Taxing crop insurance premiums

[ColevilleH2S]

Holy shit, you guys got it cheap. I just checked mine, and even with a 26% experience discount I am still paying 5.5% for 80% Canola coverage.

[stonepicker]

Are you on 10 year average for
yields or area yields stone?

There is a base avg. yield, also there's your ipi ( individual productivity index ) so if your growing above avg. crops, you get above avg. coverage. My premium for wht. with 267.26/acre coverage is $4.50/acre ( %80 coverage ) Imo that's a reasonable price to pay so that i could slide through a complete crop disaster with minimal effect. My premium discount is %20. As far as hail ins., i always go private. Hail ins. prem. last year averaged $4.41/acre ( $200. or $250./acre coverage ) can't find last years hail ins. contract, so not sure of coverage

[stonepicker]

Talked to a crop ins. adjuster a number of years ago and he said they were told to give the farmer the benefit of the doubt, but don't be santa claus.

[Guest]

We pay approx $11 /ac for $435 coverage on canola at 80% in sask , premium discount about 35 % i think

[Sodbuster]

There is a base avg. yield, also there's your ipi ( individual productivity index ) so if your growing above avg. crops, you get above avg. coverage. My premium for wht. with 267.26/acre coverage is $4.50/acre ( %80 coverage ) Imo that's a reasonable price to pay so that i could slide through a complete crop disaster with minimal effect. My premium discount is %20. As far as hail ins., i always go private. Hail ins. prem. last year averaged $4.41/acre ( $200. or $250./acre coverage ) can't find last years hail ins. contract, so not sure of coverage

So in MB if you take your experience discount off your paying a 2.1% premium for wheat.
In SK with my experience discount taken off I am paying a 3.7% premium for wheat.
My $ coverage was similar to yours. So what gives, that's a huge difference in premiums.

[stonepicker]

We pay approx $11 /ac for $435 coverage on canola at 80% in sask , premium discount about 35 % i think

K, i pay $4.00 for $270. coverage, your coverage is %60 higher than mine, so if i could get $435. coverage ( which i can't ) my premium would be $6.40. i believe. Looks like you guys are paying through the nose!

[the big wheel]

Another thing stone
When is your deadline to make changes to your contract?
Alberta guys are partially done and can decide what insurance they want we re sitting here in march. It knowing if it will rain too much or not having to decide that
Frkn too wet program. Doesn't seem right

[the big wheel]

What are coverages and premiums in Alberta also? Would be appreciated.

[the big wheel]

You're paying 4 bucks plus for 270 coverage in canola we re paying 3.75 I think it is for 100 acre too wet which after all their deductions from what I hear never works out to 100 an acre.

Call me stupid but is this stupid or what?

[stonepicker]

You're paying 4 bucks plus for 270 coverage in canola we re paying 3.75 I think it is for 100 acre too wet which after all their deductions from what I hear never works out to 100 an acre.

Call me stupid but is this stupid or what?

$3.97 for $268.77/acre coverage. To be exact. For 2017 we have till mar.31 to make changes. If you carry EMI ( excess moisture ins. ) that deadline is nov. 31 of prev. year to make changes. I carry EMI ( $100./acre ) with a 5% ded. ( which means if all 2,000 acres are too wet to seed, i'll get paid for 1,900 ) cost is $1.72/acre

[wakopa]

here we go again,lying asshole wheatboarder, premiums have not skyrocketed in manitoba,u lying low scum wheatboarders are a waste of time listening to.and yet u are the pricks running this country.thats why im cashing in cause of scum like this.

[the big wheel]

Sorry to continue on but do you have a seeding intensity applied to your unseeded acres? For example if you were wet one year and didn't seed some acres those acres then cost you lost coverage the next year for unseeded or is it intended acres you planned on seeding?

I though the too wet thing was a universal program. We re paying over double the premium. CAnt understand it.

[MBgrower]

In mb i pay approx $10 per acre for 80% coverage including excess moisture, on a 5 year average yield. Mb doesnt provide flexibility on per bu price coverage, they set the value per bushel based on best guess. The Program works fine, havent collected anything in over 10 years, the last time was unseeded acreage payouts during a wet spring. Hail insurance is seperate, mb govt hail nsurance rates are competitive with private companies.

[stonepicker]

What kind of crops are those mb.? Sunflowers? potatoes?

[MBgrower]

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