Harvest Flood Option

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Purpose

The Harvest Flood Option provides insurance for the inability to harvest coarse hay due to excess moisture.

Eligibility

The Harvest Flood Option is available for producers who have insured coarse hay acres.

Coverage

The inability to harvest coarse hay due to excess moisture is not an insurable cause of loss under Select Hay Insurance or Basic Hay Insurance, and therefore is not considered a production loss. The Harvest Flood Option must be selected to provide any compensation for coarse hay in the event a producer is unable to harvest due to excess moisture.
The base deductible is per cent of the total insured coarse hay acres.
The Harvest Flood Option pays a fixed dollar amount for coarse hay acres that cannot be harvested due to excess moisture. Acres too wet to harvest are not eligible for production loss compensation.
High Dollar Value ($ per acre) and Low Dollar Value ($ per acre) options are available.
Coarse hay acres that are not harvested due to excess moisture will not be used in a producer’s Individual Coverage calculations, and will not negatively impact future probable yields.
The Harvest Flood Option must be selected for coverage by March 31. Once selected, the Harvest Flood Option is ongoing and renews automatically each year until the producer cancels the option.

Cost

The premium cost is shared per cent by the producer, per cent by the Government of Canada, and per cent by the Province of Manitoba.

Claims

Producers must register a claim for the Harvest Flood Option by October 1 (without penalty).
A claim is calculated on the number of coarse hay acres not harvested due to excess moisture, less the deductible, multiplied by the selected Dollar Value.

Claim Example

A producer has acres of coarse hay. The producer is unable to harvest acres due to excess moisture. The base deductible is per cent. The producer selected the Harvest Flood Option and chose the High Dollar Value ($ per acre) option.

Harvest Flood Option Payment	= (unharvested acres - deductible acres) x dollar value = ( acres - acres) x $ per acre = eligible acres x $ per acre = $

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