Hail insurance refund for Montana farmers
The State Board of Hail Insurance approved refunds for Montana farmers after reviewing a report at its annual meeting.
Montana farmers who purchased State Hail Insurance this year will be getting a refund of 40% of the premiums they paid. The Montana Department of Agriculture issued more than 1,900 hail insurance policies covering nearly 2,000,000 acres during 2012. Director of Agriculture Ron De Yong says the amount farmers get back varies each year.
De Yong says, "Last year they got 25% back. This year they got 40% back and it depends on how much hail we get. As long as we maintain a strong program, we'll give as big a refund back as we can."
The State Insurance Program is designed to cover planting costs. Many producers increase their protection through additional insurance from private carriers.
Story by Charlie Misra, Beartooth NBC.
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