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Discussion Starter · #1 ·
First of all I gotta say I was a pretty big fan of this insurance program. But got my quote for this year and my coverage is down by 50 bucks an acre and premium is up 3 bucks an acre. WTF they faxed the quote on Saturday and no one in the office to explain to me until Monday what is going on.

Has anyone else got their quotes?
 

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Discussion Starter · #3 ·
Has anyone triggered a payment from these guys and is it what you thought it would be for coverage?
Lost 25% of my acres to hail in 2013 but because the rest of my acres did so well I wasn't in a claim position. that was the first nail sort of speak
 

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That's the problem that I seen with this ins also! Much like other ins the coverage is there when there is a total loss but in my experience never had a total loss, always was enough crop to not really trigger full payment. Seems to me these ins companies have got the sweet spot figured out so you never are to get paid on it. i.e. (last 30-35%) that most of use run our operations on for fixed costs. Maybe it is just us but that is what bothers me about not having complete coverage for that below avg yield, below avg price, above average costs year that we are going to have one of these years!
 

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First of all I gotta say I was a pretty big fan of this insurance program. But got my quote for this year and my coverage is down by 50 bucks an acre and premium is up 3 bucks an acre. WTF they faxed the quote on Saturday and no one in the office to explain to me until Monday what is going on.

Has anyone else got their quotes?
My premium went down over a dollar acre for same coverage.
 

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Gotta maintain their multibillion dollar profits for their shareholders, can't have year where they break even or even have a loss, this isn't agriculture.
 

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I struggled when I seen a $17/ac premium for $100/ac insurance....sounds reasonable maybe, but net of that it's only $83/ac above seed/fert/chem....then it used to only cover planted acres unsure today.....we been perennially wet prior seeding since '08 so we knew ave crops at worst on planted acres and generally grain prices were good too...plus our business model is heavily invested in iron for timely field operations (typically only allowed on the land 4 days per week) and our land spread out over 25 miles in all directions....insurance loves us....

To be fair....some fellas there quite good and in touch with our perils and needs and sounds like premiums comin down, I will re-evaluate for '15 and soon seek a quote...
 

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Discussion Starter · #12 ·
I talked to my ales rep it sounds like I am a higher risk. The only reason I was give. Is because my ave margin has gone down, and that I was almost in a claim position In 2013. What a joke

Here is my numbers. 2013. Base coverage 135 +75 top up. 11.15 premium
2014. Base coverag goes up 185+75 top up. 11.15 premium.
2015. Base coverage down. 135+75 top up. 14.50 premium. I do not know how they calculate premiums but after I lost 1000 acres to hail in 2013 my premiums stayed the same even tho my coverage went up. Now my coverage is back to were it was in 2013 and premiums sky rocket.

I talked to another farmer whose coverage is similar to mine and and his premiums were higher than mine were the last two years and I would consider him a better farmer than me and a much lower risk.

I am starting to think they maybe base their premiums on what they can safely get out of you before they piss you off

Long story sorry guys. Sales rep said someone from their office is gonna call me haven't heard a word since Tuesday I think I have been de marketed lol. Good riddance
 

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Discussion Starter · #13 ·
I struggled when I seen a $17/ac premium for $100/ac insurance..plus our business model is heavily invested in iron for timely field operations (typically only allowed on the land 4 days per week)
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Wow 17 bucks that is steep It shouldn't matter to gars if you are heavily invested in iron or not. Iron does not influence your gross margin
 
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