Crop hail insurance provides you with insurance to compensate for the loss of crops due to one of nature's most damaging weather conditions - hail. It also provides protection against fire and lightning damage while the crop is in the field or harvester. For some crops, the coverage extends to protect crops in transit to the first place of storage.
Anyone is eligible for this type of insurance. No lending relationship is required.
The amount of coverage is established by the customer up to the total expected cash value of the crop. Insurance proceeds may be used to retire debt that was incurred to finance the crop production. Crop hail insurance is a key tool to assist farm managers and owners in protecting their financial investment in growing crops. Initial marketing efforts should be made when operating loans are originated or renewed.
Crop hail insurance is available through a number of competitors. The features are fairly standard. However, GreenStone loan officers are familiar with crop descriptions and other details essential to fast and fair claim service. GreenStone's crop hail insurance is provided only by financially sound carriers that are experienced with the crop insurance needs of farmers.
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Availability of no deductible: provides first dollar coverage
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Protect your income by receiving full compensation for losses regardless of size.
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Part or all of crop value can be insured.
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You determine the coverage that's best for your situation. You decide how much risk your operation can handle and then tailor the coverage to manage that risk.
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Policies for most crops can be written any time up to the specified harvest date.
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You can weigh all the factors before insuring your crop and you have the flexibility to insure your crop at any time prior to damage. Most coverage requires a completed application at least 24 hours prior to the hail damage.
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Vandalism coverage
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Protects you from losses suffered due to acts of vandalism caused by RVs, ATVs, autos and destruction objects. $50 deductible normally applies.
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Coverage while in storage
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Some polices provide storage coverage for any insured crop while stored at your farm. This may allow a grower to reduce or eliminate his storage coverage on farm property and casualty policy.
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Provides insurance for loss due to fire or grain loss in transit to first place of storage.
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Additional protection is provided for losses due to fire or grain loss in transit to the first storage facility.
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Convenience in obtaining operating credit and crop hail insurance together.
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Save time by obtaining crop hail insurance now, at the same time and place your loan is being processed.
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Each crop has a coverage deadline.
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Coverage usually ends at harvest or at the set deadline, whichever comes first.
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Customer sets the amount of crop to be insured.
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You have the option to insure all or any portion of the value of your crops.
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Local claims adjusters.
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Fast claim service is provided by an adjuster familiar with local property.
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Losses are paid within 30 days of final adjustment.
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Your claim is normally paid within 30 days after the final adjustment. You also have the option of deferring adjustment until the actual loss can be determined at harvest.
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Customer can choose when to pay the premium.
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You have the option of either paying the premium at application or waiting until the due date, for a small additional fee. This allows you time to harvest the crop before paying the premium.
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