Southwest Illinois | smokin deere - 3/15/2024 13:07
Crop insurance agent contacted me about adding rpp insurance onto my typical revenue coverage. So you can do 85 percent and add 12 percent rpp to corn or beans for roughly 30 dollars an acre to cover 97 percent of aph. This will be settled if claim happens in fall is anyone thinking of doing this or talk me out of it?
IMO, if you have had good years for the last several crops, are you really that tight financially that you need 97% APH guarantee? We are in a higher volatility area and 94% would cost me about $70 to $80 per acre. 75% is where the highest percentage of subsidies is at so rates get higher above that level. If I buy 94% coverage, I am basically giving a corn crop to the insurance company every 12 years or so. If a person needs over 85% of their APH to pay the bills they probably have bigger problems than the cost of insurance. IMO insurance is to protect against a drastic event, not guard against shallow revenue losses. |