How Many Carry Crop Insurance of Any type!

[SASKFARMER3]

Seems to me if the dry weather some are experiencing and by the look of whats going on in Facebook on some farm pages the stress level is getting really high for the dry area. We seen this with the flood years as the rains hit and then really hit. Foot of rain takes grain.
Well we took Sask Crop insurance as a main stay and then had hail insurance. Hail in the wet years took out lots of land and when it hit it was a 100% or less storm.
So yes a basic crop insurance of 70% and the hail along with some left over grain. That's our insurance.
What are others doing and are some just to big to fail and fly by the seat of their pants with nothing.
Just a question that came up yesterday in a conversation. Yes Sask Crop Insurance has problems but its a basic. Oh also who is just going to count on getting some thing from Agra stability if they have a disaster. That's a program that Gives and Takes back if you know what I mean.

[farmaholic]

No Crop Insurance
In AngryStability
In AgriInvest
Buy hail insurance
...very little debt
haven't had to use operating loan or line of credit for a while.

Things change quickly. A lot of money is at stake in this game.

[SASKFARMER3]

Agra invest I like the Feds cut that last budget on deposit!

[GOODRUM]

The guys that have been building margins in Agristability will likely trigger a decent payout, us guys who have been declining margins over several years of mud are looking at margins that won't cover living costs let alone cost of production. They know what's going on , most of the changes made to the cash advance program this year were directed at limiting their risk to bad accounts , I found more hoops to jump through than any other year.
Good luck to those in need of rain, there is no enjoyment watching your livelihood diminish in front of you eyes, and nothing you can do about it.
I think if this is your first disaster in a while your margins will be strong and the operating loan is not maxed out you will pull through, not fun but you should survive to farm another year.

[vvalk]

Sask3. Just curious. The last 8 "wet" years what has been your average yields during his time over every acre. So yes include your drowned out spots. I see on many threads your canola yields last year average was 32. Everyone's perspective is different so wondering if 32 is a totally disaster to you. As to Agri invest love the free money but let's not pretend it even matters in a crisis. Agiinvest has been around for 7 years. I havnt taken any money out and the total is about 5% of my gross revenue for 1 year right now. Agri stability, at least in Alberta, is eesbtuakly useless when they factor in 70% coverage whether you take that much or not.

[sawfly]

crop insurance is good. while it is not much more than cost recovery.
after 2002 with only 400 acres not a complete write off, out of 4400 acres ,
makes you think

acres and rates have changed but now a 40,000 $ premium is better than the chance of a 4-600,000 $ loss.

i try and seed crops in large blocks , to get some hail. insurance benefit.
but it never really works out simply because some areas are too rocky for peas.

in ag invest too. i used to think it was pretty good nest egg , until the last couple of years , when The grain co.s stole more than its value in basis in 2 years.

I sure do not want to collect.
but crop insurance takes a lot of the stress away at times like these .

[freewheat]

In Crop Insurance. NOT agristability, there is no point when margins are dropping, and negative margins are not covered like they were. If I trigger crop insurance, I would never in a million years trigger agristability, it would offset it.

In Agri invest, and vvalk is correct, it is a miniscule bonus package, not a life saver in a disaster. I wish they would ramp it up. Go to 5% of sales as a deposit, and get rid of stupid agriheartacheability.

I am not a well established farmer, I need to carry 80% Crop insurance. Not a lot of iron debt, but can never seem to clear the hump of needing to borrow to put in a crop, or pay for last years. Need advances, therefore need crop insurance at a high level. Just the way it is.

Now, had we had long term average crops in the last 8 years, I would have been WELL established, and would not have my back to the wall, where nothing is guaranteed. I never came into a farm that was financially set up or feasible, so it has been rough.

Here's hoping those that need it most, get it. And those who do not need it? Well, I hope they hit a home run too!

Finally, if SF3 DID get 32 bushel canola, who cares? I got closer to 40, but that means little when you have been digging a hole in the mud, against your will for the 10 years prior. It takes more than one reasonable year to make up for years of unseeded, 0 yield, years of 20 bushel crops, and years of wrecked land you have to fix, leached nutrients, and all those extra, hidden costs that happen in wet conditions, like unreachable bin yards etc.

So yes, I carry crop insurance. Thankfully, my yields are still pretty good, because they do not count unseeded crops as a zero. If they had, I would have diddly for coverage.

[SASKFARMER3]

Gee V it's a simple thread what do you do for insurance if you have a disaster or is your farm a sure crop area! Ha ha ha!
Better turn on your pivots!

[ajl]

Crap insurance is another program the government can get rid of. The only people that benefit are the ones that don't need it. Newer operations get the crap supposed average coverage that is far below potential. You can have problems and still not collect and get a nice premium bill. Worst case scenario is to get 80% of average. Last yr they were paying on irrigated durum around here that yielded 100 bu/ac because it was #4 grade so those farmers got paid twice on that crop. If the program was US style revenue coverage they would not have gotten a payout.

[ado089]

I really don't get it. I had to start from scratch with the rating. My yields are consistently 10-20% above rm average despite having some of the lowest assessed land, yet my experience discount is still non existent. I would have great coverage if it was 1962. 1/3 of last year's crops still in the bin and an early realization of what is coming is what will allow me to try again next year.

[blackpowder]

Farmers are interesting people.
In less than 2 minutes you can tell how much debt he has.
In my small corner of the world I would guess participation over 90%.
I feel although not perfect it works almost as intended. My long term premium to payout balance is almost even. Perfect world it covers your basic variable costs up to the level of your personal history. I will admit though that 80% coverage level has become the most basic of costs.
You can't engineer insurance to please everybody.

[makar]

A smart guy told me years ago crop ins is subsidised so should pay in the long term, 40 years later still true on my place.

[AlbertaFarmer5]

Have never carried crop insurance before. To start from scratch in this area with no yield history means starting at such a low level that it would take a complete catastrophe to ever get a payout. Would have to pay premiums for a lot of years just to get a yield history.
This year for the first time I did take out Lack of Moisture insurance( no yield history required) with the Hail Endorsement on about half the acres. Looks like the right thing to have done so far.

Being so heavily subsidized, it should be a guaranteed money maker, yet it doesn't seem to be, too many middle men.

I consider cattle, Hay, and the potential to salvage any crop with a baler or a cow to be my insurance policy. Along with the ability to go to work as required.

[AlbertaFarmer5]

I prefer to spend the money I would have spent on premiums on improving the land, so I am less likely to need crop insurance.

[ado089]

I've collected once on 100% hail on all my peas. They still made me combine. I almost got my seed back. They deducted that from the payment.