Premium Accounting & Billing Update
Late fees will be charged on any unpaid premium beginning on October 1st. After that time, payments are applied as follows: A. any unpaid finance or interest charge, B. unpaid administrative fees, and C. unpaid premiums. Please keep in mind that accrued interest on uncollected premium is attached, according with the terms of the Standard Reinsurance Agreement, and cannot be waived by the agent or AIP. Payment is due regardless of whether or not you have an outstanding claim. If you cannot pay your premium before the March 15th Debt Termination Date, contact the AIP directly to set up a payment plan. Otherwise, you will not be eligible for crop insurance or any other federally subsidized programs.
Receive a Free Review of Your Crop Insurance Policy at Great Lakes Crop Summit
The past few years has seen many new options offered that can be added to your multi-peril policy. Supplemental Coverage Option (SCO) and Enhanced Coverage Option (ECO) can be added to your policy to increase your total coverage levels and acre income guarantees. Sometimes at a premium cost that is less than buying up your regular policy coverage level. Your GreenStone crop insurance specialist has the tools to show you what options are available to evaluate the best options to maximize your coverage at a cost that fits your budget. Give them a call to set up an appointment.
Early/Late Plant Dates
Early and late plant dates may have changed and vary by location within the State. Be sure to contact your GreenStone crop insurance specialist to get the specific dates for your area. It is important to note that crop acreage planted before the early plant date is not eligible for replant payments but will still be eligible for insurance coverage. The insurance guarantee is not impacted if producers follow good farming practices. Crops planted after the late plant date during the late plant period will also have reduced coverage.
Organic Crops
As a reminder, the USDA Risk Management Agency now requires all insured organic certified producers to provide a copy of their organic crop plan and organic certificate to their agent before the acreage reporting date.
New Multiple Peril Policy Options
Over the past few years many new options have become available that can be added to your multi-peril policy. Supplemental Coverage Option (SCO) and Enhanced Coverage Option (ECO) can be added to your policy to increase your total coverage levels and acre income guarantees, sometimes at a premium cost less than buying up your regular policy coverage level. Your crop insurance specialist has the tools to show you what options are available and the best options to maximize your coverage at a cost that fits your budget. Give them a call to set up an appointment.
Contract Price Addendum
The Risk Management Agency offers a contract price addendum that would allow a producer who receives a contract price for their crop to receive a crop insurance guarantee that is more reflective of the actual value of the crop. Under the addendum, insured producers would have the ability (where available and by choice) to use their personal contract price as their price election, or to use the existing crop insurance price election. If you grow specialty crops under contract and are interested in using your contract price to set your crop insurance guarantee, make sure to ask your crop insurance specialist about the new contract price addendum.
USDA Announces $12 Billion in Farmer Bridge Payments
On December 8, 2025, the USDA announced the scheduled release of $12 billion in one-time bridge payments for producers experiencing economic losses caused by high input costs, persistent inflation, and market distortions from foreign competitors. February 28, 2026 is the target for FBA payments to be released, with additional details expected to be forthcoming.
Key FBA elements:
- Payment rates will be commodity-specific, and payments will be made on planted acres
- Acres prevented from planting will not be included
- Acreage report required for eligibility
- AGI of less than $900,000
- Payment limit of $155,000 per person or legal entity
- Purchasing crop insurance in 2026 is not required
If you have any questions, please don’t hesitate to reach out to your crop insurance specialist!
Power of Attorney (POA) and Signatures
Crop insurance documents requiring a signature must be signed by an authorized person. The Crop Insurance Handbook says for a spouse or others to sign for the insured, they must be authorized by a POA or other legally sufficient document. Even if the person is listed as an Substantial Beneficial Interest (SBI) on the application. Signature statements on the Application or Policy Change Form can serve as a legally sufficient document. For specific details, please consult your crop insurance specialist.
Person Types & Identification Numbers
To better accommodate data reconciliation between the Farm Service Agency and Risk Management Agency, there have been some changes made to the social security number and employer identification reporting requirements for individuals, estates, and trusts. If you have recently made a change in how an entity has been set up, let your crop insurance specialist know and they will make sure your policy is renewed using the correct identifying numbers. These records need to be updated before the March 15th deadline.
Dry Bean Prevented Planting (PP) Coverage Level Changes
PP Coverage levels for dry beans has been reduced from 60% coverage down to 50%. Prevented planting coverage levels have changed for many other crops in recent years. See your agent for the most current levels and options for PP coverage.
To view the rest of the 2026 winter Partners articles please click here.
