What happens to the return of premium if damage is not reported within the required time frame?

When damage is not reported within the required time frame, the return of premium is forfeited. This is because crop insurance policies typically have specific deadlines by which damage must be reported in order for policyholders to be eligible for any return of premium or claims. If the insured fails to notify the insurer within this timeframe, they lose their entitlement to the coverage benefits associated with that premium, as timely reporting is crucial for the insurer to assess and process claims appropriately. Therefore, forfeiting the premium is a part of maintaining the integrity and effectiveness of the policy system, ensuring that all parties adhere to agreed-upon timelines and procedures.