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As with all crop insurance coverage, there often is a time and a place where one type will work better (or as well) as another. As I usually tell my customers, when you collect, you'll wish you had bought more (higher level/price, more hail, wind with hail, etc), and when you don't, you'd be better off not buying anything.
As for GRIP, it is without a doubt the best price protection available. This is for two reasons, high level of coverage, and when the ECY is higher than the "true" ten year NASS average. Finally, GRIP can be a good tool for farmers who farm across a wide area of a county.
I used GRIP for several years because of the above reasons, and it performed wonderfully. However, because our county had several years of drought, the ECY (expected county yield) has gone below the true ten year NASS average (due to a 30 plus year trending average formula used by RMA for the GRIP ECY), I switched to CRC 80% EU last year.
One thing I've learned over the last several years selling crop insurance is, "never say never". There are some situations where I now recommend MPCI over revenue coverage (irrigated), with production hail.
The thing I look at first is, "what is your true risk"? In other words, what will cost you to not produce enough bushels, or make enough from your crop to be profitable?
If the answer is: price decline, then GRIP or high level of CRC/RA is probably best. If the answer is drought, hail, wind, in that order, then possibly a moderate to high level of CRC/RA with production hail. If the answer is "hail". Then possibly a mid level of MPCI, topped with production hail.
my opinions.
Rob
Edited by robheyen 3/5/2010 07:56
Attachments
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 Clark WI CRN pg 1.pdf (35KB - 79 downloads)
Clark WI CRN pg 2.pdf (36KB - 87 downloads)
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crop ins. advice needed........
