Enhancements Made to Crop Insurance Program Coverage for 2018
Agriculture Minister Lyle Stewart announced details of the 2018 Crop Insurance Program. Saskatchewan producers will have access to very high coverage as the Crop Insurance Program continues to improve, as a result of the success of Saskatchewan farmers and ranchers.
“Risk management is more important than ever for Saskatchewan producers,” Stewart said. “The Crop Insurance Program is more responsive than ever and will be extremely valuable this year as we come off of one of the driest years in the province’s history.”
On average, Crop Insurance coverage levels are $216 per acre, compared to $217 per acre in 2017. The slightly lower coverage is a result of lower insured crop prices in 2018; however, coverage levels remain very high thanks to the success of Saskatchewan producers as average yields continue to move higher. The average premium for 2018 is $8.41 per acre, down slightly from $8.51 per acre in 2017.
There are a number of enhancements for the Crop Insurance Program in 2018. Fire insurance for pastureland, more crops to be insured under the Contract Price Option and increased compensation rates for cattle lost due to predators are a part of today’s announcement. More information about the changes for 2018 and how coverage is individualized for each farm can be found at www.saskcropinsurance.com/ci.