Crop Insurance

The London Tobacco Market offers LTM Crop Insurance for all crops, including tobacco, corn, soybeans and other farm crops. There are two types of insurance policies.

Multiple Peril Crop Insurance is an insurance policy designed to protect tobacco growers and row crop producers from a crop loss. The policy is written to provide a guarantee on your crop. The guarantee is calculated based upon the actual production history of your crop. Multiple Peril Crop Insurance covers most all insurable causes of loss, and are stated in the policy provisions of each policy. Examples of insurable causes of loss are:

Deadlines for Coverage & Payments

The deadline to sign up for Multiple Peril Crop Insurance is March 15. Your tobacco crop must be set by July 1 and your crop report is due July 15th in order for your insurance to be effective. Corn and soybean crops my be signed up by March 15.

Payment for crop insurance is due January 1 after the growing season, so payment for crop insurance can be taken out of your tobacco check when your crop sells.

Levels of Coverage

You can purchase different levels of coverage under the Multiple Peril Crop Insurance Policy. Each level of coverage provides an additional level of guarantee on your crop. Contact us for the crop insurance rates in your county. Anyone who borrows money to grow a crop needs to have enough insurance to cover their borrowed money at the end of the year.

Important Crop Insurance Dates

Description of Dates Tobacco Corn Soybean Wheat
Extended Sales Closing Date 3/15 3/15 3/15 9/30
Production Report Due 4/29 4/29 4/29 11/14
Earliest Plant Date - 4/01 4/16 -
Final Plant Date 6/20 5/31 6/15 11/15
End of Late Plant Date 7/05 7/05 7/05 -
Acreage Report Due 7/15 7/15 7/15 11/30
Premium Due 1/01 8/15 8/15 7/01
End of Insurance Period 2/28 12/10 12/10 7/31
Last Date to Report Damage 3/15 12/25 12/25 8/15
Policy Termination Date for Non-Payment 3/15 3/15 3/15 9/30
Cancellation Date 3/15 3/15 3/15 9/30

Other Coverage Types

London Tobacco Market Crop Insurance also sells Crop-Hail insurance. This coverage can be purchased any time during the year, after the crop is set. The only requirement is there cannot be a claim within the first 48 hours after the policy is bought.

This policy, plus optional endorsements, can cover the following perils on harvested or un-harvested crops:

  • Wind
  • Hail
  • Fire & Lightening
  • Theft

Payment on Crop-Hail insurance is due the middle of October.


If you would like a policy quote or need help with your current policy, please call and we will be glad to help you.

If you have a crop insurance policy now, but would rather London Tobacco Market take care of it, just give us a call and we will be glad to handle the transfer for you.