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Production Cost Insurance - Guaranteed Income?? Need Advice
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Iowa 83
Posted 1/19/2019 10:08 (#7255816 - in reply to #7255101)
Subject: RE: Production Cost Insurance - Guaranteed Income?? Need Advice


West Central Iowa
dakotafarmer1 - 1/18/2019 22:22


Your right ColrBlind to the 5 years - thanks for your thoughts! I appreciate it I really want to hear from someone with experience... Did you get a quote? How was the process? Seems in depth, but they seem to really want to get it right.

The numbers I used were just an example. It can go to 800 bucks plus inputs.

The numbers I ran were much better with this insurance than the federal because of basis. The federal gives me an unrealistic number. If I raise my bushels but sell under the board, I lose.
The nice thing about this is I can pump the fertilizer and have a better coverage because it goes up with what I spend.

I am getting a quote. He told me the price would be probably be higher than the federal, but that program only incentive is to quit, this program allows me grow...from what I can see.

I'm about making money not an insurance check - this is what excites me about this deal cuz it focuses on solid agronomy. I dont care about the subsidy - I only look at out of pocket money. If it works great, if not, I'll stick to federal, but at least I will know.

I think in areas where federal crop insurance is 10 bucks for 200 bushel corn it wont work, but outside the gold belt it should work.

I found this brochure- https://www.diversifiedcropinsuranceservices.com/Portals/0/Images/Ch...
spells it out pretty good.



The subsidy matters, because if it's not subsidized the policy has to make the insurance company money on it's own merits, which means the insurance company pays out less than it takes in. Thats why crop insurance is such a big deal in the farm bill. So those facts don't change no matter where your located. Thats why I never get too excited about insurance company add on policy. That being said, sometimes people get paid out, but people get paid out @ the casino too.
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