Assiter Insurance Agency LLC

120 West California Street, Floydada, Texas, 79235 - Phone 806 983-3322 or Cell 806 777-5577

To save your time, we provide a summary and more details for specific areas of interest. It is not intended for some statements to seem harsh due to brief direct facts. Please stop by or call for more information.

Document Summary:

1.      Spring Final Planting Dates and Acreage Report Deadline.

                        July 15th is Acreage Report Deadline date.

            Ghost Non Insurable Acres Must be Reported.

            Simplify reporting with worksheet available in our office.

                        Final Plant Dates.

                        Late planting period in effect.

2.      Fall Crop Production & Losses

Spring crop losses require attention for Fall loss notice.

End of Insurance Period for Wheat is October

3.      CRC Harvest Price for Wheat

Wheat CRC Price will track through the end of June. Currently 28-cents lower than base price. 

4.      Measurement & Maps.           

                   Draw corrections (new lines) on current maps and drop by our office.

5.      2005 Program Changes                                                                                                      

                        2005 changes for Crop Insurance show problems in Spring Crop losses.

Details

Acreage Report Date and Acreage Report Worksheets

Final Acreage Reports for Spring Crops are due by July 15. The best way to turn in acres is provide us the FSA Certification Form 578 with maps or use the Acreage Report Worksheets available in our office. The worksheet matches Farm Serial Number and Unit to previously planted APH databases. Please use the form to:

1.       Report acres & plant date

2.       Verify all farms (including new) are included and reported,

3.       Verify an Irrigated (02) or Non-irrigated (03) practice, if necessary write in practice

4.       Indicate all shareholders with share

Most producers using this form, save time and benefit from fewer mistakes. Please return on completion so we may fill in landlords Acreage Reports, then you can verify & sign prior to deadline.

Important 2005 Notice – Please revise Acreage Report if an original report was submitted for Cotton Loss Acres. All acres –Insured or Not Insured, 2^nd Crop or Ghost Acres – must be reported by final reporting date.

Plant Dates & Late Planting

Final Planting Dates for Cotton are (see late planting options below):

            June 5 for Floyd, Hale, Crosby, & Lubbock Counties

            May 31 for Swisher & Briscoe Counties

Final Planting Dates for Grain Sorghum are (see late planting options below):

            June 30 for Floyd, Hale, Crosby, Lubbock , &  Swisher Counties

Please contact our office for other crops.

Cotton has a 15 day late planting period.  Coverage is reduced by 1% for each day past the final plant date listed above. After the late planting period you may still plant and have a choice to:

1.       Insure the Crop at the Prevented Planting Level (60% of Coverage) or

2.       Choose not to insure.

Acres not insured still must be reported so production does not count against other insured acres. Uninsurable crops must be included on Acreage Report. Production from non insured acres can not be credited to APH databases.

If you plant after the late planting period, we need a revised acreage report.

Irrigation and Notes

It is very important too properly report Irrigated & Non Irrigated Acres. Irrigated practice losses due to lack of irrigation, heat, drought, etc. will not be paid. Practice may not be revised after Acreage Reporting Date.

Non Irrigated Spring Crops are Non Insurable behind Fall Crops that are Grazed, Hayed, or Harvested, unless Fall Crop is mechanically or chemically terminated by March 15^th.

Loss Reports and Production Reports

We have done a poor job of getting adjusters to inspect wheat due to the Cotton losses. Please remind us if adjusters have not contacted you regarding wheat appraisal.

Delayed Loss Reports can cost you and landlords if not timely reported. Please call in Loss Notice as soon as loss is evident and prior to end of insurance. Since CRC prices lowered, revenue losses may be payable.

Please make sure we receive ALL Wheat production for the 2005 Crop Year as units are completed. We need to verify losses for you and the landlord as some landlords have different levels.

Your elevator may fax production to 806-983-2510 if properly separated & identified.

CRC – Lower Harvest Prices Mean Increased Guarantees

Lower CRC prices are not simple enough to explain in this document. To summarize:

1.                   The CRC Harvest Price will continue to track until the end of this month.

2.                   For 2005 CRC the Wheat price reduced from $3.56 to an estimated $3.28.

3.                   Producers with early losses have already received the maximum $3.56 per bushel.

a.       CRC Producers with harvested production may have a revenue loss due lower price even if the production is above original guarantee.

Program Changes

For 2005 FCIC has forced Insurance Providers (Companies) to a new Reinsurance Contract. These changes made loss adjustments for this season very difficult. We suggest you call Plain Cotton Growers and your congressman to report the poor procedure. Please be careful how you word complaints. They feel agent involvement in the loss process is a conflict of interest.

Tim Assiter

Assiter Insurance Agency LLC

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Thank you for your business.