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This program provides the grower protection
against any yield reduction caused by hail and/or fire. Other
coverages provided include fire department service charges,
transit coverage to the first place of storage, catastrophe
loss award (most coverages) and replanting coverage (most
crops). The grower may elect to insure up to the full value
of the crop. There are various deductibles available to allow
the grower to partially self-insure for a reduced premium
cost.
Click each insurance type below to discover
more about it.
APH HAIL PRODUCTION PLAN
This policy places hail coverage on the
portion of a producer's crop that is above the multi-peril
guarantee. Since it only places coverage on the portion of
the crop not covered by the multi-peril policy, it eliminates
'double-coverage' on the 'bottom' of a producer's crop, as
is common with other crop hail policies.
To be eligible for an HPP crop hail policy,
the producer must have active additional coverage level APH,
CRC or RA multi-peril insurance. Coverage must be at the 65-85%
level. The multi-peril policy is required to have at least
four years of actual production history for the crop in the
county. Coverage is available on corn, soybeans and wheat.
Corn and soybeans can be insured at up to 115% of the producers
APH, with wheat insurable up to 100%.
There are several key differences between
the APH Hail plan and traditional crop hail insurance. Since
indemnities are paid on a unit basis and calculated based
on production to count, producers will not receive a settlement
check until after the crop is harvested or appraised or until
the expiration of insurance. With partial losses, payment
will not be made until after the crop is harvested. Also,
with the hail production plan, there is a 5% hail loss minimum
that must be met before any loss is paid.
As with all crop insurance, your individual
risk tolerance and grain marketing strategy must be taken
into consideration when choosing your crop coverage.
FULL COVERAGE
A policy that gives the insured a payment
that equals the percent of loss multiplied by the insured
value per acre.
Catastrophe
The catastrophe allowance will apply to
all losses that exceed 70% of the particular acre or acres
of crops, and is figured at a rate of .5% for every 1% of
loss exceeding 70%. In no event shall the total payment per
acre exceed the amount of insurance applying.
DEDUCTIBLE POLICIES
Combination Deductible
- A policy in which a 10% deductible and full coverage policy
are built into one. One-half the coverage will be at full
and one-half the coverage will be at the 10% deductible. At
50%, the deductible disappears and the policy becomes full
coverage.
Catastrophe
The catastrophe allowance will apply to
all losses that exceed 70% of the particular acre or acres
of crops, and is figured at a rate of .5% for every 1% of
loss exceeding 70%. In no event shall the total payment per
acre exceed the amount of insurance applying.
DXS5
5% Deductible
– The Company shall have no liability for loss to any
acre of crop until loss or losses exceed 5%, and then the
Company shall have liability for 1.25 times the percent of
loss in excess of 5%, once the percent of loss equals or exceeds
25%, this provision no longer applies.
Catastrophe
The catastrophe allowance will apply to
all losses that exceed 70% of the particular acre or acres
of crops, and is figured at a rate of .5% for every 1% of
loss exceeding 70%. In no event shall the total payment per
acre exceed the amount of insurance applying.
DXS10
10% Deductible
– The Company shall have no liability for loss to any
acre of crop until loss or losses exceed 10%, and then the
Company shall have liability for 1.25 times the percent of
loss in excess of 10%, once the percent of loss equals or
exceeds 50%, this provision no longer applies.
Catastrophe
The catastrophe allowance will apply to
all losses that exceed 70% of the particular acre or acres
of crops, and is figured at a rate of .5% for every 1% of
loss exceeding 70%. In no event shall the total payment per
acre exceed the amount of insurance applying.
DDA
DDA Deductible
– The Company shall have no liability for loss to any
acre of crop until loss or losses exceed 10%, and then the
Company shall have liability for the percent of loss in excess
of 10%, except that when the percent of loss exceeds 20%,
the Company shall have an additional liability for 2.00 times
the percent of loss in excess of 20%. This provision does
not apply for losses greater than 25%.
Catastrophe
The catastrophe allowance will apply to
all losses that exceed 70% of the particular acre or acres
of crops, and is figured at a rate of .5% for every 1% of
loss exceeding 70%. In no event shall the total payment per
acre exceed the amount of insurance applying.
DDC
DDC Deductible
– The Company shall have no liability for loss to any
acre of crop until loss or losses exceed 30%, and then the
Company shall have liability for the percent of loss in excess
of 30%, except that when the percent of loss exceeds 40%,
the Company shall have an additional liability for 2.00 times
the percent of loss in excess of 40%. This provision does
not apply for losses greater than 55%.
Catastrophe
The catastrophe allowance will apply to
all losses that exceed 70% of the particular acre or acres
of crops, and is figured at a rate of .5% for every 1% of
loss exceeding 70%. In no event shall the total payment per
acre exceed the amount of insurance applying.
XS20IP
20% Deductible
– The Company shall have no liability for loss to any
acre of crop until loss or losses exceed 20%, and then the
Company shall have liability for 1.25 times the percent of
loss in excess of 20%.
XS15IP
The Company does not cover loss until the
percent of loss per acre exceeds 15%. The percentage per acre
then payable shall be the percent in excess of 15%. Once the
percent of loss exceeds 70%, an additional 1.5% shall be paid
for each percent in excess of 70%. The payable percentage
may not exceed 100%.
DXS20-70
DXS20-70 Deductible
– The Company shall have no liability for loss to any
acre of crop until loss or losses exceed 20%, and then the
Company shall have liability for 1.40 times the percent of
loss in excess of 20%, except that when the percent of loss
equals or exceeds 70%, this provision no longer applies.
Catastrophe
The catastrophe allowance will apply
to all losses that exceed 70% of the particular acre or acres
of crops, and is figured at a rate of .5% for every 1% of
loss exceeding 70%. In no event shall the total payment per
acre exceed the amount of insurance applying.
COMPANION POLICES
IP2
The Company shall have liability for loss
to any acre of crop until the loss or losses exceed 5%, and
then the Company shall only have liability for 2 times the
percent of loss in excess of 5% but in no event more than
100%.
Catastrophe
The catastrophe allowance does not apply.
IP2F
The Company shall have liability for loss
to any acre of crop until the loss or losses exceed 10%, and
then the Company shall only have liability for 2 times the
percent of loss in excess of 5% but in no event more than
100%.
Catastrophe
The catastrophe allowance does not apply.
IP2-10
The Company shall have no liability for
loss to any acre of crop until loss or losses exceed 10%,
and then the Company shall have liability for 2 times the
percent of loss in excess of 10% but in no event more than
100%.
Catastrophe
The catastrophe allowance does not apply.
IP2.5
The Company shall have no liability for
loss to any acre of crop until loss or losses exceed 15%,
and then the Company shall have liability for 2.50 times the
percent of loss in excess of 15% but in no event more than
100%.
Catastrophe
The catastrophe allowance does not apply.
IP3
The Company shall have no liability for
loss to any acre of crop until loss or losses exceed 5%, and
then the Company shall have liability for 3 times the percent
of loss in excess of 5% but in no event more than 100%.
Catastrophe
The catastrophe allowance does not apply.
IP3F
The Company shall have liability for loss
to any acre of crop until loss or losses exceed 7.5%, and
then the Company shall have liability for 3 times the percent
of loss in excess of 5% but in no event more than 100%.
Catastrophe
The catastrophe allowance does not apply.
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