Seed Inventory Program Coverage Details
All zones are eligible.
Limits available up to $5,000,000 USD
- Authorized Branded Seed Inventory
- Shipment containers, where applicable
Premium Rate/Payment Per $1,000 of invoiced seed:
- Tier 1: Up to $2,000,000 USD at a rate of $1.15 per $1,000 of invoiced seed.
- Tier 2: Over $2,000,000 USD at a rate of $1.05 per $1,000 of invoiced seed.
- Premium is automatically applied to dealer account.
- Accounts must be settled by July 15
Policy Limits of Liability
- $5,000,000 Maximum any one loss and any single location - subject to Dealers Certificate of Insurance
- $2,000,000 Flood (except for Flood Zones A and its derivatives)
- $250,000 Flood Zone A and its derivatives
- $2,000,000 Inventory in wood frame, all wood-sided buildings. Does not apply to Metal exterior with Wood Frame (i.e.Pole Barn)
- $300,000 Inventory in Transit
- $250,000 Downstream Seed Treatment Chemicals
- $500 Deductible any one loss; except
- $25,000 Deductible – Flood Zone A and its derivatives
August 1st to August 1st - Auto-Renewed unless cancelled.
- Applies to Covered Property while in the following situations:
- In or on premises of authorized dealers
- In the custody of a common carrier or motor vehicle including connecting carriers
- In the custody of any railroad
- In transit in, on or towed by any vehicle which you own, lease or operate
- In transit between your premises(s) including authorized dealers to the purchaser
Policy insures against “All Risk” of direct physical loss or subject to policy terms, conditions, and exclusions. Perils Include – Flood, Fire, Wind, Hail, Theft, Animal Damage, and Vehicle Collision/Overturn
Business Interruption, Loss of Market, Unexplained Loss, Inherent/Natural Spoilage, Misappropriation/Dishonesty, War and Nuclear Risks, Insects or Rodents, Product Failure, Fungi Limitation, and Terrorism
Seed sales based on invoice
Sub-Dealer Insurance Available
All Sub-Dealers of authorized and enrolled Dealers can participate in the programs.
- Insurance terms and conditions are the same for enrolled Dealer and Sub-Dealers.
- Please complete the Sub-Dealer section of the application.
- Sub-Dealers enroll under dealer number of enrolled Dealer. A separate certificate will be sent to all enrolled Dealers showing all Sub-Dealers on the account.
- Premiums are based on seed invoiced to enrolled Dealer and will continue to be billed to the enrolled Dealer. There is no insurance billing relationship between the Sub-Dealer and Hays Companies.
- A loss at a Sub-Dealer location must be reported by the enrolled Dealer, and any loss payment will be made to the enrolled Dealer.