|
Central Alabama | Does anybody know how this endorsement option works and how much the premium would be.
REPLANT EXTRA
Rates, Rules, and Underwriting Guidelines for 2018
1. This endorsement is only available if the insured has a current Multiple Peril Crop Insurance (MPCI) policy for the crop(s) insured under this endorsement. The underlying MPCI policy mustalso be insured at a coverage amount greater than the Catastrophe Risk Protection (CAT) amount
in order to have coverage under this endorsement.
2. All acreage of the applicable crop(s)/county(ies) insured in which the insured has an insurable share must be insured under this endorsement. An exception would be that acreage insured under the MPCI policy that is identified as high risk, uninsurable, unclassified, planted prior to the
earliest planting date, insured under the added county election (assuming it is not listed as insurable under the application for this coverage), insured by written agreement, or insured under an organic practice would not be insurable under this endorsement.
3. Application for coverage under this endorsement must be made on or before the applicable sales closing date for the crop(s) insured for the current crop year for the underlying MPCI policy.
4. All applications for this coverage are individually written and subject to Rain and Hail approval. Agents do not have binding authority for this coverage.
5. The amount of insurance for replant coverage under this endorsement for corn is $10 - $60 per acre, cotton $50 - $75 per acre, dry beans $10 - $50 per acre, soybeans $10 - $50 per acre, and for sugar beets it is $20 - $60 per acre (can be elected in increments of $5 within these ranges).
6. This is an annual endorsement.
7. All applicable rules of the MPCI policy also apply to this coverage, unless otherwise stated here or in the endorsement.
8. The premium for this coverage is due at the same time as the premium for the MPCI policy. Any premium owed to Rain and Hail for this coverage will be deducted from any replanting payment.
9. The rates per $100 of insurance for each crop and state are as follows:
State Corn Soybeans Dry Beans Sugar Beets Cotton State Corn Soybeans Dry Beans Sugar Beets Cotton
AL 1.90 4.95 N/A N/A 14.65 MN 2.30 3.00 3.00 8.25 N/A
AR 3.00 10.00 N/A N/A 13.35 MO 5.75 9.00 N/A N/A 12.50
CO 1.80 3.40 3.40 14.70 N/A MS 5.00 8.75 N/A N/A 14.50
GA 1.90 4.95 N/A N/A 13.35 MT 1.80 N/A 3.40 9.00 N/A
ID 1.80 N/A 3.40 17.30 N/A NE 1.65 3.20 3.00 16.20 N/A
IL 4.45 6.10 N/A N/A N/A ND 1.80 3.40 3.40 8.25 N/A
IN 5.15 5.75 N/A N/A N/A OH 3.95 6.55 N/A N/A N/A
IA 2.95 5.35 3.00 N/A N/A SD 2.70 3.40 3.40 N/A N/A
KS 3.20 7.75 3.60 N/A N/A TN 3.95 6.80 N/A N/A 13.35
KY 4.50 4.25 N/A N/A N/A WI 1.65 3.00 3.00 N/A N/A
LA 6.00 11.85 N/A N/A 14.10 WY 1.80 N/A 3.40 9.00 N/A
MI 1.80 3.50 4.25 9.00 N/A | |
|
Crop insurance replant option for cotton
