Products & Services   >   Crop hail insurance : New Mexico

Basic:  Full Coverage (5% Minimum Loss)

Provides a loss payment on a field(s) when the adjusted loss for the field(s) is 5.0% or greater. The loss payment shall be the full percent of loss. Any second or subsequent loss must be 5% or more of the original crop. When the adjusted loss on the field exceeds 70.0% a Catastrophe Loss Award (CLA) is paid. The catastrophe loss award will be one-half percent (1/2%) for each one percent (1.0%) in excess of 70%. The total payable percentage of loss shall not exceed 100.0%. CLA does not apply to Cotton and Chile Peppers.

 

    Example 1: 32% loss = 32% payment

    Example 2: 85% loss = 85-70= 15? 15x 0.5= 7.5 85+7.5=92.5% payment (90% loss = 100% payment)

 

XS101P:  Ten Percent (10%) Deducible with an Increasing payment

Provides a loss payment on a field(s) when the adjusted loss for the field(s) exceeds 10.0%. The loss payment shall be that percent of loss in excess of 10.0%. When the adjusted loss on the field(s) exceeds 70.0% an Increasing Payment is paid. The increasing payment is one percent (1%) for each percent of loss in excess of 70.0%. The total payable percentage of loss shall not exceed 100.0%.

 

    Example 1: 32% loss = 32-10=22% payment

    Example 2: 85% loss = 85-10=75 85-70=15 75+15=90% payment (90% loss = 100% payment)

 

XS10: Ten Percent Deductible

Provides a loss payment on a field(s) when the adjusted loss for the field(s) exceeds 10.0%. The loss payment shall be that percent of loss in excess of 10.0%. The total payable percentage of loss shall not exceed 90.0%.

 

Example 1: 32% loss = 32-10=22% payment

Example 2: 100% loss= 90% payment

 

XS20: Twenty Percent (20%) Deductible

Provides a loss payment on a field(s) when the adjusted loss for the field(s) exceeds 20.0%. The loss payment shall be that percent of loss in excess of 20.0%. The total payable percentage of loss shall not exceed 80.0%.

 

Example 1: 32% loss= 32-20=12% payment

Example 2: 100% loss = 100-80=80%payment

 

EXCESS OVER 20% LOSS – INCREASING PAYMENT PROVISION- SYMBOL:  XS20IP)

We do not cover any loss until the percent of loss per acre exceeds 20.0%, the percentage per acre then payable will be the percent in excess of 20%, multiplied by 1 25. The payable percentage may not exceed 100%. When the percentage of loss once exceeds 20%, thereafter the “Minimum Loss” provision will apply to any subsequent loss(es).

 

    Example 1:  32% loss= 32-20=12 x 1.25=15% loss payment

    Example 2: 85% loss =85-20=65 65x 1.25=81.25% payment

 

EXCESS OVER 15% LOSS-(SYMBOL:  XS15)

We will not cover any loss to any acre of the insured crop until the insured loss or loss(es) exceeds 15%. The amount then payable on any loss or losses will be determined by the percentage of loss per acre that is excess of 15%. When the percentage of insured loss to any acre once exceeds 15%, thereafter the “Minimum Loss” provision of the policy will apply to any subsequent loss(es) on that acre.

 

    Example 1: 32% loss= 32-15= 17% payment

    Example 2: 100% loss = 100-15= 85% payment

Cotton Stepladder

for Dona Anna,

Hidalgo, Luna

& Sierra Counties

 

  Date       Percent

5/2          25%

5/3          25%

5/4          25%

5/5          50%

5/6          50%

5/7          50%

5/8          50%

5/9          50%

5/10        75%

5/11        75%

5/12        75%

5/13        75%

5/14        75%

  5/15        100%

Ag Crop Insurance Agency Inc. is an equal opportunity provider.

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