Processing Beans

Processing beans (snap and lima) are insurable if:

• They are grown under, and in accordance with, a processor contract executed by the acreage reporting date; and
• They are not excluded from the contract at any time during the year.

Lima beans following snap beans harvested in the same crop year are not insurable.

Processing beans are insurable in Hyde County. Processing beans may be insurable in other counties if specific criteria are met. Contact a crop insurance agent for more details.

You are protected against the following:

• Adverse weather conditions, including natural perils such as hail, frost, freeze, wind, drought, and excess precipitation;
• Failure of irrigation water supply, if caused by an insured peril during the insurance period;
• Fire, if caused by an insured peril during the insurance period;
• Insect damage and plant disease, except for insufficient or improper application of control measures; or
• Wildlife.

This policy does not cover insect or disease damage on any snap bean acreage that follows a crop of snap beans, lima beans, or green peas harvested within the same crop year.

Coverage begins at planting unless:

• Spring snap bean acreage is planted before March 25;
• Fall snap bean acreage is planted before July 15; or
• Lima bean acreage is planted before May 10.

Coverage ends with the earliest occurrence of one of the following:

• The date the processing beans were destroyed, abandoned, harvested, or should have been harvested but were not harvested;
• The date you harvest sufficient production to fulfill your processor contract (if the contract stipulates a specific amount of production to be delivered);
• Final adjustment of a loss;
• September 20, for spring-planted snap beans;
• October 5, for lima beans; or
• October 31, for fall-planted snap beans.

Spring Snap Beans

Sales Closing Date ....................... March 15, 2018

Acreage Reporting Date ................... July 15, 2018

Fall Snap Beans

Sales Closing Date ....................... March 15, 2018

Acreage Reporting Date ........ September 15, 2018

Lima Beans

Sales Closing Date ....................... March 15, 2018

Acreage Reporting Date ................... July 15, 2018

Lima Bean Varieties M-15, Cypress, Meadow, and C-elite Select

Final Planting Date .......................... July 20, 2018

Acreage Reporting Date ................... July 25, 2018

An acreage report is a report of all insured acreage of processing beans. A report and a copy of all your processor contracts must be submitted to your crop insurance agent on or before the appropriate acreage reporting date.

Notice of Loss - If a loss occurs you should:

• Protect the crop from further damage by providing sufficient care; providing sufficient care;
• Notify your crop insurance agent within 72 hours of your initial discovery of damage (but not later than 15 days after the end of the insurance period); and
• Leave representative samples intact for each field of the damaged unit.

Base Contract Price - The price stipulated in the processor contract for the grade factor or sieve size that is designated in the special provisions, if applicable, without regard to discounts or incentives that may apply.

Bypassed Acreage - Land on which production is ready for harvest but the processor chooses not to accept such production so it is not harvested.

Production Guarantee - Number of tons guaranteed per acre determined by multiplying your average yield per acre (based on your records) by the coverage level you choose.

Coverage levels range from 50 to 75 percent of your average yield and are subsidized as shown in the following table.

Catastrophic Risk Protection (CAT) coverage is fixed at 50 percent of your average yield and 55 percent of the price election. The cost for CAT coverage is an administrative fee of $300.

Price used to calculate your premium or indemnity.

Lima .................................................... $460 per ton

Italian ................................................. $255 per ton

Petite .................................................. $255 per ton

Wax ................................................... $255 per ton

Green and Other Unlisted Types ....... $255 per ton

Actual Production History (APH) Yield Exclusion (YE) is available in some processing bean counties. YE allows you to exclude yields in exceptionally bad years from your production history when calculating yields used to establish your crop insurance coverage.

Assume snap and lima beans with APH yields of 2.5 tons and 1.2 tons respectively, 65 percent coverage level, 100 percent share, and one basic unit.