How Many Carry Crop Insurance of Any type!

[blackpowder]

Farmers are interesting people.
In less than 2 minutes you can tell how much debt he has.
In my small corner of the world I would guess participation over 90%.
I feel although not perfect it works almost as intended. My long term premium to payout balance is almost even. Perfect world it covers your basic variable costs up to the level of your personal history. I will admit though that 80% coverage level has become the most basic of costs.
You can't engineer insurance to please everybody.

[makar]

A smart guy told me years ago crop ins is subsidised so should pay in the long term, 40 years later still true on my place.

[AlbertaFarmer5]

Have never carried crop insurance before. To start from scratch in this area with no yield history means starting at such a low level that it would take a complete catastrophe to ever get a payout. Would have to pay premiums for a lot of years just to get a yield history.
This year for the first time I did take out Lack of Moisture insurance( no yield history required) with the Hail Endorsement on about half the acres. Looks like the right thing to have done so far.

Being so heavily subsidized, it should be a guaranteed money maker, yet it doesn't seem to be, too many middle men.

I consider cattle, Hay, and the potential to salvage any crop with a baler or a cow to be my insurance policy. Along with the ability to go to work as required.

[AlbertaFarmer5]

I prefer to spend the money I would have spent on premiums on improving the land, so I am less likely to need crop insurance.

[ado089]

I've collected once on 100% hail on all my peas. They still made me combine. I almost got my seed back. They deducted that from the payment.

[iceman]

Well well well. Carrying grain over is a form of risk management after all.

Funny how all the former farmers turned "market advisers" have been saying for years you need to forward contract most of your grain before harvest

Can't wait to see them weasel outta this one

Clear for departure

[canolacrazy]

agristability does still cover negative margins. in fact they've increased the payout from 60% to 70%. however, the limited reference margin on expenses has gutted the program in a lot of cases and the trigger is now 70% of the reference margin so most payments are way less.

[Braveheart]

We have MB crop insurance. There's just too much risk these days between excess moisture springs and now frost/reseed issues. While coverage isn't great, it helps if peril hits. It's really not bad value when we only pay a third of the actual cost.

Don't expect to see higher coverage for the same or less money. That would no doubt violate trade agreements.

We dropped AgStability. It just never worked with the cattle here.

Those who thought they could self insure (high equity they thought) got really kicked in the nards a couple of years ago when huge acres in this area were too wet to seed.

[farmaholic]

Even if you have high equity, the capital outlay required to produce a crop is huge. Couldn't afford too many kicks in the nards. Everybody is in a different boat.

[Guest]

crop ins . at 70 % , canola at 80 , wouldn't be without it ! we carry about $150 hail ins. , collect every 2nd or 3rd year . wouldn't be without it . definetly carry agriinvest but got rid of Agra stability . hailed out on 20 quarters about 4 years back , no payout . looks to me if you carry ins . for everything ,agriinvest is a waste of time . least it was for us . and getting more of a waste every year and we had a very good margin . was good for our acct , though