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Schochoh Ky | I think you can get by with as few as three years crop history on yields , but I'm not positive , someone else chime in if I'm wrong. If you have decent yields three years back , you can use them to project this years revenue on the corn and beans . One problem I see with your deal is you said the wheat was a bust two years in a row . This will hurt your gross farm income and also lower your yields for projecting next years crop income. Although they don't figure 2016 until next year . Think the three crop mix you have will lower your premium . Also if you bale straw and sell it , it is also counted as a crop, and its insurable.Each crop must contribute at least 17% of sales, so your crop mix is important. What I'm seeking to do with this crop policy is to grab 250000-400000 in risk exposure , I have , that is not insurable with an RP policy. Some say this is impossible, but with the decline in prices, most have a gross farm income decline from previous five years.By using the last few years for yields instead of rma s , ten year history, I can pull yields up 10% and increase projected income . Hope I have made scence, it's hard to wrap your mind around it. | |
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Whole Farm Revenue Insurance Policy?
