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| You are close to right. Based on the numbers you are quoting, you have to have $175/acre of weather losses before the policy will start paying. This is your deductible (in most cases significantly less than your federal crop insurance deductible if you were to calculate the value of the bushels you would have to lose before your federal crop insurance would start registering claims). Then you will receive payments of up to $180/acre gross based on additional qualifying weather losses. Because premiums are paid at the END of the policy rather than up front like your car insurance, your first dollars of payment go towards paying your deductible. So after paying your premium out of claims, you will receive a maximum net payment of $138.27 per acre from the policy if you have enough bad weather this season. Please feel free to contact our support team at 888-924-7475 if you have additional questions that you would like answered! | |
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TWI deductible/premium
