Connealy Insurance Newsletter|December 1, 2024 |

Serving Nebraska, Iowa & South Dakota farmers, ranchers, homeowners, commercial, business & auto lines & their families since 1986.

Reminder that if you think you have a loss, you must have your production in and a claim submitted by December 15.

Optional Top Half Products:

While the price is not where we want it to be this fall, there are coverage options for the 2025 crop year to lock in pricing today. These plans are based upon a number of available policies in the coverage area. Some examples of these policies are:

Rev D, GAP, MPower D, APO, and RPO

If you would like to learn more or have questions, please reach out.

Livestock Risk Protection:

There has been a halt of Mexican cattle imports after discovering the new world screw worm, found in Mexico near the Guatemalan border. This has caused feeder cattle to surge to their highest level since July on Monday. They predict imports will be restricted for the next month limiting the supply of feeder cattle.

Prices 11/27/24:

Feeder cattle wt class 1- ended at $283.47

Feeder cattle wt class 2- ended at $257.70

Heifers wt class 1- $257.70

Heifers wt class 2- $231.93

Unborn steers and heifers- $270.58

Information needed to have a policy written and/or to quote are: type (fed, feeder, unborn, etc.); effective date; end date; number of head covered; coverage level; insured share.

Crop Farm Bill Updates:

The Farm Bill, which expired at the end of September, must be reauthorized or extended by January 1 to avoid a slate of sharp consequences related to commodity pricing. At this point, an extension seems like the outcome, though hope remains for a Christmas miracle – we should know more on the fate of the Farm Bill in the coming weeks. On the bright side for the ag economy, I continue to hear positive things about negotiations over disaster relief for farmers that could offset some of the incredible challenges facing the industry as Congress continues to work on a longer-term Farm Bill. In my last update, I highlighted two packages introduced by Representatives Valadao (CA) and Kelly (MS) that illustrated two different mechanisms being discussed to administer that assistance – different needs and approaches that could be applied to this situation. (RCIS update, November 11, 2024).

Farm Act:

I have not heard anything new these past few weeks on the possibility of the farm act. Below are a couple of articles that we have came across.

Congressman Valadao Introduces Supplemental Appropriations Bill to Assist Ag Producers Impacted by Natural Disasters | U.S. Congressman David Valadao

Kelly Introduces Bipartisan Farmer Assistance and Revenue Mitigation Act of 2024 (FARM Act) : Congressman Trent Kelly

FSA Updates:

Washington and Burt Counties are eligible for Emergency Loans following presidential disaster Declaration:

Washington County was declared a primary disaster and Burt County a contiguous disaster due to severe storms, straight-line winds, tornadoes and flooding that occurred between June 20 and July 8, 2024. Under this designation, if you have operations in any primary or contiguous county, you are eligible to apply for low interest emergency loans.

For more information about Washington and Burt County emergency loans, contact the local Farm Loan Office in Dodge County at 402-721-8455, or the local Farm Loan Office in Wayne County at 402-375-2453 or visit fsa.usda.gov. (Burt County FSA Newsletter November, 2024).

Cover Crop Programs:

We have gotten some inquiries regarding cover crop programs with incentives for producers. From some research and talking with the local NRD we have found the following:

• NRD- Depending on what area you are in, there are programs available such as the EQUIP. The deadline for rankings is November 15 each year however you can apply at the NRD anytime. They will guide you on what programs, etc. you could qualify for. Apply for Environmental Quality Incentives Program (EQIP) | Natural Resources Conservation Service
• Cargil and local co-ops have programs available that are specific to them/
• Practical Farmers of Iowa- Has a program available that provides payments to those who grow cover crops in NE as well. Home - Practical Farmers of Iowa (practicalfarmers.org)

P & C Update:

Things are beginning to stabilize more on the P&C side but we are continuing to see rate increases for homes with all policy holders and with all companies. With each renewal, we do our best to look at your coverage, options and needs.

Auto

A recent discussion was had regarding paying out of pocket for a small auto claim vs. turning it in for insurance. While paying out of pocket for the damage is your decision, we want to inform you that in the event that anyone was injured in the accident, that makes you liable for further damage/injury. Once you pay out of pocket for damage, that automatically admits fault for that accident. We recommend that if there is any bodily injury or possibility of bodily injury, file a claim. Be mindful of this in the future and contact us with any questions.

Home

Water damage claims: The number 3 cause of loss to a home. The average water damage loss involves 5 figures in damages, according to ISO. Most property damage policies cover a plumbing system leak as long as the damage has not occurred over a period of weeks, months, or years.

Another common occurrence is backup and/or overflow. Virtually all property policies exclude backup of sewers or drains but overflows are treated differently by some policies. If you have any questions, please let us know. Each carrier has different language on coverages. (The insurance journal, 2024)

Farm/Business:

With winter coming, there is an endorsement (winter peril coverage) that you can add to your farm owner policy. This covers your livestock in the event that they freeze or smother in a winter storm.

Health:

Open enrollment is November 1- January 15 for marketplace. Medicare open enrollment is October 15- December 7th.

Life:

45% of those who do not have life insurance coverage say cost was a reason why they haven't purchased a policy. The average monthly cost for a healthy 30-year-old to get a 20-year $250,000 term life insurance policy is around $15/month. (The Big I Independent Agent, November 2024)

Joke(s) of the Month

What do you get if you eat Christmas decorations?

-Tinsil-litis

What do Santas helpers learn at school?

-The Elfabet

Fantasy Fudge

Ingredients

• 3 cups white sugar
• ¾ cup butter or margarine
• ⅔ cup evaporated milk 
• 1 (12 ounce) bag semisweet chocolate chips
• 1 (7 ounce) jar marshmallow creme
• 1 cup chopped walnuts
• 1 teaspoon vanilla extract

Steps:

1. Gather all ingredients
2. Grease 13x9 pan
3. Mix sugar, butter, and evaporated milk in a large, heavy saucepan over medium heat, stirring to dissolve sugar. Bring mixture to a full boil and cook for 5 minutes, stirring constantly.
4. Remove from the heat and add chocolate chips; stir until chocolate chips are melted and mixture is thoroughly combined.
5. Stir in marshmallow creme until incorporated. Mix in walnuts and vanilla.
6. Transfer fudge to the prepared pan and use an offset spatula to spread out and flatten.
7. Let cool for at least 1 hour before cutting into squares. Enjoy!

Office News

We had a great ladies night out on November 24th in downtown Tekamah. It is always great to see everyone come together. Thank you to Cindy Chatt for putting this together for our communities.

Thank you to those who have submitted their arial photos! We would love to display your arial farm photos on our walls at Connealy Insurance. If you have a photo of your farm, you can email it to kiley@morethancrop.com, or stop by and we can make a copy.