Crop Insurance Deadline Nears in Maryland

RALEIGH, N.C., Jan. 14, 2016 - USDA’s Risk Management Agency (RMA) reminds Maryland potato growers the final date to apply for crop insurance coverage is January 31. Current policyholders who wish to make changes to their existing coverage also have until the January 31 sales closing date to do so.

Crop insurance provides protection against a loss in potato production due to natural perils, such as drought or excessive moisture. Coverage is available for potatoes in Kent, Queen Anne’s, and Worcester counties. The price election is the season average price RMA expects growers to receive for their crop in the upcoming insurance year. The price election is used to establish the overall liability of the policy. It also affects the premium paid, and is used to evaluate any indemnities. The 2016 price election for potato coverage is $12.85 per hundredweight in Kent and Queen Anne’s counties and $14.55 per hundredweight in Worcester County.

Potato growers’ coverage amounts are determined from their actual yields and the protection levels they choose. Potato growers are encouraged to consider making crop insurance an essential part of their overall risk management plan to help protect their operations from financial loss.

Potato growers are encouraged to visit their crop insurance agent soon to learn specific details for the 2016 crop year. Crop insurance is sold and delivered solely through private crop insurance agents. A list of crop insurance agents is available at all USDA Service Centers and online at the RMA Agent Locator. Potato growers can use the RMA Cost Estimator to get a premium amount estimate of their insurance needs online. Learn more about crop insurance and the modern farm safety net at the RMA website.