The deadline for making changes to Saskatchewan Crop Insurance coverage is March 31. I predict a limited amount of interest in the revamped variable price option and the new in-season price option. With the variable price option, grain prices in July are used for coverage levels. In the past, the premium would increase or decrease by the same amount as the change in the crop price. This year, the premium will be known in advance. Having that certainty is viewed as an advantage, but the variable price premium is going to be higher than the base premium. In other words, you’re going to pay a higher premium, but your coverage might go up or down. The same is true with the in-season price option where an average of crop prices from September to February will be used. You’d think that there would be about an equal chance of prices increasing or decreasing under both options, but somehow the statistical analysis has convinced Crop Insurance that it has to charge higher premiums. The variable and in-season premium rates were not forwarded to producers with their package of information. You have to call to get those rates. I’m Kevin Hursh.
Kevin Hursh, PAg, CAC