We'll just got our flooded check! Groceries!

[SASKFARMER3]

That's not every acre it's 5 % off what I normally seed. So I lose 450 acres right off the gun. It's a bs program.

[SASKFARMER3]

And on hail we take hail insurance out every year this year we got hit first time in three years. But this defer till harvest bullshit is pissing me off.

[AlbertaFarmer5]

I will ask again. Is anyone making money on crop insurance, average over enough years? If the premium is subsidized as much as advertised, and the administrators don't take the lions share, then everyone should be making money on crop insurance. So who is?

[SASKFARMER3]

The province and Ottawa. Its all smoke and Mirrors. Crop insurance was set up to make money for the gov of the day. And it does.
Take this year on 160 acre quarter lose 20 acres in last few years to flooding. Flat quarter end to end 5 years ago. So you lose 5% which is 8 and they pay on 12 x 70 or 840 dollars. Its just under your tax bill. No production on the 20 acres in final yield number.
Now say its Canola with a 10 year av at 35 which they only insure what you pick so lets use 70% Your coverage is 24 bushels per acre x 140= 3360 bushels x 10 = $33600.00
Some are saying ohhhh that's real good.
Yea this is now divided figured out against every quarter of canola you seed. Seed 30 some are good some are piss poor guess what Sask Crop insurance wont lose very many dollars this year.
Why is real simple.
Your 140 acres has probably 20% drowned out. or 30 acres are gone. Your left with 110 now lets take half or 55 what you should have grown without flood and other at half that.
55 x 50 2750 bus plus 55 x 25 1375 bus.
2750 1375 = 4125 - 3360 (your total coverage)765 over.
But see here is the other problem if your going for 50 bus your inputs are for 55 on whole quarter or 8800 bus but your only going to grow 4125 div 160 = 25 bushel crop. That's it that's all she wrote. This is why Canada does not have a repeat of last year in 2014.
This is why Crop insurance wont have a huge payout.
Yes they will payout for Lentils Peas and some Canola farmers who had all seeded just after may long.
Insurance is always a win win for the insurance company it just lets you sleep a little better knowing a total crop failure you might cover your costs.

[bucket]

Just had the adjuster out for too wet.

Since the quarters around some of my too wet were seeded they won't pay.

Funny thing is they drove across my seeded fields to get to my too wet quarters.

I didn't finish the headlands on one field because it was raining, and they won't pay on the quarter across the road where I would have been next had I finished the field I was working on.

The neighbors fields were seeded is what I was told.

Phoned the manager and told him he better be looking at the neighbors fields for production loss claims as well then. Guy beside me put peas in when it was cold and they are decimated by root rot, mine don't look too bad definitely not a claim unless it hails.

If they are going to look at the neighbors when adjuting too wet claims, then the logic has to follow for production claims as well.

I will put money on it that they don't because they would have to be looking at the fields now.

[ajl]

If crop insurance claims premiums are 2/3 subsidized where is the money going? Most get less than their own premium back in claims. Where is all that gov't money going? Admin costs?

[SASKFARMER3]

Its a win win for govt.

[farmaholic]

We're not in it and our farm history says we wouldn't have missed much. I realize not everyone has that luxury. Survived this long without it.

[grrrr]

Here are my crop insurance numbers.

Total premium/acre.......$47.94.
Government pays..........$28.77.
I pay....................$19.77.
50% experience discount...$9.58.

I was shocked when I first saw these numbers. I am insured at 80%.

[bucket]

grrr

First thing that pops out at me - you really don't need crop insurance. You are basically self insured.

A job well done.

[ado089]

I really wish they would simply allocate funds on some sort of matching formula for approved risk management tools

[cottonpicken]

A long time ago i got into a war with 2 line companies,thankfully crop insurance and municipal where out first and they where fair,so i had paper work to show the bastard lines and it went on and on with about 5 old guys,even the heads yelling at me i just kept saying see you in court,they finally caved,they knew they where ****ed,needless to say i dont deal with any of those mother ****ing crook cheat *****s anymore.