USDA has extended crop insurance payment deadlines and deferred interest accrual for farmers through Approved Insurance Providers (AIPs) due to COVID-19 impact.
Specifically, USDA has authorized AIPs to provide policyholders additional time to pay premium and administrative fees. Accrual of interest will be waived to the earlier of 60 days after their scheduled payment due date or the termination date on policies with premium billing dates between Aug. 1 and Sept. 30.
“USDA recognizes farmers and ranchers have been severely affected by the COVID-19 Pandemic this year and to help ease the burden on these folks, we are continuing to extend flexibility for producers,” said U.S. Secretary of Agriculture Sonny Perdue. “The flexibilities announced today support health and safety while also ensuring the Federal crop insurance program continues to serve as a vital risk management tool.”
USDA has further authorized AIPs to provide up to an additional 60 days for policyholders to make payment and waive additional interest for Written Payment Agreements due between Aug. 1 and Sept. 30.
Farmers with crop insurance questions or needs should continue to contact their insurance agents about conducting business remotely by telephone or email.