It means you survived and the safety net works. If you had no crop, like the thousands of farmers elsewhere that had no rain, you would have covered most of your cash expenses.
Received my check a couple weeks ago. My CPA suggested the same thing. Unfortunately I was one of the few (as mentioned by another contributor) that received very little rain and therefore very little crop. At least with crop insurance, I can afford to try again next year.
If this was one of your worst years and you only got back one year premium. Dosn't seem like a very good investment. Unless you feel you could have a total loss some year. May only need insurance if your ground floods or you have high risk for hail or maybe wind. Neither of which are likly to effect you whole farm.
Got my check a while back. My payment was double the cost of purchase for the whole farm. I raised more beans this year than corn, had I raised more corn that payment would have been much higher.
