All our petty arguments.....

[bucket]

That's enough sarcasm out of you today.

But just so you know I heard the Canada Pension Plan Investment Fund buys hail insurance on crops.....since it's a sure thing when it comes to ROI!

Well it was an honest question but if you want to call it sarcastic...fair enough...

I think I once ended up with a quarter on an insurance form that didn't seem right , I think if memory serves me I had the wrong range or township....went to correct it and the guy said it doesn't matter because the premium was paid but I changed it to my land.... I could have left it but I wouldn't have been watching for hail on that quarter...good for the hail company....

And for the CPP to be buying hail insurance ...I guess if they made their premium back plus 15 percent on hail it would be a good investment....although would 15 percent be enough to cover the cost of someone watching all that land or are you just talking the land the CPP owns????

[Oliver88]

Dumb question .....Can you insure land for hail that you are not farming? If there wasn't an issue as long as the premium were paid but you would have to be watching others fields for hail...

If you can.... it sounds like it could be a moneymaker....

For Municipal and Coop you can insure it still if you are the landlord.

[vvalk]

That's enough sarcasm out of you today.

But just so you know I heard the Canada Pension Plan Investment Fund buys hail insurance on crops.....since it's a sure thing when it comes to ROI!

Maybe I’ll explain this a little more slowly for the know it all coffee shop farmers on here.
First of all in Alberta you can take hail endorsement which is subsidized the same as regular crop insurance. So there’s your first $3-400. Then through companies like agdirect you can top up in my area at 3-4.5% ( remember I said that this doesn’t work if you have very high hail premiums) with canola adding another 1.5x. If your so inclined you can take the 10% deductible which takes a further 25-30 ish % off your premium. Guess what, you can put this on up to midnight the night before. So when it’s wet and your crop is getting better and better and there are lots of storms in your area you can top up another $50 or $100 or maybe $200. Now you have $5-600 an acre coverage. So when you get hail you get a nice big cheque and mostly say they give you 50% damage on your canola yet you still combine 30 bus or more. Or when you get to 90% you get 100% yet you seem to combine 20 bus ( in a cereal crop) or whatever. Take the time to drive with the adjuster around in the side by side no matter how long it takes.

[bucket]

Maybe I’ll explain this a little more slowly for the know it all coffee shop farmers on here.
First of all in Alberta you can take hail endorsement which is subsidized the same as regular crop insurance. So there’s your first $3-400. Then through companies like agdirect you can top up in my area at 3-4.5% ( remember I said that this doesn’t work if you have very high hail premiums) with canola adding another 1.5x. If your so inclined you can take the 10% deductible which takes a further 25-30 ish % off your premium. Guess what, you can put this on up to midnight the night before. So when it’s wet and your crop is getting better and better and there are lots of storms in your area you can top up another $50 or $100 or maybe $200. Now you have $5-600 an acre coverage. So when you get hail you get a nice big cheque and mostly say they give you 50% damage on your canola yet you still combine 30 bus or more. Or when you get to 90% you get 100% yet you seem to combine 20 bus ( in a cereal crop) or whatever. Take the time to drive with the adjuster around in the side by side no matter how long it takes.

And people wonder why hail adjusters are Richards after reading the above.....100 percent means you shouldn't be combining anything....

[vvalk]

And people wonder why hail adjusters are Richards after reading the above.....100 percent means you shouldn't be combining anything....

Really? Hard to believe you farm. It’s call hangers. Once the crop is knocked down especially a heavy thick crop they have to call it a loss even though you can sc**** it up. In canola once it’s starts poding they have to adjust it they can’t defer it. Its impossible to adjust any crop properly at the 30-70% damage and I find they always over adjust a little bit. You do have to sign off on the adjustment remember.

[bucket]

Really? Hard to believe you farm. It’s call hangers. Once the crop is knocked down especially a heavy thick crop they have to call it a loss even though you can sc**** it up. In canola once it’s starts poding they have to adjust it they can’t defer it. Its impossible to adjust any crop properly at the 30-70% damage and I find they always over adjust a little bit. You do have to sign off on the adjustment remember.

I don't know why I get into these threads ...I haven't bought hail insurance for a very long time....Last time was on canola and they wanted to defer the claim to see if it came back....that just pissed me off...


sorry for interrupting...

[vvalk]

And people wonder why hail adjusters are Richards after reading the above.....100 percent means you shouldn't be combining anything....

Or when you leave strips in the field because the adjuster Donets get there for 3 or 4 weeks and the wind comes up and blows them to there nothing left with ripe barley or canola Now your 50% loss is 80% and who’s fault is it they didn’t come for that long. Not mine

[vvalk]

I don't know why I get into these threads ...I haven't bought hail insurance for a very long time....Last time was on canola and they wanted to defer the claim to see if it came back....that just pissed me off...


sorry for interrupting...

Exactly my point. Don’t be a smart ass about shit you don’t know about

[furrowtickler]

Really? Hard to believe you farm. It’s call hangers. Once the crop is knocked down especially a heavy thick crop they have to call it a loss even though you can sc**** it up. In canola once it’s starts poding they have to adjust it they can’t defer it. Its impossible to adjust any crop properly at the 30-70% damage and I find they always over adjust a little bit. You do have to sign off on the adjustment remember.

So you never been wiped out to the stubble ? There are no hangers at all from the picture posted at the start of this thread. It’s been mowed to nothing ... that was the point of starting this thread.
We have been there , not fun . But easy adjusting. But all depends how much hail insurance one has or could afford . Some areas have had poor crops the past three years from drought remember. Not everyone have big crops and oil wells every year .

[farmaholic]

vvalk, no hail rider in Sask crop insurance(which I bet you knew anyway).
We will take deductible to lower premiums.
It would never pay for me to insure to the levels you're talking about with hail insurance only.
That amount of money would be better left in my pocket than to gamble at those levels.
I am definitely not ahead of any insurance premiums I pay....even at the modest amount I insure for.

I don't over insure my house hoping it will burn down. I don't over insure my crops hoping for a failure. I don't over insure my machinery hoping for a wreck. In fact over insuring isn't even possible for some items.

I do understand what you explained and how you got there.

But I do things different.

[vvalk]

So you never been wiped out to the stubble ? There are no hangers at all from the picture posted at the start of this thread. It’s been mowed to nothing ... that was the point of starting this thread.
We have been there , not fun . But easy adjusting. But all depends how much hail insurance one has or could afford . Some areas have had poor crops the past three years from drought remember. Not everyone have big crops and oil wells every year .

That’s when your coverage comes in. Hail risk is one thing you can control. Your hail insurance should match your crop value. I haven’t had a general rain in my area since June 2014 I have 30 bus barley coming yet I still have hail insurance on my farm. I have some fields that haven’t seen 10” of rain since July of 2014.

[furrowtickler]

That’s when your coverage comes in. Hail risk is one thing you can control. Your hail insurance should match your crop value. I haven’t had a general rain in my area since June 2014 I have 30 bus barley coming yet I still have hail insurance on my farm. I have some fields that haven’t seen 10” of rain since July of 2014.

Agree on that for sure , most of us do the same when we can . Thing is with crop prices and some potentially very late crops that are at risk to fall frosts , what’s the crop value ?? Easy to say not so easy to do text book in reality
Last fall was a perfect example , we had 60 bus hrsw right till harvest start .... 60 times $7 .... until it snowed , 3 times , then we ended up with 50 bus feed at $5.50 to a bit at $6 .... do that math .... you text book theory would drain your bank account by a lot more with no better outcome