I know I have asked this a couple years ago , but just wondering what people are thinking now ? We are in tough shape with water and ruts for this years crop . We are thinking of topping up crop insurance and hail insurance with gars .Is this feasable ? We still have good crop ins. coverage but that can change pretty quickly if we get a couple more years of this shit . I don't know anything about this program and I would appreciate anyones input on this .Thanks
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When I had them explain the program to me, my first thought was that this would not pay out ever so I would not touch it. Even with garbage durum, if you had any canola acres they would have subsidized that loss with a decent canola market this winter. If you have any amount of snow, the best bet is unseeded acre coverage. Here we have little snow (thank goodness) so I think spring conditions will be fairly normal in this area unless March gets snow. Then all bets are off.
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There are people who can independently show you how it works and how it could fit your farm. There is another type of company offering something similar however different called Just Solutions.
I was fortunate enough to be at a presentation in Saskatoon in December where all three companies did presentations on their products (#3 was crop insurance)
Not convinced yet that Gars or Just solutions will be better than Crop Insurance/AgriStability and a good balance sheet for my operation.
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I understand why people are looking to have their asses covered instead of exposed to the cold north wind of misfortune. But insurance is just that, insurance, and not meant to be profitable. Even the illustrious Ag-Stab(me in the back Ritz) is basically whole farm.
How many people are using Ag-Invest proceeds to help cashflow their farm(having a hard time keeping a straight face after typing that) or is it a small pool of accumulated money to "help" bail you out of a tight situation?
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Crop insurance works if I get a shitty hailed out barley crop they don't basket my canola and wheat and peas and pay me shit all for 100000 premium.
Insurance is insurance.
Would you insure every home on your block with yours. No.
So why throw all your crops into a insurance.
Also ritz useless Agra stability is just that useless shit.
Ag invest works.
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crop ins sure was a life saver here this year . when you have a real disaster like here was this year it helps. I am more worried down the road if we get 3 years of this shit . at least it only baskets each crop type and even separated IP canola from regular canola . our ip canola was a write off . we grow about 10 different crops so that helps . I agree Ag stability is a complete waste of time (got out years ago) and sounds like gars is as well
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The better accountants and forward thinking bankers are looking very hard at Gars/ just solutions. I'm like most, the deal sounds ok but I need evidence that it pays out. I expect that if it is going to be viable long term it will have to evolve into something that is truly better than the traditional crop insurance and ag stability. The jury is still out for sure.
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