Taxing crop insurance premiums

[vvalk]

How are you coming up with those dollars per acre for ins. integrity? For 2017, with 80% coverage, my full premium for argentine canola is $3.97/acre, for red spring wht.- $4.50/acre ( MB.) What are some of you sask. farmers really paying for crop in.? Would like to know. ( at 50% coverage .73 and .79 cents per acre respectively. very cheap to stay in crop ins.)

I don't understand these numbers and why so cheap
In Alberta here are an example or coverage at 80% and premium at 38% discount and then an additional 12 to 13% discounts for all acres insured, repeat customer and immediate payment. Which is the most you can get. Malt barely $320 coverage $8.8. Canola $360 coverage is $19.50. Durum coverage $293 is $7.80 We can add hail endorsement to cover those same numbers with a different premium $8.17, $16.17and $7.59 respectively and then add straight hail on top of that. So no straight hail but crop insurance and hail endorsement on canola for $360 coverage would cost almost $36 an acre. I've been told Ab has better crop insurance then sask.

[stonepicker]

Stonepicker, i had included my hail insurance costs in my previous post, my overall crop yield insurance at 80% coverage is $10 per acre for wheat oats canola soybeans. Hail insurance depending on crop, zone, and coverag rate can vary $4 to 10 per acre

I'm amazed, i'm assuming no EMI premium with that? You must have a very high dollar/acre coverage, or are you to the north? High risk area? ( like north of the park? )

[vvalk]

I'm amazed, i'm assuming no EMI premium with that? You must have a very high dollar/acre coverage, or are you to the north? High risk area? ( like north of the park? )

Not sure what EMI means. This is for southern Alberta. My comments before show the dollar value $360. Remember that's at max possible discounts included on the crop insurance portion at 0.62 or 38% then further discounts total 51% off. Doesn't apply to hail endorsement
I don't understand anything about $3.97 premium for canola coverage!!

[stonepicker]

Not sure what EMI means. This is for southern Alberta. My comments before show the dollar value $360. Remember that's at max possible discounts included on the crop insurance portion at 0.62 or 38% then further discounts total 51% off. Doesn't apply to hail endorsement
I don't understand anything about $3.97 premium for canola coverage!!

In my last post i was referring to mb's numbers. But by your prem. vvalk, i can see why some on here in the past have been complaining about crop ins. prem.. Wow, high prem., - EMI= excess moisture ins. ( you can put extra on in mb. )

[vvalk]

In my last post i was referring to mb's numbers. But by your prem. vvalk, i can see why some on here in the past have been complaining about crop ins. prem.. Wow, high prem., - EMI= excess moisture ins. ( you can put extra on in mb. )

EMI doesn't exist in Alberta that I know of
Straight hail through AFSC here is $10 per $100. That's a 7% premium. There is places by red Deer around 15% so around $25 for every $100 on canola.

[stonepicker]

EMI doesn't exist in Alberta that I know of
Straight hail through AFSC here is $10 per $100. That's a 7% premium. There is places by red Deer around 15% so around $25 for every $100 on canola.

Those are huge premiums! Are the private co's considerably cheaper?

[blackpowder]

Private cos not necessarily cheaper. Township by township case for comparison. Also, for hail rates.
A few places have higher value crops and or a lot of hail.
Honestly I have no complaints with AFSC. Some areas would disagree. Farm specific $ coverage.
I always take %80 Hi on everything.

[MBgrower]

Not sure what EMI means. This is for southern Alberta. My comments before show the dollar value $360. Remember that's at max possible discounts included on the crop insurance portion at 0.62 or 38% then further discounts total 51% off. Doesn't apply to hail endorsement
I don't understand anything about $3.97 premium for canola coverage!!

My rate includes emi. Im in the sc part of the red river valley. Here are some of my rates at 80 percent coverage:
Grain ,coverage, cost

Hrs ,245 ,8.15
Fd wheat 245, 11.50
Canola 275, 10.00
Soybean 326, 12.50

First time grain corn growers take it on the chin. Only guarenteed 85 bpa at 380 coverage at a cost of 20 an acre. You need a solid 5 years production to get your long term yields above the 85 bpa benchmark. This policy discurages many farmers from growing grain corn as the costs to grow it is substantial.

[Oliver88]

EMI doesn't exist in Alberta that I know of
Straight hail through AFSC here is $10 per $100. That's a 7% premium. There is places by red Deer around 15% so around $25 for every $100 on canola.

These are outrageous premiums but I would have to assume your chances of getting a hailstorm reflect these premiums.
Co-op Hail only operates in Saskatchewan and Manitoba.

[stonepicker]

My rate includes emi. Im in the sc part of the red river valley. Here are some of my rates at 80 percent coverage:
Grain ,coverage, cost

Hrs ,245 ,8.15
Fd wheat 245, 11.50
Canola 275, 10.00
Soybean 326, 12.50

First time grain corn growers take it on the chin. Only guarenteed 85 bpa at 380 coverage at a cost of 20 an acre. You need a solid 5 years production to get your long term yields above the 85 bpa benchmark. This policy discurages many farmers from growing grain corn as the costs to grow it is substantial.

Must be higher risk area? Your premium on canola is amost twice mine when i include my EMI ( virtually same coverage )

[MBgrower]

Must be higher risk area? Your premium on canola is amost twice mine when i include my EMI ( virtually same coverage )

Hail and high moisture zone. Soybeans by the way tolerate hail much better than canola, awesome crop. My canola acres have become insignificant, just some to spread out harvest, and seeding

[wakopa]

So after 40 posts what conclusion did we come to, that Manitoba has cheaper rates and that palister isn't screwing us?

[the big wheel]

Don't bother attacking me. But I went back many years and our premium hike really jumped 2 or 3 years after Sask party got in. Right about the time education taxes were lowered.

Interesting play!!!