Koepke Insurance is open!! We will be practicing social distancing here in the office, which means staying 6 feet apart. We ask that if you are not feeling well to stay at home. We do encourage you to call one of our agents if you have any questions. Most of your questions can be handled over the phone. Thank you for your understanding.
COVID-19 Deferral of Interest Charges for 2020 only
***AIPs (Approved Insurance Provider) are authorized to provide additional time for policyholders to make payment of premium and administrative fees. Interest accrual on premium payments and administrative fees, as noted above, will be waived to the earliest of an additional 60 days of the scheduled payment due date or the termination date on policies with premium billing dates between August 1, 2020, and September 30, 2020. AIPs(Approved Insurance Provider) will begin to accrue interest after this additional period for unpaid premium and administrative fees.
During our 2021 sales season protocols are in place to keep our insured and employees safe. We can see you in person, at your home or our office. Appointments also available by phone or virtually. Sales closing is March 15, 2021.
There is now a quality loss option available. The Quality Loss option (QL) will allow an insured to replace actual yields based on post-quality production in their APH database(s) with actual yields based on pre-quality total production. This replacement only applies when a notice of loss was timely filed, regardless of whether an indemnity payment occurred, and when the crop had quality-adjusted production.
The Quality Loss option is Available for Yield Protection, Revenue Protection, Revenue Protection with Harvest Price Exclusion and APH plans of insurance. QL is available for barley, corn, malting barley, oats, soybeans, and wheat.
You must elect QL by sales closing on a crop and county basis and on a APH database and crop year by production reporting date.
QL can apply to prior crop years with quality losses, with supporting documentation, in the current year’s APH databases.
See your agent for more information.
ECO is a crop insurance option that provides additional area-based coverage for a portion of the underlying crop insurance policy deductible, enhancing your total coverage.
ECO is an endorsement and must be purchased with any of the following policies, Yield Protection, Revenue Protection, Revenue Protection with Harvest Price Exclusion.
ECO offers a choice of 90 or 95 percent trigger levels, and pays a loss on a area basis. An indemnity is triggered when there is a decrease in the county level yield or revenue.
The ECO option follows the coverage of your underlying policy. If you choose a yield based policy then ECO covers yield loss. If you choose a Revenue Protection policy, the ECO covers revenue losses.
You can read more about ECO in the Ohio Country Journal/Ohio Ag Net at: https://ocj.com/2021/01/the-new-enhanced-coverage-option-eco-crop-insurance-program/
ECO is available for many crops including corn, soybeans and wheat. Call our office for more information.
The late plant period for corn has been shortened from 25 days to 20 days. After June 5th your guarantee decreases by 1% per day until June 20th.
What is RAMP?
Ramp is a new product that allows producers the opportunity to boost revenues at specific risk levels within their risk management plans.
How Does RAMP work?
RAMP supplements the insured’s MPCI coverage and is designed to help provide additional coverage when production and/or revenue losses are just over or under an insured’s MPCI guarantee.
RAMP is available in a yield plan that pays based on where the production to count (harvested bushels) falls within or below the selected coverage band.
RAMP is also available in a revenue plan that pays based on where the harvest revenue falls within or below the selected coverage band.
Contact our agents for more information on how RAMP can benefit your farming operation.
In order to receive premium assistance from the federal government for crop insurance, producers will have to comply with the highly erodible land and wetland conservation requirements that most already have to comply with as a result of participating in FSA and NRCS programs.
To comply, producers must fill out and sign form AD-1026. If you have not already completed and submitted this for to the USDA, go to the USDA Service Center (Farm Service Agency) and file form AD-1026 certifying compliance. The FSA and NRCS will communicate any additional actions that may be required for compliance.
Producers who do not comply with conservation compliance can still purchase crop insurance, however, they will no longer be eligible to receive the government paid premium subsidy.
Contact your local FSA/NRCS for more details.
Beginning farmers and ranchers are eligible for certain benefits designed to help you as you start your operations.
To be a beginning farmer (BFR) for crop insurance purposes, an individual must not have actively operated and managed a farm or ranch in any county, in any state, with an insurable interest in a crop or livestock as an owner-operator, landlord, tenant, or sharecropper for more than five crop years, excluding any crop year the BFR was under the age of 18, in post secondary studies or on active duty in the U.S. Military.
Contact a Koepke Insurance Agent for more information.