Precision Claims
With Precision Claims, your claim can be processed in a fraction of the time using the most accurate records,
resulting in a faster payment and hassle-free claim experience.
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Precision Claims
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What is a Precision Claim?
Precision Claims are crop insurance claims that are adjusted by utilizing the data recorded by your precision farming technology. They can be adjusted using only a few pieces of documentation and records from your farm management software, and take only a fraction of the time to complete.When combined with FMH's Automated Crop Reporting process for electronic acreage and production reporting, your crop insurance processes are faster and more seamless. Plus, when using precision data for crop insurance, you can have confidence that your data is accurate, consistent, and complete — resulting in the most fair loss payment.
What Are the Benefits of Using Your Precision Agriculture Data for Crop Insurance?
Efficient
Reporting acreage and production with precision data is more streamlined and reduces paperwork, saving you time.
Accurate
By using accurate data for crop insurance, you can be assured your liability is fully covered, reducing the rist of falling short at claim time.
Faster Claims
With more accurate data and fewer required documents, the time to validate a crop insurance claim is reduced, resulting in a faster claim payment.
What are the major differences of Traditional and Precision Crop Insurance Claims?
| Traditional Claim | Precision Claim | |
|---|---|---|
| Required Documents |
|
|
| Time to Complete Claim | With multiple records, documentation, and the adjuster's bin measurements, validating a claim could take hours to multiple days to complete. | With fewer documents and more accurate data, the time required to validate a claim is reduced to a fraction of the time of a traditional claim. |
| Data Organization | Multiple, manually-maintained documents leave room for human error or missing information. | No need to keep track of multiple record sources, eliminating simple errors that often happen using traditional methods. |
| Accuracy | Manual records and maps might include non-farmland acres such as ditches and waterways, potentially reducing the farmer's APH which can affect a field's coverage level, per-acre guarantee, and loss payment. | Precision farming systems document the exact area that is planted and harvested within a field using GPS. This provides more accurate, consistent, and complete data - which results in the most fair loss payment. |
| 3 Year Audits | A three-year review requires digging up years of paperwork, settlement sheets, and bin measurements. Not only can storage be challenging, it can be time-consuming to assemble for an audit. | A three-year review can be done more efficiently and take much less time using a precision planting map, harvest map, and calibration report. |
FMH has served America's farmers since 1893 with a combination of financial strength, personal service, and Midwestern values. Our company has been run by the same family for 125 years, which reflects in our company's strong, family-oriented way of doing business.
FMH provides Complete Farm Insurance Solutions™ and secures the financial future of farmers and mutuals with Federal and Private crop insurance, Farm & Ranch insurance, and Reinsurance products.
America’s Crop Insurance Company™
Learn more on FMH.com