If you plant genetically-modified corn hybrids you may qualify for reduced crop insurance premiums due to changes in the 2009 Federal crop insurance program. The changes have been approved by USDA's Risk Management Agency. Now, even more biotech corn hybrids are eligible than before.

The Biotechnology Endorsement portion of the 2009 Federal crop insurance program has been expanded. In 2008 it was only available in Iowa, Illinois, Indiana and Minnesota, but this year farmers in several other Corn Belt states, including Nebraska and South Dakota can qualify for the discount, too. Triple-stack genetics from Monsanto, Pioneer Hi-Bred and Syngenta have been added to the qualifying list of covered hybrids.

Key requirements farmers need to consider

"The program is still very new and there are some key requirements that farmers need to consider," says Wayne Vontz, vice president of insurance for Farm Credit Services of America. "For example, producers must purchase an individual yield or revenue insurance plan (APH, RA, or CRC) at a buy-up level of coverage, and plant at least 75% of their corn acres on an insured unit to a corn hybrid containing qualifying triple-stack genetics. And, producers are still subject to current EPA refuge planting requirements."

The Biotech Yield Endorsement can save you $2 to $5 an acre in reduced premium. Why the range? It depends on your unit structure. To get that rebate you certify you planted a qualifying hybrid. You don't have to make your hybrid selection by the March 16 closing date to buy crop insurance. Rather, you must notify your agent before the planted acreage reporting date of June 30 that you planted the eligible hybrid. You use your sales receipts to verify it.

March 16 is deadline to buy crop insurance

The list of crops that can be covered with crop insurance for 2009 is lengthy. In Iowa, Nebraska and South Dakota, the key crops other than corn are small grains such as oats and spring wheat, forage, soybeans and grain sorghum. "There are some variations that depend on the county in which you farm. It's best to check with your local Farm Credit Services of America office for details on coverage for these crops as well as other specialty crops," says Vontz.

He notes "March 16 is the deadline for binding coverage. But don't wait until then to buy insurance. Contact your crop insurance agent today and set up an appointment. There are a lot of changes to this year's policies and programs being offered. You want to think you crop insurance decision through and make sure you get the right kind of coverage for your farming operation."

Farmers can learn more about the changes in coverage for 2009 and coverage options by calling the nearest FCSAmerica office at 1-800-884-FARM.