Posted by JDseller on July 17, 2012 at 09:26:02 from (208.126.196.144):
In Reply to: mpci insurance posted by huskers86phone on July 17, 2012 at 08:28:55:
You will usually be better off harvesting the crop. In a year like this the whole field may average more then you think it will. It does not take many spots with ears to yield enough to make it worth harvesting. Plus there is a big difference in what the insurance pays. Unharvested acres used to only be paid 65% verses 80% for harvested. You need to check your policy. They are all a little different.
The real kick in the butt will be the zero yield you will get credited for if you don't harvest. Had a few farms I rent that had zeros in 1988. The insured yield is still lower because of that.
Another thing. If you have three claims in a ten year period they will lower your allowable percentage of coverage. I had that happen in the early 1990s. I had a large claim in 1988 just like everyone else. I had two other years that just one farm would get hit by hail. Those two other years the claim pay out was way less than my total premium. They still claimed I had losses 30% of the time. So they wanted to lower my insured value. It did not make them any difference that those two years had very small claims.
Since then I only carry the minimum required to keep the Farm Service people happy. After a few years of saving the high premiums I am better off. I can usually salvage something with the livestock anyway.
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