Nursery Value Select

What is Nursery Value Select?

Nursery Value Select (NVS) is a pilot program that allows nursery producers to select the dollar amount of coverage that best fits their risk management needs. NVS, which is an asset-based form of insurance with minimal paperwork requirements, covers causes of loss such as weather, fire and wildlife.

Who is eligible for Nursery Value Select?

Nurseries that derive at least 40% of their gross income from wholesale marketing may purchase NVS. The policyholder must have and submit a wholesale catalog.

What types of plants are covered by Nursery Value Select?

• Liners.
• Annual plants and plants grown for one year or less.
• Herbaceous biennial and perennial plants.
• Vines.
• Foliage.
• Broadleaf evergreen trees and shrubs.
• Coniferous trees and shrubs.
• Deciduous trees and shrubs.
• Palms.
• Cycads.

Check the Actuarial Information Browser (AIB) for other groups.

What practices are covered by Nursery Value Select?

NVS covers both container-grown and field-grown nursery practices.

What is the Occurrence Loss Option?

The Occurrence Loss Option (OLO) is a continuous option which moves the deductible from the unit level to the plant level. An indemnity will be due under the OLO when the post-loss damage value is equal to or greater than 10% of the pre-loss actual unit value (unless otherwise specified).

What is the Peak Endorsement Pilot?

The Peak Endorsement Pilot provides increased coverage during a designated peak period when the grower’s inventory value may be higher than their selected value (not available with CAT).

When is the sales closing and nursery value reporting date for Nursery Value Select?

May 1 for Alabama, Connecticut, Delaware, Florida, Georgia, Louisianna, Maine, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Noth Carolina, Pennsylvania, Rhode Island, South Carolina, Texas, Vermont, Virginia and West Virginia. 

September 1 for Colorado, Mississippi, Oregon, Tennessee, Washington and all remaining states.