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Mar 6, 2023 | 16:44
1
Just received my insurance premiums for the 2023 cropping year with the new " individual premium". It has sure made a difference for my main crops.
70% wht 2022 $9.63 premium/ac
70% wht 2023 $4.63 premium/ac (with $60/ac more coverage over 2022)
80% cnl 2022 $24.10 premium/ac
80% cnl 2023 $11.94 premium/ac (with $75/ac more coverage over 2022)
However, any crops that I've had troubles with (barley, peas, ip cnl), makes it pretty easy to not want to grow them again. I foresee tighter rotations coming in the future.
70% field peas 2022 $15.20 premium/ac
70% field peas 2023 $20.77 premium/ac ($30/ac more coverage)
Does anyone know how individual yield is calculated BTW.. some crops seem awfully low. Thanks.
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Mar 6, 2023 | 17:12
2
Looks like we all get way different numbers.
Our 80% canola is 18.77 per acre premium.
Our 80% bly is 13.66 per acre.
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Mar 6, 2023 | 19:27
3
Looks like a much better plan. Should have been implemented years ago. The good farmers have been subsidizing the shitty farmers.
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Mar 6, 2023 | 19:48
4
What bu/ac does your $/ac of canola cover? And what is gross $/ac? Easier to compare apples to apples vs apples to cucumbers
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Mar 6, 2023 | 20:49
5
 Originally Posted by fcr
Looks like a much better plan. Should have been implemented years ago. The good farmers have been subsidizing the shitty farmers.
Or farmers with rain have been subsiding those shitty farmers with no rain
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Mar 7, 2023 | 00:16
6
What I meant was the farmers who put very little Fert down, don’t treat seed , spray for midge or decease, etc.I do know Scic has these habitual claimers on file but if they press the issue the farmer will appeal there claim denial and the appeal board almost always sides with the farmer. We have a couple in our area and in reality these guys prob are not farming for the long term.
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Mar 7, 2023 | 09:36
7
They have software to take claim history and turn into risk of them paying you.
Crop Averaging is lower risk for them... with coverage top up somehow calculated..
Insurance always costs more to those who unfortunately NEED it.
Humboldt office lady says farmers are LIVID and upset...her interactions indicate.
Last edited by fjlip; Mar 7, 2023 at 13:16.
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Mar 7, 2023 | 09:44
8
Originally Posted by fcr
What I meant was the farmers who put very little Fert down, don’t treat seed , spray for midge or decease, etc.I do know Scic has these habitual claimers on file but if they press the issue the farmer will appeal there claim denial and the appeal board almost always sides with the farmer. We have a couple in our area and in reality these guys prob are not farming for the long term.
There are places in the provinces where going all in on inputs is not a viable option.
You can spray for midge and disease all you want, but that wont make a sizeable diff in yield in some areas.
That said, these places shouldnt be gambling on canola either.
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Mar 7, 2023 | 10:34
9
For us the premiums dropped and coverage increased. That CAP premium option seems like a no starter the way I see it.
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Mar 7, 2023 | 11:01
10
Originally Posted by wiseguy
What is the cap option ?
I'm behind the times .
As I understand it one is blending all of your crops together, more of a whole farm approach to make rates cheaper but for me it doesn't work .
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Mar 7, 2023 | 18:24
11
Its weird . My wheat 80% customer is 13.24 wheat Cap drops to 11.23
Yet Canola 80% customer is 12.34 and cap jumps to 21.75
No cap for me. I have no idea how that works.
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Mar 8, 2023 | 08:43
12
For 80% here
HRSW - $3.77 , CAP $4.16 …. Coverage $472
Canola - $11.96 , CAP $7.56 .. Coverage $733
A lot of factors involved with ave yields and or recent claims . Very wide range of premiums and coverage.
Last edited by furrowtickler; Mar 8, 2023 at 08:47.
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Mar 8, 2023 | 08:57
13
Like all insurance. If you have a claim, your premiums go up.
Stopped at office yesterday.
Seen our history.
We are 120 k ahead of our premiums..so that's why we are stupid high premium.
Last edited by Partners; Mar 8, 2023 at 09:03.
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Mar 8, 2023 | 09:18
14
I dont know how the CAP is calculated but its way higher than my individual, so thats a hard no.
80%
Durum indiv $7.20, CAP $21.40 $425/ac
Canola indiv $9.07, CAP $24.51 $653/ac
Red Lentils indiv $21.20, CAP $21.20 $302/ac
Ag rep tells me lots of people getting out of lentils this yr. Too much risk, not enough coverage.
Last edited by jazz; Mar 8, 2023 at 09:21.
