Insurance for Multiple perils!

[SASKFARMER3]

Read about new brain child of some southern Sask Guys. For $154,000.00 they will help out.
Oh this years hail will be averaged out over the whole farm. So even if had 50 of 60 hit with hail and only 6 written off 100% guess what I'm good at math to no payment.
Its an insurance for those who want to risk it all and hopefully cover their costs with fed programs and this insurance.
That's my thoughts any one who looked into it and what are the pros and cons.
But when you own nothing, rent it all and lease it all its probably the program for you.

[parsley]

I read about this novel idea, quite shocking it is:

"Quit jetsetting, holidaying, pampering your family, buying everything that doesn't stand still, cut expenses in half, sell all boy-toys, grow your own food; save your money and bank it until you have enough cash to operate and live for one year without any income."

Isn't that madness? hmmmmm

Or not? pars

[boarderbloke]

any links?

[SASKFARMER3]

In last weeks western Producer my Canada post guy brings it monday. Hm another thing to bitch at.

[SASKFARMER3]

I have been approached to submit a 5 year accrued financial statement for this insurance program to determine a quote. Its not as simple as the article reads.

a) You need to have properly prepared financial statements (preferrably by a CA firm with strong Ag experience)
b) 5 year comparative statements are suggested
c) There a multiple points during the year in which verification process is quantified.

It basically eliminates all proprietor and partnership operations that don't prepare fully accrued financial statements. Most smaller accounting firms only prepare cash basis financial statements and therefore they will not be able to apply or be assessed their true profitability.

[SASKFARMER3]

So its part of the NMP program.

[SASKFARMER3]

I wouldn't say that (assuming your letters are mixed up in your reply)

There are lots of good accounting firms that know what they are doing. There are many that don't.

FBC would be one of them IMO.

And please don't tell me you are operating as a proprietorship for the acres you run.

[riders2010]

YeaH the link is WWW.BEND.OVER.for us, You have to give your what is it 5 year statements, so let me guess any one that has had good weather over that time period hey you can pay these guys to get something you already have for free. They are picking the SMART farmers, I hope they sign a whole bunch of SMART farmers and when the shit frost or hail or weather others got hit by, see how that goes and how SMART is gonna work. Just like it did this year all those stupid idiots don't know how to farm in 30 to 45 inches of rain imagine that.