Crop Insurance 101: Hail Plan Comparison

Crop-Hail insurance, coverage against physical damage from hail, is available through a variety of private products. These policies provide coverage on an acre-by-acre basis which means damage to only one part of the field may be eligible for payment.

Below are the highlights of some policies to consider.

Crop-Fire

• Coverage for direct loss caused by fire or lightning.
• Can supplement MPCI or be stand-alone.

Basic Hail

• No deductible.
• Coverage up to the actual cash value of the insured crop.

Deductible Hail

• Multiple percentage deductible options are available.
• A percentage deductible applies before loss triggers a payment.

Companion Hail

• Deductible options from 0% to 15%.
• Coverage options available to increase payment.

Production Plan Hail

• Coverage provided on a unit basis.
• Coverage based on Actual Production History (APH).

Chelsea Heatherington, Farm & Ag Specialist

Call or Text: 515-302-8400

Email: chelsea@kingsgateins.com

References:

https://www.extension.iastate.edu/

https://www.rma.usda.gov/