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Mar 8, 2023 | 09:25
15
My premiums are up $5 / acre and yield coverage down 2bpa @ 80% coverage on durum, compared to last year. Not because I am a shitty farmer , but because of 3 years of pathetic crops due to drought , which is a word some people haven't dealt with much in their careers. I wish drought wasn't in the equation , but the southwest can be a real adventure to live in.
Yippee shite !!!
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Mar 8, 2023 | 09:28
16
Nice numbers Furrow. My wheat coverage is 440 and 671 for canola. In the scheme of things ,that is still a bargin, a No brainer.
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Mar 8, 2023 | 10:33
17
Either calculation for us is only $187 difference?
Canola=$687 for $7.87, CAP=$15.21
Last edited by fjlip; Mar 8, 2023 at 10:36.
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Mar 8, 2023 | 16:18
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Originally Posted by GALAXIE500
My premiums are up $5 / acre and yield coverage down 2bpa @ 80% coverage on durum, compared to last year. Not because I am a shitty farmer , but because of 3 years of pathetic crops due to drought , which is a word some people haven't dealt with much in their careers. I wish drought wasn't in the equation , but the southwest can be a real adventure to live in.
Yippee shite !!!
Have lost crop to both flooding and drought (different years) so crop insurance is a factor on this farm. I would be a fellow shitty farmer. However in '22 we did have some decent weather on part of the farm and wowza could not believe the crop I got. Combine that with very judicious use of inputs and we have a field that is 99% percentile as far as generating margin per acre. Had another field of wheat 10 miles NW where the weather was not as good delivered only a mediocre yield. May all the assholes that are subsidizing the 'shitty' farmers be blessed with the kind of conditions I have seen in 2017 to 2021.
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Mar 8, 2023 | 19:46
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Originally Posted by fjlip
Either calculation for us is only $187 difference?
Canola=$687 for $7.87, CAP=$15.21
It sounds ridiculous to ever use CAP considering the chance of collecting will be a lot lower if all crops are averaged together.
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Mar 9, 2023 | 12:14
20
Originally Posted by Oliver88
It sounds ridiculous to ever use CAP considering the chance of collecting will be a lot lower if all crops are averaged together.
Its worth looking into but each farm needs to understand what its trying to and needs to insure. Any accountant that does ag taxes will have a nice software tool to show you the various options including coverage to premium costs. (You will need your planned crop acres and input budgets)
Your crops are pooled into a basket but you are receiving a higher level of coverage for reduced premium. A significant advantage in the drought of 2021.
The only disadvantage is I don't think you can use the in season price option.
Last edited by Richard5; Mar 9, 2023 at 12:24.
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Mar 9, 2023 | 12:36
21
I am surprised the CAP is not getting any love. I’ve never collected more than my premium in 13 years so my experience discount is big, but on the other hand my yields are nothing special seems like we were flooded out about 10 of those years just above crop insurance.
Anyway with CAP I get 88% coverage for the 80% premium level. And that 8% is the very expensive coverage level. I like having a gross dollar number I know works before I put a seed in the ground. To be honest this is the first year I have been pleasantly surprised with both my coverage and premium levels.
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Mar 9, 2023 | 12:47
22
Originally Posted by Oliver88
It sounds ridiculous to ever use CAP considering the chance of collecting will be a lot lower if all crops are averaged together.
But our Wheat, Barley CAP is stupid low, so depends on crop mix, either scenario is only $187 difference. CAP does raise coverage to 88%. If Drought or Flood on whole farm, works better.
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Mar 16, 2023 | 15:09
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$908 for $17.87 canola at 80% here
Rest too low
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Mar 17, 2023 | 17:07
24
Was told today our first experience discount has been taken away. Wow what a kick to the nuts.
Put the premiums through the roof then take the discount from us.
Was sent a letter couple months ago saying any bill over 100k will now need two signatures as a guarantors.
Couldn’t understand why, now I do.
Mr Maritt has some serious explaining to do.
Could be a revolt coming.
Absolute nonsense!!
Some program this is. Protect the farmers … haha line the pockets of these useless people in office.
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Mar 17, 2023 | 18:49
25
my truth
IP canola at %80 40.7 bu coverqge of 803.10/ac premium of 30.41/ac both cap or individual
hrsw @%80 44.6 bu/ac 454.13/ac 12.40
prremium easily double of last year but i did have a claim of 10x premium due to drought in 2021
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Mar 17, 2023 | 19:43
26
Looked again , canola actually $786 ,at 80%, 41.8 bu, for $15.32 , cap would be $17.88
The higher one was on summerfallow ? Which we don’t do ?
Wheat is $441 , at $9.22 , 43.4 bu for $9.22 , cap would be $6.45
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