The devastation left in the wake of a hail storm can be partial or total. Regardless of the amount of damage, it’s always expensive and all of the good farming practices in the world won’t prevent it. Crop Hail Insurance coverage gives you acre-by-acre protection up to the actual cash value of your crop, thereby protecting your investment and your future.
How do I Decide on What Crop Hail Coverage to Buy?
Hail is one catastrophe that is most likely to totally destroy a part of your crop and leave the rest undamaged. The acres and loss of crop yield caused by hail damage may be less than the deductible of your federal crop insurance policy or it may not lower your yield enough for a revenue protection insurance policy to protect your profits. Crop hail insurance coverage can fill that gap.
While federal crop policies protect you against losses severe enough to significantly drop the yield per insured unit, crop hail insurance gives you acre-by-acre protection that can be up to the actual cash value of the crop. Crop hail is especially important to those with area plan policies, like ARP, ARP-HPE, or AYP, which leaves individuals exposed to spot losses due to hail.
You can also buy additional crop hail insurance coverage during the growing season (prior to damage) to protect added profit potential from bumper crop yields or high-than-normal crop values. Even if your frequency of hail damage is low, remember that crop hail coverage is rated for your area and there are a variety of deductibles to meet your budget. It is an inexpensive way to protect against hail damage.
Benefits of Purchasing Crop Hail Coverage
The benefits of crop hail insurance include:
- Protects profits
- Helps shelter pre-harvest crop sales
- Protect crops up to the full cash value
- Acre-by-acre coverage provides protection from isolated damage
- May be used as loan collateral
How Crop Hail Insurance Works
Your trusted ProAg agent works with you to design crop hail coverage to fit your risk management strategy and flexible deductibles allow you to tailor the cost of your crop hail policy to meet your budget.
Your crop hail insurance policy may also provide coverage for perils other than hail. In many areas, basic crop hail coverage includes:
- Fire and lightning
- Reimbursement of replanting costs
- Carry over coverage
- Stored grain coverage
- Plan Availability
ProAg offers a range of crop-hail plans, from Basic Hail to a variety of Companion Plans that are specific to each state. Not all plans are available in all states; however, ProAg has tailored the plans to meet the needs of insureds in each state and region. By working with your trusted ProAg agent, you can determine which available plan will best meet your risk management needs for the current insurance year.