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South Central MN | If you are borrowing money almost have to have it, can squeak by without but most banks make that difficult... Chances are you could have had a payout on your low yield year that would have at least covered the premiums for 1-2 years.
I have crop insurance here, fields in 3 different sections so I'd have to almost try to not have EU premiums on one crop, that alone (EU) saves a bunch of money. I go with 80% coverage, could do 85% but premium nearly doubles, sure some here would justify the ROI of it but only gotten a claim year 1 out of 5, and this year even 85% wouldn't have paid out but close. I use hail insurance with a wind policy to cover some of the gap, the hail is more likely to pay out here even with a small yield loss where the regular insurance wouldn't.
I have also noticed that having hail insurance it never hails here either, the one year dad put it on one field and that was the only section that didn't get touched by hail. | |
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