Sask Crop Insurance

[jamesb]

To those in Sask Crop Insurance: What level are you taking this year?
I have usually picked different levels from 50 - 70 % coverage because of price. As dry as it is I am thinking we will up all to 70 % at least. Do many of you take 80% ? We have hardly ever had a yield claim, have used too wet or reseed benefit in the past in the flood years.

[Guest]

80% on all except oats and barley
It’s good coverage for what it costs
2.1% for us on canola

[SASKFARMER]

Depends on most years 70% but this year 80% looks like for us.


Works.

[Sodbuster]

80% on everything, if you have been almost claim free over the years it doesn’t amount to too much with a 50% reduction in premiums.

[SASKFARMER]

I agree the discount is good.

New guys coming on board arent as lucky, but that stops the one year in one out crowd.

It's a money maker for the province.

[Dr Tone]

80% oil seeds and pulse.
70% cereal.

We long since lost our discount because of mother nature. Apparently things completely out of our control make us shitty farmers.

That said if it wasn't for crop insurance and working 1-2 different jobs our farm would have been on Ritchie Brothers already.

[Sodbuster]

Thank god for individual yields if we were still doing area averages like they did in the past I would no longer be in crop insurance. That was the best thing SCIS ever done for us, now if we could talk them into 10 year averages instead of the life of your contract average that would be another plus.

[SASKFARMER]

Yea life time yields suck because for us throw in 2002 frost and 2004 frost all early august.

[macdon02]

70% this year, next year im taking the july pricing option with 80%

[Freightshaker]

Thank god for individual yields if we were still doing area averages like they did in the past I would no longer be in crop insurance. That was the best thing SCIS ever done for us, now if we could talk them into 10 year averages instead of the life of your contract average that would be another plus.

It’s kinda a goofy formula where they take 90% of your previous individual average then add 10% from the most recent year. I honestly don’t know if thats how its always been? But this way it does account for whats happening as of late.

If you’ve had 10 really good years, your individual average will be “much” better than a 40 year contract average, but will “slightly” lag a 10 year average.

Any recent crop failures say in 2010, or 2020 will drag down the individual average much more than crop failures 20 years ago.

[Sodbuster]

I have a 40 year drag on my averages, which I feel I would be better off in a system like Alberta where they use a 10 year system where they drop off the oldest year. With the advanced genetics and seeding development a 10 year system excels, on the flip side if we were to hit a few dry or frost years then the 40year drag would start to look good.

[blackpowder]

Everyone a little different but.
Last time I "saved" money by over penciling and took 70% I lost 3 times the savings in crop loss.
Here at least everyone 80.

[Old Cowzilla]

I heard both Manitoba and Alberta reduced premiums

Positive

New contract just came in mail my premiums went up a bit but maybe thats just me.

[Sodbuster]

Checked my rates from last year, coverage is up due to higher commodity price and so is my premiums, but rates per a $100 have gone down on so.
2020 wheat @ 80% =$2.37/$100
2021 wheat @80% =$2.33/$100
2020 canola@80% =$2.35/$100
2021 canola @80% =$2.27/$100
So to sum up canola premiums are down 3.5% based on coverage and wheat premiums down 1.5%.

[jazz]

Been using 80% on canola and 50% on wheat and pulses. Canola is just too risky of a crop to go any less. Cereals and pulses a lot less risky now that we are into drier seasons but 6 or 7 yrs ago when we were getting a lot big downpours we were 80% across the board.

SCI gets slammed a lot but thats the most bankable program we have. The feds should torpedo that Agstability program and put the funds into provincial run programs.