Insurance Plans
John Deere offers a full range of crop insurance products presented by local agents. Many of our agents were farmers just like yourself; they understand how important it is that you have the best options available. Our agents also understand that exceptional customer service is the key factor to building a long-term relationship with Ray Lee - John Deere Insurance.
You've come to know and trust Ray Lee and John Deere for dependable, quality products. With crop insurance offered through John Deere Risk Protection, we will continue to earn that trust.
John Deere Risk Protection brings together the most trusted name in agriculture with innovative insurance solutions designed around you. JDRP has the capability to combine your Multi-Peril Crop Insurance policy with your chosen crop-hail coverage on one complete crop insurance policy. You'll find that this single-source solution is an efficient way to apply for and monitor your policies. One application. One bill.
COVERAGE TO FIT YOUR NEEDS
JDRP understand that not all growers use crop-hail insurance in the same way. That's why we offer a wide range of crop-hail options: Standard, Companion and Production Plans.
Standard Crop-Hail Plan
The Standard Crop-Hail Plan has a variety of coverage options and deductibles available for you. The Standard Crop-Hail Plan has a variety of coverage options and deductibles available for you. With the Standard Crop-Hail Plan:
- You are entitled to an indemnity when the damage due to an insured peril equals or exceeds 1 percent above your selected deductible.
- The payable loss will be the assessed damage plus any extra allowance that may apply. The benefit of the Standard Crop-Hail Plan is that it can be used to cover up to the full value of the crop.
- Additionally, it can stand alone or may be written in conjunction with an MPCI Policy.
Companion Crop-Hail Plan
The Companion Crop-Hail Plan provides protection against physical damage to your crops from hail or other named perils. This acre-by-acre coverage provides protection for isolated damage due to an insured peril. With the Companion Crop-Hail Plan:
- You are entitled to an indemnity when the damage due to an insured peril equals or exceeds 1 percent above your selected deductible.
- The payable loss will be the assessed damage times the increasing payment factor for the Companion Crop-Hail Plan you select.
- The benefit to the Companion Crop-Hail Plan is that it can be used to protect the portion of your crop not covered by your MPCI policy.
Production Crop-Hail Plan
The Production Crop-Hail Plan** provides protection against physical damage to your crops from hail or other named perils. This coverage is based on your actual production history multiplied by a modified yield factor and is measured by the MPCAI unit and not by acre. With the Production Crop-Hail Plan you are entitled to an indemnity when:
- Damage due to an insured peril that equals or exceeds 5 percent of your selected deductible.
- The damaged MPCI unit has a production deficiency at the time of harvest. Unit production must be quantified prior to indemnity payment.
Here's how the Production Crop-Hail Plan works:
In conjunction with your MPCI policy, the Production Crop-Hail Plan is used to cover actual production deficiencies due to a hailstorm or other named peril. After a qualifying peril has occurred, damage to the unit is assessed; however, final adjustment is deferred until harvest. At harvest, the actual production deficiency for the MPCI unit is used to calculate the loss.
The benefit of the Production Crop-Hail Plan is that the producer may be indemnified up to 100%*** of the value for the lost and/or damaged crop due to hail and is less costly as it pays only for actual production losses due to hail.
The Production Crop-Hail Plan is ideal for a producer who:
- Looks at exposure on an aggregate basis as indemnity is paid on a UNIT basis, not an acre-by-acre basis.
- Understands that a crop that has sustained a hail loss can recover through a growing season and in some cases, may harvest over its actual production history.
- Is comfortable waiting until final unit production is determined prior to calculation and payment of any indemnity.
been in the farming industry. Sheila Lee: 806-293-2538 or email Sheila at: sheilaL@rlec.com.
