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Financial Conversations with Fitz #97 - Conversation Boyken Insurance Agency and Crop deadlines - 02/28/2012

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Boyken Insurance Agency  review  today.     We have six licensed agents.  Most of the time you will be working with Jeff Carlton, Sue Heyer, Marsha Watkins or Marissa Koppen.  You can see an agent in anyone of our three locations.  Heck Allan still has his license.   We work all lines with different companies.  We pick that company that best fits the customer needs.  Whether it is personal, farm or commercial we have a company that will give you good protection for the money.  This is spring and that means water.  We hope) Ask our agents if you  have the right coverage for water damage…..whether it is back up or surface water….Today I will focus on the upcoming Crop deadlines.    We had crop insurance at all three of our locations this month.  

The first important date I want to mention is the March 15th sign up date for federal crop and renewal of your regular crop coverage with your commercial companies.   The final date for proving 2011 crop yield dates is April 25th.   There are new billing dates on 8-15-2012.   Your FSA date for reporting acres and plant dates is 6-30-12.   Reporting for insurance is 7-12-12.   Some reminders about Loss Notices;  Prevent planting at least 72 hours once you know of the delay, on Yield plans December 10th 2012, and Revenue Plans is 1-01-13 on corn and 12-1-12 on beans.    General observation is that rates are adjusted down slightly for corn and soybeans.    The MPCI prices are set at $5.78 for corn and $12.18 for beans.   If you are breaking up CRP ground to go back into production you need to tell your agent before 3-15-12.   You may need written agreement on this.   If you are planning on planting any specialty soybeans be sure to contact your agent before 3-15-12.   The BYE discount is gone this year.   There are some major calculations if you are working any Trend Yield Adjustment….Need to talk to agent on this.   Hail, Wind and Fire coverages.    Remember on Fire that MPCI only covers fire is started by GOD.   Hail insurance covers fire if you have hail on your corn.   You can get ‘fire only’ for a fee.   It was suggested that you get higher limits on your Farm Liability with the higher prices if you haven’t changed those lately.    Remember common sense on fires:   Keep machines clean and free of dust, Good maintenance of equipment, be aware of weather conditions as you harvest,   if they are bad, stay out of field……Remember last harvest.   There was something new this year that I have not seen before…..Climate Insurance…NOT based on your acres or conditions on your farm…..Based on the NWS reporting stations closest to you……..Perils….Too much rain during planting, Depleted soil moisture during pollination and filling periods, daytime heat stress, nighttime heat stress, Excess rain and Low heat units or freezing…..Interesting concept.   

BE SURE TO MAKE AN APPOINTMENT WITH one of our insurance staff.

Questions call TSB at Forest City, Thompson, and Titonka 

Remember that you should deal with people in community banks and organizations that when they put something together for you that they will be sitting with them at ball games, church or community events.  So, if in doubt give us a call.