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Crop Hail Insurance
Crop Hail coverage helps you make sound
business decisions. EGI can insure your crops up to actual cash
value protecting your investment and your profit. Our Crop-Hail coverage is
flexible and endorsements are available to fit your protection needs. Contact
one of our agents for a quote. Deductibles vary widely throughout the country.
The use and availability of these deductibles depend upon the state, crop
and plan type.
Crop Hail Endorsements
The
following coverage items are endorsements to the Crop Hail policy. The
availability of these endorsements are subject to the filing in effect for
the state, crop, coverage and crop year. See your EGI agent for
details.
- Wind
- Windshatter (Wheat & Barley)
- Replant Option
- Grain Guard
- Escalator Deletion (Cotton)
- Open Boll (Cotton)
- Replant Deletion Option (Soybean)
Deductible Options
Basic – Full
coverage – No Deductible
XS5 – Applies once the percent of loss exceeds 5%, remains as 5%
DXS5 – Applies once the percent of loss exceeds 5%, decreases
incrementally, disappears at 25%
XS5IP - Applies once the percent of loss
exceeds 5%, remains as 5% until loss exceeds85% then,
deductible is reduced
by 1% for each percent above 85% disappearing at 90%
DXS10– Applies once the
percent of loss exceeds 10%, decreases incrementally, disappears at 50%
XS10
- Applies once the percent of loss exceeds 10%, remains as 10%
XS10IP –
Applies once the percent of loss exceeds 10%, remains as 10% until loss
exceeds 70% then,
deductible is reduced by 1% for each percent above 70%
disappearing at 80%
XS15 – Applies once the percent of loss exceeds 15%,
remains as 15%
XS15IP - Applies once the percent of loss exceeds 15%, remains
as 15% until loss exceeds 70% then,
deductible is reduced by 1% for each
percent above 70% disappearing at 85%
Tonnage – (Sugar Beets)
DDA –
Applies once the percent of loss exceeds 10%, decreases incrementally,
disappears at 25%
DDB – Applies once the percent of loss exceeds 20%,
decreases incrementally, disappears at 40%
DDC – Applies once the percent of
loss exceeds 30%, decreases incrementally, disappears at 55%
Companion Hail
provides coverage to insure the unprotected portion of your crop when you have
an underlying MPCI policy. In the event of loss, this coverage plan will be
paid out before the severity of loss would create a payment under the MPCI
policy. To accomplish this, an increasing payment factor is used to achieve
payout. For example, if the underlying MPCI policy has 65% coverage you have
35% or approximately 1/3 of the crop unprotected. Purchasing this coverage
in an amount equal to 1/3 of the crop value with an increasing payment factor
of 3 accomplishes the needed total coverage.
X5 IP2 – Applies once the
percent of loss exceeds 5% then, apply the remainder loss percent by the
increasing payment factor of 2
X5 IP3 – Applies once the percent of loss
exceeds 5% then, apply the remainder loss percent by the increasing payment
factor of 3
X5 IP4- Applies once the percent of loss exceeds 5% then, apply
the remainder loss percent by the increasing payment factor of 4
Note: All coverages described in this site are summarized and subject to the terms,
conditions and exclusions in the policy. Please refer to the policy for
specifics. All coverages are subject to state law which may vary from the
stated information.
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