Nursery Value Select

Nursery Value Select (NVS) is a pilot program that allows nursery producers to select the dollar amount of coverage that best fits their risk management needs. NVS, an asset-based form of insurance, covers causes of loss similar to the existing nursery program.

Availability

NVS is available in all states and counties.

Eligibility

NVS is available in all counties where a premium rate is provided in the actuarial documents, to all persons operating nurseries that meet certain criteria. 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:

• Have a share.
• Are grown in a nursery that receives at least 40% of its gross income from the wholesale marketing of nursery plants.
• Meet all the requirements for insurability.
• Are grown in an appropriate medium.
• 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 general, 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.
• Are grown solely for harvest of buds, flowers or greenery.

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

Occurrence Loss Option

Under the additional level of coverage, insured may purchase the Occurrence Loss Option (OLO) in conjunction with their NVS policy in exchange for an additional premium. If the OLO is elected, the insured’s guarantee will be calculated the same as it would otherwise be calculated under the base policy. However, the OLO allows indemnities to be paid on smaller losses if a minimum dollar value of loss is exceeded.

Insured Causes of Loss

Insured is protected against the following:

• Adverse weather conditions, including wind, hurricane and freeze. If cold protection is required for the plant category, 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.
• 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.
  • Inability to market nursery products due to a stop sales order, quarantine, boycott, phytosanitary restriction on sales or buyer refusal.

Premium Subsidy

DataScape is a registered trademark of Datascape, LLC, Gurnee, Illinois.

The information contained in this publication is for general purposes only and shall not modify the terms of any insurance policy. Please refer to policy information found in the actuarials for your commodity/plan type.