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Coverages

Coverage

Effective Date of Policy is 12 o’clock noon on the day following the application being:

  • electronically transmitted (all application must be submitted via our Agent Portal)
  • faxed to our office (to bind coverage only, application must be submitted through our Agent Portal)
  • called to our answering service (to bind coverage only, application must be submitted through our Agent Portal)
  • postmarked at any post office
  • In all cases, applications must be mailed in within 24 hours.
  • All coverage expires on October 31st at 12 o’clock noon.

Last date for insuring – August 1st

Townships are subject to early cutoff due to Liability limits.

FIRE COVERAGE: This coverage applies to insured crops during the term of the policy as applicable to each item.

CUT CROP COVERAGE: All crops in the swath are insured against shatter (shell) damage caused only by hail, until the expiry date of the policy. All forage surcharge crops are excluded and coverage shall terminate on cutting.

LIABILITY LIMIT

Minimum Limit Per Acre $50 per legal land description

Maximum Limit Per Acre $400 per legal land description

Harvest Allowance When a crop loss reaches or exceeds 85% a harvest allowance of 15% is paid to increase the award to 100%. (Final award may be different for deductible policies.)

2022 Insurable Crops

Note: New – indicates Surcharge changes this year.

Mixed crops are always rated according to the crop which is subject to the highest level of charge.

Alfalfa & Clover for Seed: Should the crop be hailed prior to seed setting, the crop will be adjusted as a forage crop with damage being assessed on branch and plant loss. The coverage for forage shall be pro-rated to each cutting. Insurance coverage is for plant loss or damage only, not seed quality.

All crops (except Forage) are insured in the swath against shatter (shell) damage caused only by hail, until the expiry date of the policy.

Basic RateBarley, Canary Seed, Canola, Corn, Flax/Linola, Kamut, Mixed Grain
Oats, Potatoes, Rye (Fall or Spring), Safflower, Sorghum, Speltz
Sugar Beets, Sunflower, Sunola, Sunwheat, Triticale
Forage Crops – Fodder (Liability shall be pro-rata on each cutting)

Wheat – all varieties

1.2 Times Basic Rate
1.3 Times Basic RateSoybeans
1.5 Times Basic RateLentils
1.75 Times Basic Rate Beans (all other dry edible varieties)
2 Times Basic RateCaraway, Coriander, Dill, Mint, Peas, Spices
2.5 Times Basic RateBorage Buckwheat Chick Peas Hemp
2.75 Times Basic RateMustard
3 Times Basic RateAlfalfa/Clover (for seed) Grasses (for seed) Timothy (for seed)

Deductibles

Co-operative Hail provides three types of coverage to the producer. A full cover policy and two deductible policies are available. A deductible policy works just like your home or farm policy. You evaluate how much risk you as a producer can sustain. The higher the deductible you accept the less cost to your premium. Please remember deductible policies provide a lesser coverage.

10% Straight Deductible

Cost factor 70% of Basic Rate

**(This replaces the previous 10% Increasing Payment Option)**

  • No loss payments are made for loss percentages less than 10%.
  • When the loss is greater than 10%, the percentage payable shall be the percentage of loss minus the 10% deductible.
  • Maximum payment under this option is 90%
Loss PercentageDeductibleLoss Payable
10%-100%
15%-105%
25%-1015%
50%-1040%
75%-1065%
85+%+ harvest allowance (15%) -1090%

25% Straight Deductible

Cost factor 50% of Basic Rate

  • No loss payments are made for loss percentages less than 25%.

  • When the loss is greater than 25%, the percentage payable shall be the percentage of loss minus the 25% deductible.

  • Maximum payment under this option is 75%

Loss PercentageDeductibleLoss Payable
10%-250%
25%-250%
50%-2525%
75%-2550%
85+%+harvest allowance (15%) – 2575%

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