Crop Insurance for Almonds — 2013
Insurability Requirements:
Insured crop is all almond acreage in the county:
In which grower has a share.
Grown for harvest as almonds.
On irrigated acreage only.
On acreage where at least 90% of the trees have reached at least the
6th growing season after set out*
Interplanting with another perennial crop is allowed, unless inspected
and determined to be uninsurable.
Available Counties within California
Butte
San Joaquin
Colusa
Solano
Fresno
Stanislaus
Glenn
Sutter
Kern
Tehama
Kings
Tulare
Madera
Yolo
Merced
Yuba
Production Information:
Unit of measure: Pounds
Production to count: Total meat pounds include whole, chipped, broken,
and in shell meats. In shell meats are converted to meat pounds in accordance with the shelling percentage chart with the crop insurance handbook.
Acreage Reporting:
Acreage acquired after coverage begins and before acreage reporting
date may be insurable after an inspection
Acreage acquired after acreage reporting date will not be insured.sd
Acreage relinquished on or before acreage reporting date for the crop
year will not have insurance attached or indemnity due, unless:
1) A Transfer of Right to an indemnity is approved.
2) Underwriting Company has been notified by the acreage reporting date.
Cause of Loss:
Adverse Weather
Earthquake
Volcanic Eruption
Fire
Insects
Plant Disease
Failure of the Irrigation water
supply
Wildlife
Exclusions:
* Inability to market for other than physical damage due to insurable
Notice of Loss Requirements for the grower:
You must notify us within 72 hours of initial discovery either by phone or
in person.
You will receive a confirmation of your notice back from the underwriting
company.
In the event of damage or loss you must protect the crop from further
damage by providing sufficient care.
You must obtain consent from the underwriting company before and
then notify us after you:
1) Put the insured crop to another use
2) Destroy any of the insured crop that is not harvested
3) Put the insured acreage to another use
4) Abandon any portion of the insured crop.
Policy Scenario - Loss Payment Example
Crop Insurance for Almonds 2013
Buy Up Example • Acres:
100
• APH
2500 pounds per acre
(Production History)
• Coverage Level:
70% Buy Up
• Guarantee Per acre: 1750 pounds per acre
• Share:
100%
• Unit Structure:
Basic
• Subsidized premium: $59.02 (per acre)
100 acres X 1750 guarantee per acre = 175,000 Production Guarantee X $2.00 price election = $350,000 X 100% share =
$350,000 Total Protection
Harvested Production: 115,205 Pounds
175,000 production guarantee -(minus) 115,205 harvested production = 59,795 production shortfall X $2.00 price election =
$119,590 indemnity payment
$59.02 premium per acre X 100 acres = $5,902 (Cost to insured)
CAT Example • Acres:
100
• APH
2500 pounds per acre
(Production History)
• Coverage Level:
CAT (50/55)
• Guarantee Per acre: 1250 pounds per acre
• Share:
100%
• Unit Structure:
Basic
• Subsidized premium: $00.00 (per acre)
• Admin Fee:
$300
100 acres X 1250 guarantee per acre = 125,000 Production Guarantee X $1.10 price election = $137,500 X 100% share =
$137,500 Total Protection
Harvested Production: 115,205 Pounds
137,500 production guarantee -(minus) 115,205 harvested production = 9,795 production shortfall X $1.10 price election =
$10,475 indemnity payment
$300 (Cost to insured)
CA Brokers License #: 0H05084 • CA Lic #: 0803516
*This advertisement provides limited information and the information herein cannot be considered an offer or guarantee of insurance coverage.
Vintage Crop Insurance Agency, Inc. is an equal opportunity provider.