Crop insurance billing date08/15/2012 - 08/24/2012
"Although premiums are payable as soon as the crop is planted, the policyholder will not be billed until the premium billing date," says William Edwards, economist for the Iowa State University Extension. Generally, this date falls near harvest. Interest charges begin to accrue 30 days after this date on any premium payments not yet paid, at the rate of 1.25 percent per month. If an indemnity payment or replanting payment is made, any premiums still owed will be deducted from these payments.