Hail insurance does not automatically cover wind damage. Most hail policies are written as a “Basic” form which covers Hail, Fire, and Transport but not wind directly. To add wind coverage we have a few options to consider:
GREEN SNAP:
This endorsement will pay when the corn plant is “broken” off below the ear causing 100% loss of that plant. The additional cost of this endorsement varies by company and deductible chosen but is usually around $.45 per $100 of coverage on top of your “Basic” rate. If the plant “goose necks” but does not break, this endorsement will not pay.
CORN WIND:
This endorsement is a little more comprehensive because it will pay when corn is blown down with or without green snap. The corn stalk must be down to the point of 20 degrees or less and the shank of the
ear less than 12 inches off the ground. Corn Wind endorsement premium will vary some based-on
deductible and expiration chosen but generally will cost about $.90 per $100 of coverage.
EXTRA HARVEST EXPENSE:
This endorsement will pay 8% of your coverage per acre when the corn is blown over to the same
parameters of the Corn Wind Endorsement on the lessor of 20 acres or 20% of the acres in a field. This endorsement again varies by expiration and deductible but would add around $.35 per $100.
BUNDLE DISCOUNT:
If you are wanting to add wind coverage to your hail policy, you may want to consider a “Bundle Policy”.
Each company varies a bit on this, but most require a wind endorsement with extra harvest expense and extra replant coverage. When you “bundle” these coverages, you will receive a discount on the package of around 10%. To be eligible, you must also carry a Multi-Peril policy on the acres insured.
In summary, the wind discussion is one worth having with your agent if you feel you are in a susceptible area. Unfortunately, we find that the parameters of the endorsements do not get reached often and they can get quite expensive.
When reviewing your hail policy, it is also important to make sure the coverage per acre is keeping up with the cost of your inputs and the value of the crop.