[goalieguy847]

Alberta hikes crop insurance premiums 60%: ‘It’s not good news for farmers’ | Globalnews.ca

Farmers are concerned as the United Conservative government increased crop insurance rates by 60 per cent in its latest budget.

globalnews.ca

Oooff... couldve waited 1 year til after the election. Pitchforks for trudeau and the fertilizer emission reduction plan..... this news should create a convoy to downtown Edmonton in a couple weeks. Whos organizing this?

 

[Don Boles]

And you were expecting…?

 

[goalieguy847]

Not this much sask went up by what.. 15 % ? Think someone posted their updated numbers...
60 % is
Uhhh shocking?
How are these clowns planning on getting re elected? The best of a bad bunch?

 

[bjtjjl]

With SCIC new way of figuring premiums it is all over the map, some have doubled.

 

[alta66]

I suspect for some of us the increase will be hidden in the lowering of coverage levels. I know for us the absolute crap years of 2016 through 2020 are starting to enter heavily into the equation. So I'm betting for some they won't notice right off the bat and that is probably what AFSC is counting on. Politically there really is no risk for the UCP here. Even if the 40000 farmers in Alberta all decided to park their vote else where it would have no impact on the outcome, even in the very rural seats in eastern and northern Alberta. The black holes of Healthcare and Education are all that matters now, no matter the party in power, when it comes to where the money goes.

 

[lanwickum]

Curious, what would your premiums be up there?
I know the past couple years would have broke me with out crop insurance down here. I have never seen such years of both drought and hail together. Crop insurance is very important if our countries want farmers.

 

[farmercowboy]

I suppose to be fair a person would need to figure out what your insurance rate is, ie. What is your cost per dollar of coverage. I've been hovering around 8% for the highest level of coverage for a few years now, $100k costs about $8k. That's a ballpark number of course, it depends on what my crop rotation is each year, cereals are cheaper than canola as you all know.
I'm pretty curious to see what the spring price endorsement may have in store for us this season. Hopefully afsc pegs prices high enough that we can come close to insuring our costs, but of course higher coverage equals higher premiums.

 

[meritmat2]

Curious, what would your premiums be up there?
I know the past couple years would have broke me with out crop insurance down here. I have never seen such years of both drought and hail together. Crop insurance is very important if our countries want farmers.

Goes on your yields for the last how many years. Off the top of my head think on Soft white wheat I was insured for around 23bu acre on stubble. Summerfollow is way more. Then they figure out a price per bu that’s standard across the board.
Think I was insured for 184 bucks an acre or so. That was the 70% coverage. Maybe costs 12-13 bucks per acre
The rates are great but I farm in a desert.

 

[bjtjjl]

These rates you guys mention in Alberta include spot loss hail correct ?

 

[Wade57]

AFSC has their new commodity prices on their website
Yes, spot loss for hail if you have the hail rider

 

[meritmat2]

Think you save 50% if you take the hail rider when you sign up for crop insurance . I may be wrong not in a hail area (or rain) so I normally only take if there’s a good crop comming

 

[K_melnyk]

A little clarification

https://www.alberta.ca/assets/documents/ai-crop-insurance-premiums-fact-sheet.pdf

 

[Don Boles]

A little clarification

https://www.alberta.ca/assets/documents/ai-crop-insurance-premiums-fact-sheet.pdf

A LITTLE clarification?!

I‘d say it completely answers the thread with a fact based, common sense statement.
It’s also as it has been all along.

Is that variable rate benefit still kicking?
Made a huge difference a few years ago. If you had a claim.

 

[ronski]

I just noticed the document was released March 4 (Saturday), kind of weird for a government agency to be working Friday let alone Saturday so someones phone must have gone crazy. I am guessing they wanted to get ahead of the story before Monday.
Just more political posturing "Evil UCP hates agriculture, NDP will save everyone"

 

[goalieguy847]

They had to release it to get ahead of the cycle...on monday before cbc picked up on it....
Clapback this week wouldve been huge without some clarification.

 

[meritmat2]

I blame Trump

 

[bfl2008]

Global news should have to do a retraction story and apology, and the NDP should be shown to be a bunch of fear mongers. So frustrating that this kind of crap can be spouted with no recourse.

 

[alta66]

That fact sheet may answered questions but it leaves new ones unanswered.

• How does larger participation lead to higher premiums? That goes against every principle of the commodity that we call insurance.
• AFSC claims insurance rates are going up by only 22%, not the reported 60%, yet they also claim that they can't go up more then 10% in a given year. Which is it?
• To get around the 10% rule are they using the commodity price increase clause talked about in the fact sheet?
• If wheat, barley and canola are going up only 17%, 9% and 12% respectively how can the average be 22%?

I to find it odd that they would choose to address this issue in this way. AFSC is a lot of things, timely is not one of them.

 

[bfl2008]

Larger participation isn't going to be enough to pay back the payout of 2021. Going to be a few years of higher premiums until the kitty is restocked. Every insurance is this way, if there's lots of claims, the entire industry pays it back with increased premiums. I don't like paying higher premiums but I am not surprised at all its happening.

 

[Licensed to kill]

I just noticed the document was released March 4 (Saturday), kind of weird for a government agency to be working Friday let alone Saturday so someones phone must have gone crazy.

A few weeks ago I emailed Terry Bryant, Alberta's Chief firearms officer on a Sunday asking if she was planning to have a table at the High Prairie gun show, within an hour I received a reply that she was planning to unless something unexpected comes up.......on a SUNDAY.