Sask Crop Insurance

[TASFarms]

It took crop insurance till 2018 to figure out how much grain is in a bin. For years before that they always used the standard bushel weight. If your grain is 6 or 7 pounds above in standard bushel weight you get screwed.
@ 80% barley is $12 for 42 bushels/acre. The lowest barley crop I’ve ever had was 83 bushels/acre

[jazz]

It took crop insurance till 2018 to figure out how much grain is in a bin. For years before that they always used the standard bushel weight. If your grain is 6 or 7 pounds above in standard bushel weight you get screwed.
@ 80% barley is $12 for 42 bushels/acre. The lowest barley crop I’ve ever had was 83 bushels/acre

You are thinking of SCI as only production insurance. It does poorly there, but it excels with things like spring flooding, reseeding and establishment claims. I had a quarter eaten off by beatles and was paid to reseed it.

It also acts as a partial hail insurance or windstorm damage as well because on average the production coverages they offer could only be met with that kind of disaster. Lot of guys had late season shelling in standing canola here last yr. Some had swaths that blew.

[LQQKY]

Has anyone used he variable price option in the past and is this the year to use it? Is this what you referred to as July pricing option MacDon?

[therealnorthernf]

has anyone else taken the Whole farm coverage(I'm not sure if that is the right name of it)? My coverage is at about 91% of my personal yield with a cost of 80% coverage..

[blackpowder]

Usually the variable price premium amounts to a very expensive put option.

[macdon02]

Has anyone used he variable price option in the past and is this the year to use it? Is this what you referred to as July pricing option MacDon?

The variable pricing only kicks in with a yield claim, so if moisture conditions are making you think this could get "dirty" it might be worthwhile looking into. But if you are reasonably confident you'll be above a claim situation it's only going to benefit them. What im seeing on cycles says it's 2022 that should be the big one. Not saying your backyard is immune this year, but it could be a multi year event.

https://www.scic.ca/crop-connect/cropconnect-help-premium-calculator

[bucket]

How yous make out after you finished the 2020 spring thrashed canola ?

Any insurance company can take a premium it's how well they pay when disaster strikes !

SCIC estimated my fields left out ...durum had no claim as I had covered my production with what was harvested...The flax got to stay out, none harvested , estimated yield was over guarantee...no claim but I got to say my grain in the field was inventory on my Agristability...no claim either...

[Sodbuster]

Pretty hard to beat SCIC for coverage, I’m paying something like $40K for close to $2 million coverage, Agristability I don’t think you will ever collect. Doesn’t take much of a claim to o pay your premiums.

[Freightshaker]

Pretty hard to beat SCIC for coverage, I’m paying something like $40K for close to $2 million coverage, Agristability I don’t think you will ever collect. Doesn’t take much of a claim to o pay your premiums.

Agreed. Most 50% discount customers are likely $11.50 premium for canola coverage of $500.

The way I look at it bound to have one wreck in 45 years.

[poorboy]

Macdon02,

You say 2022 is going to be the big one from following cycles. Can you elaborate a little more please? High or low prices in 2022 or are you talking drought/wet?

[TASFarms]

Pretty hard to beat SCIC for coverage, I’m paying something like $40K for close to $2 million coverage, Agristability I don’t think you will ever collect. Doesn’t take much of a claim to o pay your premiums.

$40500 premium will only get me to $650000. Risk zone 16

[helmsdale]

Jesus, you guys make me mildly jealous...

$40K for $2M coverage is stupendous!

I'm private because AFSC essentially forces me to be. Went bare ass the first 5 years of farming, then started shopping around when custom trucking rates went to shit and I realized there was no way to soak up a loss anymore.

They deem Dad and I to be distinct operations, so I cant grandfather in with his personal average, and therefore have to take the "area average" which is entirely god awful!

In 2018, if I started out at the area average I was covered for the following with a hail endorsement:

Red Lentils: $149/ac @80% for $31.67/ac
Yellow Mustard: $137/ac @80% for $32.89/ac
Yellow Peas: $183.17/ac @80% for $20.48/ac
CWAD: $137/ac @80% for $15.87/ac
CPS: $98/ac @80% for $19.23/ac

#winning!

[Freightshaker]

Red Lentils: $149/ac @80% for $31.67/ac
Yellow Mustard: $137/ac @80% for $32.89/ac
Yellow Peas: $183.17/ac @80% for $20.48/ac
CWAD: $137/ac @80% for $15.87/ac
CPS: $98/ac @80% for $19.23/ac

What the hell!!!!

[helmsdale]

What the hell!!!!

Most guys around here own a baler... if they're even close to a claim, they make damned sure theyre thoroughly into one before the combines roll.

Absolutely ruins it for guys trying to get into the system. Sure you can build your own average after 5+ years without a hope of claiming (unless you want to rent a baler), but those kinds of numbers are RB auction territory with today's inputs for a guy starting at "area average".