Products & Services > Crop hail insurance : Oklahoma

BASIC: Full Coverage (5% minimum loss – no deductible)

Provides a loss payment on a field(s) when the adjusted loss on the field is 5% or greater. When the adjusted loss on the field exceeds 70.0%, a Catastrophe Loss Award (CLA) is paid. The catastrophe loss award is one half percent (1/2%) for each one percent (1%) of loss in excess of 70%. The total payable percentage of loss shall not exceed 100.0%.

Example 1: 30% damage would pay 30%x$100= 30% payment

Example 2: 80% damage 80-70=10 10x0.5=5 80+5=85% payment

DXS10: Ten Percent (10%) Disappearing Deductible

Provides a loss payment on a field(s) when the adjusted percent of loss for the field(s) exceeds 10.0%. The loss payment shall be that percent of loss in excess of 10% multiplied by 1.25. Once the adjusted loss equals or exceeds 50%, this provision will no longer apply. When the adjusted loss on the field exceeds 70%, a Catastrophe Loss Award (CLA) is paid. The catastrophe loss award is one-half percent (1/2%) for each one percent (1%) of loss in excess of 70%. The total payable percentage of loss shall not exceed 100%.

Example 1: 30% damage 30-10=20 (20x1.25)=25% payment

Example 2: 60% loss= 60% payment

XS20IP: Twenty Percent (20%) Deductible

Provides a loss payment on a field(s) when the average adjusted loss exceeds 20.0%. The loss payment shall be the percent of loss in excess of 20% multiplied by 1.25. The total payable percentage of loss shall not exceed 100.0%.

Example 1: 30% damage 30-20=1010x1.25=12.5%x12.5%x $100=$12.50/acre payable

Example 2: 80% damage 80-20=60 60x1.25=75% payment

DDB: Twenty Percent (20%) Disappearing Deductible

The DDB policy provides a loss payment on a field(s) when the adjusted loss for the field(s) exceeds 20%. The loss payment shall be the percent of loss in excess of 20%. Once the adjusted percent of loss exceeds 30%, an additional award of 2% will be paid for each percent of loss in excess of 30%, up to a maximum of 40%. Once the percent of loss exceeds 40%, this provision will no longer apply. When the adjusted loss on the field exceeds 70%, a Catastrophe Loss Award (CLA) is paid. The catastrophe loss award is one-half percent (1/2%) for each one percent (1.0%) of loss in excess of 70%. The total payable percentage of each loss Shall not exceed 100%.

Example 1: 30% damage 30-20+=10% payment

Example 2: 35% damage 35-20= 15 35-30=5 5x2=10 10+15=25% payment

Example 3: 41% loss = 41% payment

Example 4: 82% loss 82-70=12 12x 1/2= 6 6=82 = 88% payment

EXCESS OVER 20% LOSS – DISAPPEARING AT 70% PROVISION – (SYMBOL: DXS20)

We will not cover any loss until the percentage of loss per acre exceeds 20%. The percentage per acre then payable will be the percentage in excess of 20%, multiplied by 1.4. Once the percentage of loss equals or exceeds 70% this provision will no longer apply. When the percentage of loss once exceeds 20%, thereafter the “Minimum Loss” provision will to apply to any subsequent loss(es).

Example 1: 45% loss 45-20= 25 25x 1.4= 35% payment

Example 2: 70% loss 70-20= 50 50x1.4 =70% payment

OPTIONAL DISAPPEARING DEDUCTIBLE – (SYMBOL: DDA)

We will not cover any loss until the percentage of loss per acre exceeds 10%. The percentage then payable will be the percent in excess of 10%. Once the percent of loss exceeds 20% an additional 2% will be paid for each percent of loss in excess of 20%, up to a maximum of 25% at which percentage this provision will no longer apply.

Example 1: 19% loss 10-10= 9% payment

Example 2: 23% loss 23-20= 3 3x2=6 23-10= 13 13+6=19% payment

Example 3: 30% loss = 30% payment

OPTIONAL DISAPPEARING DEDUCTIBLE – (SYMBOL: DDB)

We will not cover any loss until the percentage of loss per acre exceeds 20%. The percentage then payable will be the percent in excess of 20%. Once the percent of loss exceeds 30%, an additional 2% will be paid for each percent of loss in excess 30%, up to a maximum of 40% at which percentage this provision will no longer apply.

Example 1: 25% loss 25-20= 5%payment

Example 2: 35% loss 35-20= 15 35-30=5 5x2=10 10+15=25% payment

Example 3: 40% loss 40-20=20 40-30= 10 10x 2= 20 20+20= 40%payment

OPTIONAL DISAPPEARING DEDUCTIBLE – (SYMBOL: DDC)

We will cover any loss until the percentage of loss per acre exceeds 30%. The percentage then payable will be the percent in excess of 30%. Once the percent of loss exceeds 40%, an additional 2% will be paid for each percent of loss in excess of 40%, up to a maximum of 55% at which percentage this provision will no longer apply.

Example 1: 35% loss 35-30=5% payment

Example 2: 45% loss 45-30= 15 45-40=5 5x2=10 10+ 15= 25% payment

Example 3: 55% loss 55-30=25 55-40=15 15x2=30 30+25= 55% payment

BASIC: Full Coverage (5% minimum loss – no deductible)

Provides a loss payment on a field(s) when the adjusted loss on the field is 5% or greater. When the adjusted loss on the field exceeds 70.0%, a Catastrophe Loss Award (CLA) is paid. The catastrophe loss award is one-half percent (1/2%) for each one percent (1%) of loss in excess of 70%. The total payable percentage of loss shall not exceed 100.0%.

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