Agri-CAP (Agricultural Capital Assets Program)
ISO's Agri-CAP® (Agricultural Capital Assets Program) is an output policy providing broad coverages and pricing flexibility for medium-sized and large farms and agricultural-related businesses, including:
- agricultural processing operations
- dehydrating facilities
- grain storage facilities
- mill operations
- poultry operations
Here's what you get
We've designed Agri-CAP — which includes policy forms, endorsements, rules, and loss costs — to meet the requirements of today's customer.
With your Agri-CAP participation, you'll also receive ISO's Agri-CAP Premium Calculator software to help you rate accounts that you quote under the program. The software lets you document your pricing rationale. And it allows multiple users to store account information on a LAN. Home office staff can perform quality reviews on each account's documentation and pricing.
Our program provides blanket replacement-cost coverage, without a coinsurance provision, for buildings (including dwellings) and most business personal property. Other valuation options for those types of properties include actual cash value, functional replacement cost, and agreed value. And there's an option to schedule locations with a coinsurance provision. Agri-CAP also insures household personal property at actual cash value with an option to select either replacement cost or agreed value.
You can write Agri-CAP as a monoline policy or package it together with other ISO products, such as general liability or commercial automobile, in a commercial package policy. Agri-CAP coverages include property, inland marine, business income, and crime. The program also includes built-in coverages commonly offered as add-on options. And our deficiency-point method for developing the policy premium lets you apply appropriate underwriting judgment — similar to that used in the nonfiled inland marine business — and tailor the price of the policy to the exposures of each account.
Agri-CAP provides automatic-increase coverage for buildings, business personal property, and household personal property. The program includes many optional endorsements — such as coverage for livestock and poultry — to amend coverage and/or limits of insurance.
ISO's Agricultural Capital Assets Program basic coverage form includes all the following key coverages:
- accounts receivable and valuable papers and records
- automatic replacement cost
- blanket building (including dwelling), business personal property, and household personal property
- brands and labels expense
- bulk liquid tank storage
- business income and extra expense caused by dependent properties
- business income, extra expense, and dwelling loss of use
- business personal property off covered locations (worldwide)
- crime including employee theft, money/securities, and forgery
- debris removal
- electronic data
- fine arts
- food contamination
- fungi, wet rot, and dry rot (limited coverage)
- grave markers
- hay, straw, and fodder
- household personal property off covered locations (worldwide)
- household personal property refrigerated products
- installment sales property
- mobile equipment
- ordinance or law
- property in transit