The answer here is different for everyone and largely depends on your risk tolerance.
Some customers choose to cover their expenses only. Others choose to insure the full value of their crops which includes a component of profit as well. Hail insurance can be combined with the government all risk crop coverage, with other forms of risk management, or by itself. Our program offers up to $500/acre of coverage on a stated value basis for hail. This means that you are covered for the percentage of damage due to physical loss from hail to the value insured. It is important to read the statutory conditions on the back of your policy and to phone our office with any questions regarding coverage.
We offer a comprehensive choice of various deductible options which can be used to either save premium dollars, or used to extend the amount of coverage you have for the more severe storms for the same premium dollar. We have a video that explains deductibles.
Our policies also include a rider which covers your crop from accidental fire loss. This coverage is considered Actual Cash Value (ACV) which limits the amount of coverage to the cash value of the crop at the time of loss.