POLICY INFORMATION

Crop Hail Insurance Coverage

There are many key challenges facing agricultural producers today. Fluctuating grain prices, global warming and changing weather patterns, new and diverse choices in crops and varieties are but a few of these challenges.

Henderson Hail Agencies Ltd. seeks to meet the risk management needs for agricultural producers by providing crop hail insurance through a Henderson Hail Insurance Policy.

A Henderson Hail Insurance Policy can be structured to meet the crop, deductible, and coverage required by the producer at competitive rates. Henderson Hail provides our agent and brokers with fast, efficient, and accurate service to meet the needs of our clients.

Coverage’s provided:

  • Coverage provided for the perils of Hail and Fire (some restrictions apply, check with your agent for details)
  • Coverage available on most types of crops
  • Coverage ranges from $20 to $250 per acre
  • Coverage purchased up to the actual cash value of the crop
  • Cut Grain Coverage - most crops covered in the swath (some restrictions apply, check with your agent for details)

Liability and Rate Limits:

  • The company will limit its capacity in individual townships. Check with your agent for available capacity
  • We will not write any business, irrespective of policy form, below a 2% rate

Policy Period:

  • The policy is in effect from 12:00 noon the day following the date of application provided that:
    • the application is postmarked that day at any post office
    • the application is faxed to our office
    • the application is called in to our answering service
  • All policies expire and lapse on 12:00 noon of October 15th in the year of application, or upon harvest of the crop

Payment Options:

  • Cash payment in full, at time of purchase
  • Deferred cash payment, due August 15th, at cash rate
  • Promissory note, due October 15th, add 5% interest charge
  • Visa or MasterCard

Deductibles:

Currently, Henderson Hail Agencies Ltd. is pleased to offer seven (7) deductible options to help design your hail insurance needs to fit your farm’s unique needs:

  • Full Cover
  • 5XS Deductible
  • 10XS Deductible
  • 10IP Deductible
  • 10D Deductible
  • 20D Deductible
  • 25S Straight Deductible

For specific details of how these deductible options apply, contact your local broker/agent.

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Frequently Asked Questions:

Who can purchase a Henderson Hail policy?

  • Anyone who has an insurable interest in a crop can purchase insurance.

Can I purchase a hail insurance policy if I cash rent my land to another?

  • No, you must have an insurable interest in the actual crop itself. Since you are renting the land for a cash payment, your financial interest is not in the crop as you will be paid regardless of the crop being grown and harvested or not.

Can I insure my crop for more than it’s worth?

  • No, the insurance contract prescribes that the insurer shall not be liable for more than the actual cash value of each acre of the damaged crop, or the insurer’s pro-rata portion of such value if there is other insurance providing similar protection.

Once Coverage is purchased can I buy more?

  • You can buy additional policies any time prior to August 5th, up to a maximum of $250 per acre. This coverage limit is based on the land location, not the owner. i.e. If there are two or more people with insurable interest in the crop, each could purchase $125 coverage or any combination not exceeding $250 per acre.

Can I buy coverage after a hail storm?

  • No. In general, Henderson Hail Agencies Ltd. will not accept applications on crops that have had previous hail damage.

Is there anything I should do when I receive my hail policy?

  • When your policy arrives you should review it thoroughly to ensure that: a) you understand and are familiar with the terms and conditions of the policy; and b) the description of the crops insured, legal location, and numbers of acres insured are correct. If there is a mistake, it is much easier to correct at this time than after a loss. You will also receive a Notice of Loss form with your policy. This form will be completed by you or your designated Power of Attorney after an actual hail claim.

Where do I buy Henderson Hail Insurance?

  • Henderson Hail Insurance is sold through your local insurance broker / agent. If you want to know of an agent in your area, please call 1-877-448-4447 and we will direct you to an agent in your area.

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