The final plant date for Iowa corn is May 31st (soybeans June 15th).
If you have not planted by the final plant date, you need to notify your crop insurance agent within 72 hours if you don’t intend to plant during the late plant period. The prevent plant corn payment factor is 55% of your guarantee (soybeans 60%). In most cases, the maximum number of eligible acres for prevent plant is the maximum number of insured acres reported for the crop in any one of the four most recent crop years. If you have added land or no history in the county, other rules will apply. On the flip side, to receive a prevent plant payment, at least 20 acres or 20% of the insurable crop acreage in the unit needs to be prevented from planting. Remember prevent plant is eligible only if you are prevented from planting due to an insured cause of loss.
If you want to plant after the final plant date, you will take a reduction in guarantee. The late plant period ends on June 25th for corn (July 10th for soybeans). During the late plant period, you lose 1% of your guarantee per day until the crop is planted. Coverage after 25 days of the late plant period will be 55% of your insurance guarantee for timely planted acreage (soybeans 60%).