“I don’t really worry about too much, but I can sleep better at night knowing my yields are covered with crop insurance and Total Weather Insurance (TWI). Whether there is too much rain or not enough – I know that we have some way to back ourselves up.”
Byron Flora farms 1,800 acres of corn and soybeans with his brother. This year, Byron took out 500 acres of Total Weather Insurance (TWI) coverage with The Climate Corporation.
To Byron, insurance is a necessary part of doing business, but he doesn’t buy it thinking he will make any money. Farming all grains, his input costs are higher than they’ve ever been and are completely tied up in his fields. With money out on loan to support his operation, Byron uses TWI to protect himself from what could potentially be lost on yield. Understanding that MPCI coverage can only protect his yields up to a certain percentage, Byron views TWI as a tool that helps him gain more comprehensive coverage than he had last year, and gives him an added safety net.
Recognizing that the weather is changing, he took out TWI this season because it has become more of a challenge for his business, negatively impacting yields over the past few years. Anticipating that weather would impact yields more prominently this year, he is relieved at how his policy has worked out, given that this spring is one of the worst he can ever remember. Thanks to his TWI policy payment he’s been able to pay more bills and improve his cash flow.
“At first it wouldn’t rain, and then it wouldn’t quit raining. Now, it’s back to not raining again.”