The USDA’s Risk Management Agency announced it will be offering a new crop insurance endorsement, called the Hurricane Insurance Protection – Wind Index, during 2020.
The new endorsement covers a portion of the deductible of the underlying crop insurance policy when a county, or adjacent county, is within the area of sustained hurricane-force winds.
The coverage provided by HIP-WI can be combined with the Supplemental Coverage Option and the Stacked Income Protection Plan when acreage is also insured by a companion policy.
“Hurricane season will be upon us before we know it,” says RMA Administrator Martin Barbre. “This new hurricane endorsement provides some added protection for producers along the Gulf and east coasts, as well as Hawaii. The past couple of hurricane seasons have taught us that more coverage is needed in these areas and that prompt payment for losses is important, not only for the impacted producers but also for these rural communities.”
The new endorsement provides coverage for 70 different crops and is available in counties in the vicinity of the Gulf of Mexico and the Atlantic, as well as Hawaii.
The deadline to purchase HIP-WI coverage for the 2020 crop year is April 30.