Production Insurance for sour cherries provides multi-peril protection for all processing crops.
Choose either standard tree mortality loss coverage, at no cost to you, or additional tree mortality loss coverage, offering you greater coverage at a lower deductible level.
See the Example scenario to help you choose the option that best meets your needs.
Fruit tree rider coverage
The fruit tree rider is added to your coverage if your trees were insured in the previous crop year, or if you notified Agricorp by September 1 and meet eligibility requirements. Newly planted trees must have been planted by June 10 to be eligible for coverage in the next crop year.
The fruit tree rider gives you additional protection if your sour cherry trees die as a result of one or more insured perils.
For more information about this coverage, including how to qualify, see the Fruit Tree and Grapevine Riders feature sheet.
FAY for existing participants
Your FAY is based on your yields from your 6 most recent years.
FAY for new participants
You are assigned an underwritten FAY for the first 6 years of production based on a variety of factors, including:
- Age of trees
- Available production records
- Irrigation capabilities
- Location of orchard
- Other management practices
- Regional weather patterns
- Soil type
- Spacing of trees
- Tree health
- Varieties grown
For each year that you participate, your actual yield replaces an underwritten yield until your FAY is composed entirely of your own actual yields.
The claim price for sour cherries is an estimated
price set at renewal. The final claim price is set at harvest and is used to
calculate a guaranteed value for the reported yield and for claim purposes.
Note: Your Production Insurance coverage is automatically renewed at the claim price option you selected in the previous year. To make changes to your coverage, contact Agricorp by the date on your renewal. For more information, see the Deadlines page.
When you apply or renew each year, you choose 1 coverage level from several available options. It determines your guaranteed production.
Guaranteed production is determined by multiplying your FAY by your selected coverage level. This number is used to calculate your guaranteed value.
= FAY × your selected coverage level
Guaranteed value converts your guaranteed production into a dollar amount so your premiums can be calculated and any production loss claims can be paid.
Guaranteed value = guaranteed production × claim price