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Southwest Missouri | Most farmers would not "put it in their pocket", they would spent it. Then, when there was a crop failure, there would be a hue and cry for assistance because farmers could not meet their payments.
We are self insured because we do not have to borrow to put a crop in. I can make my land payments even in a terrible year (like this one). Someone said that smart people buy insurance to cover the losses they can not afford. A different way to phrase it is to say that people buy insurance to transfer risk they do not want.
I know people say they buy insurance to make money. I am not smart enough to figure how to do that. | |
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land rent
