Global ag risk solutions

[Richard5]

Does any one use this?

Tell me how you will be better off with this program in a year like this?

If you have $80 into fert, $30 into Chem and maybe $30 into seed on avg, that's $140 in which you can buy a $100 over this for coverage. So if you gross over $240 you get nothing, if you gross zero you get a $100

If my farm gross is only $240 I will be showing pretty big accrual loss on my financial stmts and I feel I have a good handle on equipment investment, family draw and overhead.

And some of you complain about crop ins and agristability but I think this program is a huge money grab and pushy sales pitch

[TOM4CWB]

Richard5

I agree.

Just paid our $154K AB crop/hail insurance bill.

I consider this insurance to be a long term risk management program for multiyear participation.

Our family can sleep at night.. and at a little under 10 percent CI premium with 6 percent hail to expected coverage... plus spot loss hail.

[JDGreen]

If you gross zero you get $240 not $100..

[Oliver88]

For someone in a claim position for Sask Crop Insurance the choice between "Variable" and "Base" coverage could be significant this year.
The Variable coverage is set based on the July 31st prices base coverage was set in the winter.

I'd like to explain how GARS is better as well and provide some math examples.

Good topic.

[iceman]

The GARS guys favorite line this spring is
"I'm spraying cause I'm covered with GARS" spray on fellas.
New farmers or guys with no experience discounts or bad yield guarantees are the first to join. IMO they're picking the low hanging fruit.

Out

[JDGreen]

If you grew 30 bpa @ $8 = $240. Market drops to $6 x 30 = $180 now GARS owes you $60 an acre. Gars is guaranteed revenue to which you purchase your chosen level of coverage. Crop insurance is yield based coverage. Totally different. Not apples to apples.

[JDGreen]

Iceman you have got to be joking. GARS won't even look at insuring you unless your highly profitable and low risk. Insurance companies aren't that stupid. Oh wait a minute crop insurance will insure anyone with a pulse speaking of low hanging fruit.

[iceman]

JD Green
It works both ways. All your pulses get hailed out and you cut 50bus of durum at 10 bucks you make $500. And than the GARS cheque rhymes with HERO.

In crop insurance because it's per crop. You get paid their set rate on the pulses.

Out

[Richard5]

Yes that was a typo on the gross zero is only a $100. Should be $240.

I still think on a zero production I would net out more from crop insurance and my premium would be way less than the $17 base quote once you are trying to get 100 to 125 in coverage.

It's also a real income reconciliation meaning that if you grow half a crop and sell from a twice the propice then that comes off the claim.

Although crop ins prices are a bit out of line now compared to market, you wouldn't have this same implication

[Nudge]

That's exactly right jd. And GARS will insure well over 100 per over seed/fert/chem. But gotta have the track record to support it. Personally crop ins with good yield history, max experience discount and in season price are a better choice than gars.

[Richard5]

JD, when GARS first came out it was supposed to be for the best of the best.

But the sales have not been very good so they pretty much insured anyone with a pulse this year

[JDGreen]

Iceman if you can be hailed out 100% on lentils and then yield 50 bushels of durim right beside it. Then keep waving your magic wand. Richard everypnes quote is different and depends on your financials and management practices. 17 is on the upper end of Their quotes. Low end is 9 for the same coverage. Personally for the revenue I am insured for with combination of both Gars and crop insurance I sleep well at night. No worries at all. Don't buy hail insurance as I enjoy Vegas more.

[JDGreen]

Let me be clear. Crop insurance and Gars are totally different animals. I am not advocating one over the other. As I stated I am involved in both, however both premiums Combined are much much lower than Richards 17 he stated for gars only.

[iceman]

JD Green it's insurance. They will insure most people. The premium will be adjusted to reflect the level of risk. Stop making it out to be a elite membership.

What I would like to know is why in the F does bayer give GARS members a ridiculous rebate?

Pissed

[TOM4CWB]

JD,

Great that we have choices... and can stand without need to be taking advantage of our City Cousins(AD Hoc)!