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WC MN | On new/unknown ground I would opt for 70-75% "Here". I was in the same boat a couple years back. My farm average is in the 150's now but I got the county yield for the first years for corn of 134. We have a lot of sandy ground in the county that brings the average yield down. Hard to justify spending 85% of 134 when you know you can produce more than that easily. I went with 75% to start out with on corn and beans and now am at 75/70. Bean yeilds for us seem to be pretty consistant. I have 2 more years of county yields and then I get to use my own. It takes a lot of 170's to bring a 134 average up to 150. Does that make sense? I will put the disclaimer that I did have a claim last year due to greensnap on 1 field. Had I "bought up" on all acres I could have come "ahead" a little better. However, I don't buy insurance to make money, only to mitigate risk so I don't go absolutely broke.
The rate you pay to insure a 90 bpa yield is roughly the same as I pay to insure 150 is roughly the same as my FIL pays for 200. You could look at it as "How many bushels, as a percentage, does it take to pay the premium?" In your case to go from 67 to 76 bushel guarantee it is costing you roughly 5 bushels (at $5/bushel). So is it wise to pay 5 bushels out of your crop guaranteed in premium to gain 9 more bushels? Most likely not.
I really don't see a problem with 70-75%. Sure, you leave yourself open to some risk but I would rather take that risk and gain a little more in my pocket. I also work off the farm so if I lose a couple dollars my family won't starve. $500 seems a little high for expenses for 100 bushel corn. I am guessing you are probably being a little conservative, which is ok. I would have though $425-450 would have been closer.
Only you can make that decision. Leaving it up to the insurance man you should buy 85% everytime! I trust my agent but he wants me to buy up most of the time. He's right about a 1/4 of the time.
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Selecting Crop Insurance Coverage Rates
