Smith Boman & Associates

FAQ's

If I have an outstanding claim, is my premium still due?
Yes. Reporting a claim does not delay the Premium Due dates.

Can I have multiple prices/levels on a crop/county?
No. There is only one price/level allowed per crop/per county. The only exception is on a policy with a High Risk Land Exclusion where the insured takes out a CAT policy on the excluded High Risk acres.

What is this "administrative fee"?
The administrative fee is the amount the insured must pay for insurance coverage (in addition to the premium on limited and additional coverage, and in place of a premium for CAT coverage) each crop year. Neither the agent nor the companies keep any of this money. The fees are retained 100% by FCIC. Therefore, if a fee is not paid, FCIC will place the insured on the Ineligible Tracking List.