Wine Grape Crop Insurance News - Contract Price

Do you want a higher price for your grapes from the crop insurance program? Then take advantage of the contract price endorsement. The contract price endorsment allows you as a grower to increase the government set price by 100%. The requirements are very simple; First the contract has to be in writing and signed before April 30th, second the contract election must be made before sales closing January 31 and finally a copy of the contract must be in the crop insurance agents office by April 30. We have seen crops with multiple contracts. These crops get a blended average of the contract prices assuming they are not all the same. We end up doing some math but we can tell you what that number will be. A simple example: Cab Franc has a price of $1000 per ton in crush district 8. If you have a contract for $2250, you can increase the insurance price to $2000 or 100% of the district 8 price. Of course had the contract price been $1500 you could only increase the price to the $1500. It may not seem like a big deal but for the added premium a claim can be increased by a very large percentage. In one case the difference in payout made growing in 2012 a possibility. So give us a call at 805-238-1818 to increase your crop insurance value. Ted Hamm insurance works hard to give you the value you deserve.


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