Nursery Value Select

The insured crop will be all plants within each insured practice for CAT level of coverage, and each plant category you choose to insure within each insured practice for additional levels of coverage and that:

• You have a share;
• Are grown in a nursery that receives at least 40 percent of its gross income from the wholesale marketing of nursery plants;
• Meet all the requirements for insurability;
• Are grown in an appropriate medium; and
• Are grown and sold with the root system attached.

Nursery plants may not be insurable if they:

• Are grown in containers containing two or more different genera, species, subspecies, varieties, or cultivars;
• Are any plant classified by a state or county as illegal to grow or sell in the county in which the nursery is located;
• Are grown as stock plants; or
• Are grown solely for harvest of buds, flowers, or greenery.

Your nursery must be inspected and approved as acceptable before insurance coverage can begin.

You are protected against the following:

• Adverse weather conditions, including wind, hurricane and freeze. If cold protection is required for the plant category in the Special Provisions, adequate and operational cold protection measures must be in place;
• Failure of irrigation water supply, if due to an insurable cause of loss, such as drought;
• Fire, provided weeds and undergrowth are controlled; and
• Wildlife.

Plant damage or losses in value as a result of the following situations are not covered:

• Collapse or failure of buildings/structures, unless caused by an insurable cause of loss;
• Disease or insect infestation, unless effective control measures for the infestation do not exist;
• Failure of plants to grow to an expected size;
• Inadequate power supply, unless such inadequacy is a result of an insurable cause of loss; and

Inability to market nursery products due to a stop sales order, quarantine, boycott, phytosanitary restriction on sales, or buyer refusal.

For all Atlantic Coast states, Gulf Coast states, and West Virginia:

• Sales Closing/Cancellation ………. May 1
• Insurance Period Begins ………… June 1
• Contract Change Date ……… January 31

For all other states:

• Sales Closing/Cancellation ……… Sept 1
• Insurance Period Begins ………….. Oct 1
• Contract Change Date ….……… April 30

For example, if you selected the 75-percent coverage level, your premium share would be 45 percent of the base premium. The catastrophic coverage level is fixed at 27.5 percent of your plant inventory value. The only cost for the catastrophic coverage level is an administrative fee of $655 for each insured practice.

Basic units are the only unit division available for NVS. However, you may further divide your basic unit into additional basic units by using one of the following methods. You may choose only one method for all your basic units.

• Each plant category you choose to insure within an insured practice as a separate basic unit; or
• Non-contiguous land for the field grown practice and, if allowed by the Special Provisions, for the container grown practice. You may choose to insure one or more plant categories under this additional basic unit structure.

Your share = 1.000

$500,000   Selected value
x      0.75   Coverage level percentage
$375,000   Amount of insurance

In the event of a loss
Pre-loss actual unit value = $600,000
Post-loss damage value = $200,000