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Crop farming is a business and because of the dependence on weather and other factors, it is a very risky business. There are a variety of insurance coverages available to farmers, but Multi Peril Crop Insurance is designed to protect farmers against the risks of crop failures by protecting a percentage of the farmer's anticipated yields. Multi-Peril Crop Insurance (MPCI) covers most of the crops grown in the county and the farmer chooses the level of coverage. USDA subsidizes crop Insurance Premiums so the costs are not prohibitive. The Federal Crop Insurance Corporation administers the MPCI program so the coverages available will be the same from agency to agency.
Hail insurance is also available during certain times of the year. There are a wide variety of policies available with many deductibles and rates are determined by the crop being grown and the township and range where the crop is located.
The sales closing date for spring-seeded crops is March 15, 2006.
Faye Krumwiede
VP/Ag Loan Officer, Union State Bank
phone: 701-748-2233
email: faye@usbhazen.com
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Faye Krumwiede
Faye grew up on a beef, dairy and grain farm in South Central ND. She attended Jamestown Collage were she earned her degree.
Faye has worked in Ag Finance for over 25 years and in the Crop Insurance field for over 18 years.
She has been the Chairperson for the NDBA Ag Committee since 2005. Faye also presently serves on the Hazen Public Library Board of Trustees, is the Chairperson of the Finance Committee for St. Martin's Catholic Church. Secretary-Treasure of the Hazen Concert Series and also is a member of the Mercer County Marketing Club and Mercer County Crop Improvement Association.
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