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Northern Indiana | I agree. Crop insurance, regardless of who your agent is, is all the same.
It is subsidized by the Farm Bill. Each county may be a little different, but yours and your neighbors policy offerings are the same for the same historical yield.
And that is where the catch is. Here, for me anyway, our yield and I put prices are increasing faster than the trend line can keep up.
As mentioned that there is a ‘sweet spot’ for cost vs coverage. But that sweet spot is not enough dollars to cover the true cost of inputs and expenses. That level of coverage is very expensive. So you may have say $750 an acre in putting out an acre of corn, considering rent, equipment expenses etc. but to get guaranteed revenue insurance at that level is expensive.
Insurance is something you don’t want to pay for until you need it. | |
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Insurance Questions
