Texas/New Mexico Stateline | I have always carried either Multi-peril or CRC insurance at various levels. Usually 55%-70% depending on the amount of revenue I was needing. I think I have had a claim on some crop somewhere every year. BUT looking back at my records and doing a search the past 8 years or so it has been a total wash on what I have paid and received. Out of thousands of dollars paid and collected I have come out $809 ahead. That is not much for all the hassle, but there were some years it really helped. And this year I am expecting a huge check on our wheat. So I will be ahead of the game for a while.
Look at insurance as a way to guarantee a minimum amount of cash-flow. And not as a way to get rich. I believe that is the way it is intended to be used. |