Custom Cutter Insurance - Questions - The Combine Forum
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post #1 of 19 (permalink) Old 12-04-2016, 04:34 PM Thread Starter
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Custom Cutter Insurance - Questions

About the only way I can afford to get a newer combine and make payments on it is to custom cut for one of our neighbors as well. Would be custom cutting about 2000 acres a year, just in our area. Is there such thing as insurance like crop insurance for this to cover my costs of the combine? If there was a complete loss of crop there would be no need for me to combine therefore I wouldn't have any money to make the payment on the combine. If there is such a thing, about how much would that cost? Rough figures of $60,000 needed per year to break even at most.

-Thanks
Matt


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post #2 of 19 (permalink) Old 12-04-2016, 04:51 PM
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Is there insurance for a snow removal company if it doesn't snow....

I think the answer to your questions is no.

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post #3 of 19 (permalink) Old 12-04-2016, 05:05 PM Thread Starter
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There is insurance for crops if it doesn't rain though, so didn't know if something like existed, thats was why I asked.

-Matt
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post #4 of 19 (permalink) Old 12-04-2016, 05:11 PM
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I know with the hog buildings I could purchase loss of income insurance in the event the barn couldn't be used due to fire, natural disaster, etc.

Ran with it for a while until I got the first ones paid off then I dropped it. Maybe there is something similar.

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post #5 of 19 (permalink) Old 12-04-2016, 06:18 PM Thread Starter
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I know with the hog buildings I could purchase loss of income insurance in the event the barn couldn't be used due to fire, natural disaster, etc.

Ran with it for a while until I got the first ones paid off then I dropped it. Maybe there is something similar.
Something like that is exactly like what I'm looking for. I may have to call around and find out.

-Matt
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post #6 of 19 (permalink) Old 12-04-2016, 08:44 PM
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Something like that is exactly like what I'm looking for. I may have to call around and find out.
I think you will have to call around, there is Insurance for almost everything out there. Whether you can afford it is another thing.

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post #7 of 19 (permalink) Old 12-04-2016, 09:04 PM
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There is custom harvester insurance, I forget who and where but I do know it's expensive. That is more or less set up for full out custom harvesters. If you are a farmer you may be able to add it to your farm liability insurance for that amount

I would get ahold of your insurance agent, if you come up null post it here and I will get someone to help ya out

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post #8 of 19 (permalink) Old 12-04-2016, 10:07 PM Thread Starter
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Thanks for the help guys, Ill be calling our agent tomorrow and see if they can offer anything like that.

-Matt
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post #9 of 19 (permalink) Old 12-05-2016, 10:49 AM
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About the only way I can afford to get a newer combine and make payments on it is to custom cut for one of our neighbors as well. Would be custom cutting about 2000 acres a year, just in our area. Is there such thing as insurance like crop insurance for this to cover my costs of the combine? If there was a complete loss of crop there would be no need for me to combine therefore I wouldn't have any money to make the payment on the combine. If there is such a thing, about how much would that cost? Rough figures of $60,000 needed per year to break even at most.

-Thanks
Matt
Dont know about insurance, but I have a feeling that clearing 60 grand on 2000 acres will be a bit of a stretch, even without any breakdowns at all. I did 2000 acres locally and my numbers come out quite a bit lower then that. However if your own land will pay the difference then that problem would be solved. Also, this was my first year custom cutting and the bank wanted a guarantee that I had a certain amount of acres to harvest before I could buy the combine. Just another thing to think about
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post #10 of 19 (permalink) Old 12-05-2016, 09:08 PM Thread Starter
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Dont know about insurance, but I have a feeling that clearing 60 grand on 2000 acres will be a bit of a stretch, even without any breakdowns at all. I did 2000 acres locally and my numbers come out quite a bit lower then that. However if your own land will pay the difference then that problem would be solved. Also, this was my first year custom cutting and the bank wanted a guarantee that I had a certain amount of acres to harvest before I could buy the combine. Just another thing to think about
What were you charging per acre, Just doing the math I would need to charge about $30 an acre to break even which is all i need to do. I don't quite need $60,000 just using a round number for on here. Would be a class 8 machine with a 40ft draper and 8 row corn head is what Im looking at jumping into. The $30 an acre doesn't seem so bad but I can't include fuel at that price so I may be priced a little high, not sure.


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