
- Utah Crop Insurance Profile: https://www.rma.usda.gov/pubs/2018/stateprofiles/utah17.pdf.
- Utah Detailed 2016 Crop Insurance Program Results: https://www3.rma.usda.gov/apps/sob/current_week/stcrop2017.pdf.
Livestock producers are reminded that two crop insurance programs – Pasture, Rangeland, Forage (PRF) and Livestock Risk Protection (LRP) – can be very effective in helping to manage production and market risk. In fact, the PRF program has seen dramatic increases in utilization by Utah producers over the last four years. Why? Because for many producers, it works! Find out more about PRF right now, because the program has a November 15 sales closing date.
Again, you can learn more about Federal Crop Insurance programs online at RMA.USDA.gov, or you can always visit with your local crop insurance agent.
The balance sheet you save may be your own!
Custom Ag Solutions (CAS) works with RMA and other partner organizations to educate Utah beginning producers about risk management and Federal crop insurance programs. To receive information by mail, call CAS at 833-424-7475. USDA, RMA, and CAS are equal opportunity providers. This content is funded under a USDA Risk Management Agency partnership (award #RM17RMETS522008).
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