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Post by Dave-ECIA on Feb 15, 2012 13:58:51 GMT -5
climate.com/growers/total-weather-insurance/Anyone ever mess with this coverage?? I'm looking at it as an alternative to cover one sand farm that we plan to crop one year, then back to alfalfa. Met with the crop insurance agent this morning to go over some preliminary stuff and he suggested it. Other opinions??
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Post by acfarmer on Feb 15, 2012 22:40:49 GMT -5
I didnt read through all the link yet but how is this different from regular crop insurance?
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Post by kwestfarms on Feb 16, 2012 13:47:22 GMT -5
The way I understand it.... it pays out on weather events.....excessive rain , drought over stated amt. of time , hail , wind , etc. , not based on yields of crops but the weather event........I think!!!! John
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Post by wheatfarmer on Feb 16, 2012 14:26:45 GMT -5
Looks like it is unsubsidized insurance. Be interesting what the premiums are and what are the triggers available requireing payout of the policy. Could be a problem if your regional reporting station has a normal year but 10 miles away is a weather disaster.
Study, read, understand, and as always beware.
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Post by Dave-ECIA on Feb 16, 2012 21:34:53 GMT -5
The way I understand it, you can select which weather events you want to protect from. Drought, excess rain, freeze, etc.
I'm getting more info from it, but the way it was explained, there are no claims to turn in. For example, I'm most concerned with lack of water on this sand farm. I can insure against lack of sufficient rainfall. It's tracked by either township or section. They use an estimate based on weather reporting stations. If I need 4" of rain in July and only get 2", it will pay off.
The agent is supposed to come out with some premium amounts, and a better explanation. I'll let you guys know when I learn more.
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