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Dalton, OH | Rob,
Thanks for all of your help on crop insurance on the board. I decided to lower my coverage from 85% RA to 80% RA this year. I have run all of the numbers and it just makes so much more sense for our farm. I wish I had run the numbers in previous years as I would have saved a lot of money. Now, the problem is getting the agent to not act like I'm making a big mistake. When I met with him a couple weeks ago and mentioned dropping my insurance coverage to 80%, he about threw a hissy fit!! Then I told him that I was using some of my saved premium money to purchase put options to protect my downside on price. He told me, "Your're playing with fire son. You would be much better to buy 85% coverage as it provides better downside protection then buying puts. You would be crazy for switching to 80% coverage this year!!" I must say I have lost a lot of respect for my agent and depending on how they respond tomorrow to the actual change, I may be looking for another agency next year.
Thanks again for everything!
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Rob-Thanks for all of your help! Made a decision!
