By Wade Shuler, SVP of Reinsurance and Special Products
In addition to federal Multiple Peril Crop Insurance (MPCI), AgriSompo offers a variety of powerful private products available only to our partner agents.
Each of our private products is developed by a team of industry experts to provide proactive, efficient coverage outside the limits set by the federal crop insurance program. We fill the gaps left by MPCI policies to maximize the protection agents can offer to America’s farmers.
Affordable: Our aim is to provide producers with the most comprehensive risk protection package in the most cost-effective manner.
Customized: The loss trigger, coverage range and protection factor of a policy can be precisely tailored to meet the needs of each producer’s unique operation
Targeted: Our private products allow policyholders to insure their own production rather than relying on county-level coverages.
Exclusive: These creative, innovative tools are only available to AgriSompo agents, allowing them to leave the competition behind and grow their books of business.
Contact your AgriSompo representative today to learn more about our private products, or read on below to learn more about each of our offerings.
BAND Coverage
AgriSompo’s most powerful private product, our fully customizable BAND Coverage allows producers to create their own crop insurance coverage exactly the way they like it.
At its core, BAND Coverage is a risk management tool that protects against shallow losses and provides a reliable way to decrease their crop insurance deductible . A lower deductible translates to a higher trigger for the producer’s indemnity, providing support exactly when it is needed.
ECO/SCO BAND
Our latest BAND Coverage product complements the Enhanced Coverage Option (ECO) and Supplemental Coverage Option (SCO) endorsements to provide a comprehensive risk management package.
With ECO/SCO BAND, policyholders can benefit from additional coverage beside their ECO or SCO deductible without the risk normally associated with area-based products such as these. The additional coverage alongside the ECO or SCO endorsement protects the policyholder in the case that their operation performs more poorly than others in the area.
The versatility of ECO/SCO BAND Coverage makes it a more effective option for many producers than products like the Crop Hail Production Plan (CHPP) which protect against a more limited range of perils.
Crop Hail
Crop Hail insurance is a private product which protects against unavoidable loss to a crop caused by hail, fire or lightning. During transport to the first place of storage, Crop Hail coverage also protects against collision, overturn and collapse of bridges, docks and culverts.
Each Crop Hail plan is written on a dollar-per-acre basis, with the amount of insurance set by the policyholder. AgriSompo offers one of the most extensive Crop Hail risk management programs available, with a large variety of plans ranging from complete hail protection to 50% deductibles.
Wind Endorsement
AgriSompo’s Wind Endorsement attaches to an underlying Crop Hail policy to provide additional coverage for direct damage from wind, including Green Snap, to a growing corn crop. We also offer Extra Harvest Expense protection to cover the costs associated with corn blown down in heavy winds.
Replant Option
Our Replant Option allows an insured to supplement any replant payment received under an MPCI policy. It also provides coverage from the first acre replanted, rather than requiring the policyholder to qualify for the 20/20 rule.
Some of our Replant Option plans include coverage up to 20 days before MPCI coverage begins. This early planting option is a good fit for producers who want to plant their crops early to take advantage of a few extra weeks of growing season that could increase their production.
Xtra Bundle
AgriSompo's Xtra Bundle saves producers even more money by combining our most popular plans into one affordable package: Crop Hail, Wind, EHE, Replant, and Early Plant coverage are all included.