I wish I had the money to be your banker. Any crop insurance at all?
Sure do have insurance on the 10 acres but there is that old insurance get around paying for a loss .
Tobacco insurance is guaranteed pounds per acre .Say 10 acres is guaranteed 1750 lbs per acre . Insurance will cover 65 percent of that .That means They will guarantee you 1137 lbs @ $1.70 per pound .
That equals $1932 per care .
Now here's the catch If I have 4.5 good acres left out of the 10 acres and I get 2400 lbs of whole leaf tobacco per acre and I sell it for $2 a pound that equals $21,600
Insurance only guaranteed me $19,320 . If I would have sold 4.5 acres @ 2400 lbs per acre of whole leaf then I get nothing . To collect insurance you would have to have a near total loss .
One more loop hole for insurance is their premium They would still take $2,125 more from what they guaranteed me to cover their policy .
Insurance will make you harvest any tobacco that is in the field good or bad , big or small .
I have over $10,000 invested in that 10 acres now