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How many here do NOT have crop insurance?
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jocoshar23
Posted 7/5/2012 08:03 (#2467539 - in reply to #2467144)
Subject: Re: How many here do NOT have crop insurance?


SE IA
Case IH farmer - 7/4/2012 22:43

northmofarm - 7/4/2012 19:15

I guess I don't really understand why someone would not get it. You can do enterprise units with price protection at the 65 percent level and it's almost free. Insured my beans for 425/ac and my cost was 8 bucks an acre.


+1 I see guys waste money on all kinds of stuff including having their crops sprayed for $6 an acre per pass multiple trips a year but won't spend $2 an acre for insurance.


Good point.

One other thing to keep in mind is that the age and balance sheet of a farmer may have quite a bit to do with whether they carry or not. I am almost thinking that any young farmer with any kind of mortgage on a farm is almost required to carry some form of insurance around here. I know many older gentlemen that have built up their net worth over the years and could sustain a complete crop failure and could continue on (may be tough). I know very few young farmers that could have that one year and could sustain enough of a hit to keep going.

If you have made your money over the years and can self insure yourself (not just crop but all insurance)....that is great. It is one place that I hope to be someday, but until then......
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