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| With an insurance claim we don't get back exactly what was lost. We have to assign a monetary value to what was lost and in this case that is being calculated (correctly in my view) from the value at date of loss. Another way to look at it might be to say you didn't have the exact physical product insured, but rather the value of the product. What the product might be worth in the future is irrelevant to the claim, as you didn't insure the hypothetical future value.
My comments are from the point of view of a farm insurance policy claim, not a crop insurance claim.
I'm coming off here as something of a jerk and that's not my intention. But maybe another point of view can be useful.
Edited by Red Barchetta 2/17/2025 18:02
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Ins loss
