Crop Insurance vs Hail Insurance - The Combine Forum
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post #1 of 40 (permalink) Old 02-27-2019, 11:29 AM Thread Starter
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Crop Insurance vs Hail Insurance

For the past decade I have had mostly crop insurance and very little hail insurance. Got 3 storms that had measurable hail claims. I held crop insurance mostly for the flooding back 4 or 5 years ago, we had wet springs and then often would get fields seeded and then get 3 inches of rain. Most of my claims have been for unseeded acres rather than crop losses. The yield coverage is so much lower than even an average crop.

We seem to have a handle on the wet land now with a couple dry summers and seeding more deep rooted crops that can use the moisture like canola or durum and canola when it gets flooded in low spots comes back. I am really debating whether to stay in the program at all and instead supplement with more spot hail and protect against the disaster.

Interested in any opinions on this?

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post #2 of 40 (permalink) Old 02-27-2019, 12:21 PM
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My area is high risk for hail and we continue to get more and more hail, would have hit the lottery if I had loaded up $500/ac hail insurance. I am going to keep some production insurance for the total disasters but I will reduce it this year and up my hail insurance.


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post #3 of 40 (permalink) Old 02-27-2019, 12:41 PM
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I have pretty decent crop insurance coverage. I try and seed my individual crops in blocks so that if I get enough hail then crop ins will kick in. Seeding each crop in a block also makes logistics easier through the season. If each crop was spread out across my land base it would hedge production risk but also make it difficult to trigger a SCIC claim as the good would offset the bad. I’m definitly not farming for insurance, but with this setup it helps enable claims if we have a more localized loss. Last yr was first time I didn’t purchase hail insurance. I don’t plan to buy any this year unless things look really good late June.
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post #4 of 40 (permalink) Old 02-27-2019, 01:24 PM
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I’m state side. Last 2 years have had hail claim and production claim. Maybe 5 out of the last 8 have had some claim. Wouldn’t go without coverage in both.
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post #5 of 40 (permalink) Old 02-27-2019, 01:26 PM
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Iím state side. Last 2 years have had hail claim and production claim. Maybe 5 out of the last 8 have had some claim. Wouldnít go without coverage in both.
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post #6 of 40 (permalink) Old 02-27-2019, 01:30 PM
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I'd rather sell my crop to the elevator than crop or hail insurance. I try to block crops together as well. I carry some of both but wasn't lucky enough to get hail last year. Many more of those and I'll be looking for another line of work.

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post #7 of 40 (permalink) Old 02-27-2019, 02:21 PM
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If your not in a hail zone it won't break the bank to have it most of the time,
if your coverage on crop insurance sucks than it might not be completely worth it, we have had quite a few disasters followed by extreem good years so we do ok with crop insurance, for us it takes the financial pinch of a bad year.
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post #8 of 40 (permalink) Old 02-27-2019, 04:37 PM
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So how is your crop insurance 10 year average less than average? That number can be a bit sobering.

I mean if 80% of an average crop don’t cover the bills there’s a real problem.
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post #9 of 40 (permalink) Old 02-27-2019, 04:55 PM
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It covers cash but that’s about it.

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post #10 of 40 (permalink) Old 02-27-2019, 04:57 PM
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Originally Posted by joesixpack View Post
So how is your crop insurance 10 year average less than average? That number can be a bit sobering.

I mean if 80% of an average crop donít cover the bills thereís a real problem.
If your breaking even at 80% of a average crop your doing a lot better then the average farmer or are you talking 80% should cover the crop expenses and the fixed costs of the farm is over and above that?

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