Farms.com Home   News

SCIC announces 2021 crop insurance

SCIC announces 2021 crop insurance

The program for the upcoming season has several changes

 
Staff Writer
Farms.com

Saskatchewan farmers can expect higher coverage for 2021 with the new Crop Insurance Program through Saskatchewan Crop Insurance Corporation.

SCIC representatives recently announced the program, which has several changes for the upcoming season.

“We want to make sure that the programs that we have available for producers are relevant to them. We want to make sure the risk management tools that we have are meaningful and help them operate their farm,” said Jeff Morrow, acting president and CEO of SCIC.

One change to the 2021 program includes increased coverage.

“As far as the average coverage that producers will see for 2021, the average is $273 per acre and that's up from $224 last year. So, that's a significant increase, about a 22 per cent increase in coverage,” said Morrow.

Because of the increased coverage this year, premiums are increasing to $8.59, up from $7.40 in 2020, said Morrow.

Other changes include increases to the establishment benefit values for canola, lentils, chickpeas and corn.

“The establishment benefit value for canola is now $70 per acre, for large green lentils it’s $50 per acre, red lentils $30 per acre, large Kabuli chickpeas at $65, small Kabuli chickpeas at $45 and corn at $95 per acre,” Morrow told Farms.com.

Forage insurance for producers is also receiving an update.

“Forage producers will see an increase in the native forage establishment benefit coverage. So that's for forage acres that are seeded and failed to establish. This establishment benefit is increasing from $75 up to $200 per acre. For other forage species, like tame species, it's increasing from $70 to $90 and for sweet clover it's going from $55 per acre up to $65,” said Morrow.

Producers can also choose how to insure their tame hay acres in 2021. They can choose between the Forage Rainfall Insurance Program or the Multi-Peril Crop Insurance Program.

Now that the program is announced, producers have until March 31 to apply or make changes to insurance contracts and if they have questions, they can contact the SCIC offices.

Liudmyla Liudmyla/iStock/Getty Images Plus photo


Trending Video

IPTV M2M, Market Analyst Angie Setzer and Chris Swift

Video: IPTV M2M, Market Analyst Angie Setzer and Chris Swift

The effort to get more vaccinations for those on the food production line. The dairy industry takes inventory of what’s made them profitable and looks to build on it in 2021. Market analysis with Angie Setzer and Chris Swift.
 


Comments


Your email address will not be published