Devils Advocate out of my depth most likely

[ajl]

The main culprit inflating land was non stop central bank money printing. Crop insurance role is minor. Interest rates got a lot lower here than in Australia, so that is why land is a lot higher. There is no way that rates would have gotten as low as they did with the amount of debt out there in a free market environment. This government sponsored cheap debt extravaganza has hurt the structure of the industry tremendously and done real damage to many who should have been in the ag industry in Canada.

[farmaholic]

Captain Obvious comment: "everything I do to try and reduce my premium diminishes my chance of collecting a benefit"...... self defeating.

I know guys in crop insurance who don't even insure their whole crop to save money on the premium.

Why bother?

[malleefarmer]

We insure for fire, some do fire and hail.

My dad never insured his theory which was probably flawed, when i started doing it, "so son your betting your gonna have a fire or hail event, insurance companies are betting you dont house always wins" not sure if he was right or wrong.

We are a high risk hail area.

So with all the above posts am i half right?

Multi peril crop insurance here what farmers want is insurance against price falls and yield falls "income protection" if you like and the way i see it unless you have almost total wipeout they dont pay.

High rainfall guys wont have a bar of it as they reckon there subsidizing the low rainfall guys, its a tequila bottle full of worms or if you dont drink a can of worms

[the big wheel]

who is crop insurance a subsidy to?
Sask party government took out 1 plus billion out of the program to make their provincial brokenness plan look better.

Afcs writes off 15 bushel crops from road? In sask you cAnt get a 5 bushel
Crop wrote off even after a guy spends half a day counting plants that aren't there beyond stupid. But I guess to some genius it pays to
Spend money on adjusters hours to screw people out of coverage. In some areas where there was no rain over 3 or
4 years now there is no coverage and on top of it they have to be ***** and turn over rocks to find crop count to not pay out.

But hey more farmers that go broke better for walls friends in the land business all the capital gang........ag capital input capital? Iceman investor capital. Hahahaha

[SASKFARMER3]

Our systems aren't winners by any means they give you just enough rope that you dont hang your self and put a crop in again next year.

You dont make money on crop insurance or the useless AG stability or what ever else they change the name to.

Private insurance is showing its true colours this year with lots not getting much.

Insurance is insurance.

But funny topic had a conversation with a few bankers i know and all said none of my kids could walk in and purchase our farm and hope to make a go of it even if they would borrow the money to them.

I knew this but its interesting coming from Bankers.

Ah Imput capital will help it happen.


HAHAHAHAH

[farmaholic]

But funny topic had a conversation with a few bankers i know and all said none of my kids could walk in and purchase our farm and hope to make a go of it even if they would borrow the money to them.

Geez, those are some smart bankers! They should be in Corporate head office! Anyone who has a calculator could have figured that out, even a Sandbox farmer from the Slum of the Ghetto!

[sawfly1]

I do not know why I do the 27-32,000$ premium ,other than 02 and hail. 02 would have been zero without CI.
And if you can block seed a crop and save on hail insurance. That helps too. Hail insurance is not cheap
Either. 200$/acre at 4% is 8$/acre. At 7.5% it is 15$.
Close to the same $. As Ci. But
You get a big drought risk included

[malleefarmer]

Multi-peril crop insurance pioneer, Latevo, is returning to the farm income protection market in 2018 after bowing out last season.

The company, which first championed multi-peril insurance in 2014, says it has re-configured its coverage plan to provide a more cost-effective and comprehensive income protection solution than before.

It was conscious farmers had been reluctant to commit to past coverage by various emerging multi-peril coverage providers, uneasy about the upfront costs involved.

Latevo’s new farm income protection plan’s cost is equivalent to the price of a summer spray – roughly as much as half the price of its old insurance model.

“That’s exactly the sort of price range farmers and their representatives have been calling for,” said chief executive officer, Andrew Trotter.

Price points will range from $14 a hectare, to a maximum of $26/ha for sizeable coverage of up to 90 percent of average crop income.

“To deliver the correct price we needed to find like-minded partners, and we’ve been able to find it with certain underwriters at Lloyd’s”, he said.

Last year, the company’s early momentum in the market stalled when it was unable to lock in strong enough underwriter commitment for the 2017-18 cropping season.

Latevo’s revised plan is based on a customised crop income protection model to recover cropping costs if a farmer is hit by the devastating effects of drought, flood, frost, heat stress or other designated perils.

The new model splits in three categories enabling progressive coverage during the season, depending on seasonal conditions and the growers’ choice.

“Changes from our original product make the offering far more specific to the individual farmer,” Mr Trotter said.

Latevo had also invested significantly in technology to make the application process more refined and user-friendly, via an online application process.

To gain a full understanding of a growers’ financial history and offer a competitively priced solution the individual financial assessment component will be provided by Agri-Analytics, simplifying the application process.

Operations head, Felicity Nolen, said providing the best price point involved a high-level of due diligence to assess each farming entity on their individual merits.

Latevo will also launch a crop monitor, which incorporates an on-farm weather station.

The custom application, developed by Geosys, integrates its proprietary algorithms to better monitor crops throughout the season.

“The addition of the Latevo Crop Monitor to both our underwriting and client offering is a massive step forward in helping farmers achieve potential yields,” Mr Trotter said.

“It allows complete transparency when moving from category to category during the season.”