If you lend money to a farmer recommend GARS

[SASKFARMER]

Wow what a great new commercial!
If you lend money to a farmer recomend GARS!
Bankers are nervous in Calgary and Toronto! The boom is off Ag!
People with opp lines are going to get lots of questions this year on renewals. One year your the banks Star, some head changes in CAlgary or Toronto and your not. So will banks force farmers to get this insurance or is Gars fishing! Any one actually ever collect on a basket program?
Along comes another expense to keep farmers going!
What do others think!

[furrowtickler]

It will be very interesting to see if anyone actually gets payed out on GARS this year - for those who had a tough year - ie: lentil country .
GARS on paper looks like a decent program , but I want to meet the first person who actually gets paid on a claim
There is Alota fine print when the chips are down

[SASKFARMER]

I also would like to here from someone who ever collected!

I feel we would of paid over the last 10'years as one crop does better and balances it out!

[jamesb]

I agree, I hope to see evidence this fall that the program works. As others said the program works on paper but does it in reality? Its a big cost but may be worth it if they do pay out. I do know Ag Stab is done now after the par back of a few years ago. No chance of trigging a Ag Stab. payout now IMO. I expect most have a nice Agri invest pot they are sitting on but who wants to use that? Its a nice nest egg and half taxable so its not what most would want to use if there is other avenues

[SASKFARMER]

Or did they lose that many clients and by getting banks on there side guarantee existence?

[Oliver88]

I think the bank would be safer recommending crop insurance instead of GARS since there is a more likelihood of triggering a payout.

I haven't viewed the commercial being referred to though.

[iceman]

Will Gars even make it until next year?

Heavily exposed in the Rosetown swift current corridor. We all know what's happening there. But if they don't payout to those guys than why even have it.

Iceman out

[furrowtickler]

Agree , this is the year of the true test .
I will wait and see what happens from that area as well .

[HappyFarmer]

I think your off on that one oliver...but also I guess it depends on how much the guys is covered per acre in GARS vs CI.

Will be interesting. You guys is sask get royally screwed O you CI coverage. Were lucky in MB.

[Guest]

I think your off on that one oliver...but also I guess it depends on how much the guys is covered per acre in GARS vs CI.

Will be interesting. You guys is sask get royally screwed O you CI coverage. Were lucky in MB.

really ? what are your coverages in canola ? we are about $350/ac , interested to know

[seabass]

Closer to 450 in Mb. Depending on long term avg.

[HappyFarmer]

really ? what are your coverages in canola ? we are about $350/ac , interested to know

Well maybe you called bull shit on me then case....i did not realize you were that high. I understood that is was generally $100 pe acre less than just across the boarder for canola for almost twice the premium generally we are 375-400/acre coverage for 8-9 bucks premium.

[Oliver88]

I think your off on that one oliver...but also I guess it depends on how much the guys is covered per acre in GARS vs CI.

Will be interesting. You guys is sask get royally screwed O you CI coverage. Were lucky in MB.

The reason I mentioned crop insurance is more likely to trigger a payout is due to it insuring each crop separately.

I hope I'm incorrect and that GARS pays out better that crop insurance due to higher coverages.

[ajl]

I think good basket revenue insurance is a needed and would be a great tool to have. It just that GARS and Input Capital are in this gap but are exploiting farmers limited math skills by charging waaaaay too much premium for the tiny bit of risk they actually take on. I find it hard to believe that crop insurance is as subsidized as they claim when you compare payouts to premium paid over the years. It does make sense when you factor in admin costs with senior managers here at AFSC under investigation due to being on the take.

[Oliver88]

How does Input Capital have anything to do with GARS or production insurance?....I don't follow.

Input Capital is a VERY expensive line of credit/cash advance for canola growers.
Going by the numbers I've read about their program, it appears a farmer might pay 20% interest on the line of credit?....they should have lots of $ to hand out pails at every trade show.
Anyone with experience with this company can feel free to let us know what they know.