We often get inquiries about a mailing from the crop insurance company reminding them about the availability of direct deposit for any claim payments. This is not a requirement, but with current changes being implemented by the U.S. Postal System we believe it could be valuable for producers to utilize the offered benefit.
According to recent news reports, USPS, in effort to cut spending, is making changes regarding the speed mail is delivered. A major part of this change will affect rural areas- any town outside of a 50 mile radius from a USPS processing facility. USPS will no longer be using a standard three- day delivery window, but rather a five day delivery window. While the extra days might seem like not a big deal, consider this past Labor Day weekend. If you were expecting a claim check that was processed on Friday, that check may not arrive to your mailbox until a week or more later due to the holiday. If you had direct deposit set up, then the check could have been in your account no later than Tuesday.
Setting up direct deposit is very simple, and we are happy to assist you in doing this. Depositing of funds is automatic once set up and good until you change or cancel it. The company will still mail out a summary of loss notifying you of the payment and all loss details itemized. The benefit is you will just have your money prior to this documentation arriving in your mailbox. Please call our office to set up direct deposit for your future claims.