Hail Insurance

[Braveheart]

Not yet. There's a tornado on thee ground 12 mile south of us right now. Sounds like a train going through here.

[grassfarmer]

Good luck and take care!

[biglentil]

Hail insurance premiums are damn near crop insurance premiums. They need to get a grip, i'll pucker up instead. Negative expectation bet foresure much better odds at a casino. Don't feed the vultures!

[farmaholic]

Hail insurance premiums are damn near crop insurance premiums. They need to get a grip, i'll pucker up instead. Negative expectation bet foresure much better odds at a casino. Don't feed the vultures!

More importantly biglentil what are your rates. I think I have a township/range at about 2.3 or 2.4 %. The other one is about 1% higher( I will check).

You can look at it two ways...the rate is low so it must not hail much so don't bother or it's cheap and you should insure...about $5 for $200 of coverage for basic crops.

Dilemma?

As you might know...I have no Crap Insurance...maybe I should at least cover the hail peril.

And if it's really bad....Ag Stability will keep me in Kraft Dinner and wieners til next crop....hopefully!

...checked, 2.3 and 3.8 paid by Sept 30

[furrowtickler]

North of Biggar ..

[helmsdale]

Not entirely sure how sk/mb crop and hail insurance work... if you are going to take hail insurance in ab at a respectable level, especially on specialties, its worth taking the hail rider option on crop insurance. My wife's aunt works at AFSC and she says that many in the hail zone, take the rider on crop insurance, even though likelihood of a crop failure is very low because rates are 15+% on straight hail, and 1.5x on peas/lentils, and 1.75 on things like mustard.

5 townships im in are 7%, one is 6 if i recall... in my instance, to get the same spot loss crop insurance would have offered, would cost 60% of the cost of straight up crop insurance. They claim they are only charging you 37% of the rate, and it is spot loss. If it hammered enough of your acres of one crop, and drove it into a claim position, then you stand to get paid twice.

[helmsdale]

correction on my last post... just pulled the afsc risk map, and the highest %'s in alberta are 14% in hail alley.

[sumdumguy]

correction on my last post... just pulled the afsc risk map, and the highest %'s in alberta are 14% in hail alley.

Brutal!

[SASKFARMER3]

We got hailed out like last nights storm back some 10 years ago on about 21 quarters at this time of year.

The adjuster handed me a text from management that said no payments they were evaluating what would come back and pay later.

I just about lost it.

[farmaholic]

helmsdale, no spot loss hail in Sask Crap Insurance