AgriInsurance

Facts about AgriInsurance

The Growing Forward initiative is a bold new vision for Canada's agriculture, agri-food and agri-based products industry. AgriInsurance is part of Growing Forward's Business Risk Management (BRM) suite of programs that farmers rely on to manage the risk of loss. The BRM suite includes: AgriInvest, AgriStability, AgriInsurance and AgriRecovery.

AgriInsurance is affordable, predictable and timely. The program includes existing production insurance, and provides coverage for production and asset losses caused by natural perils. Coverage is expanding to include other products such as livestock and additional horticultural crops. Under the program, producers pay premiums to protect their commodities. Producers get a payment when they experience a production loss during the year.

AgriInsurance and AgriStability linkages

Programs under the BRM suite work best together, providing farmers with maximum coverage for different situations. While AgriInsurance protects against production losses and AgriStability covers margin declines, the two programs are closely linked; so, producers are encouraged to participate in both programs.

Premium Adjustments - A Premium Adjustment has been developed to ensure that producers are not disadvantaged in AgriStability by participating in AgriInsurance. If a producer's AgriStability payment is lower because of their participation in AgriInsurance, he or she may receive a Premium Adjustment cheque. The Premium Adjustment cheque will be issued after the AgriStability payment.

Negative Margins - When the administration calculates payments for negative margins, a producer's participation in AgriInsurance will be taken into account. AgriStability negative margin payments may be reduced for losses that could have been covered under AgriInsurance.

Other Reasons to Participate in AgriInsurance

• AgriInsurance payments are included as allowable income in your reference margin calculations for AgriStability, which helps to stabilize your reference margin. AgriStability payments are not included as allowable income.
• AgriInsurance payments can help cover negative margins. AgriStability provides negative margin protection at 60 percent.
• AgriInsurance payments can be paid in the same year as the loss. AgriStability final payments aren't paid until after your income tax and supplementary forms are filed.
• AgriInsurance provides coverage for spot losses. AgriInsurance losses are determined on a crop specific basis. If you don't have a whole farm AgriStability loss, you may still be protected through AgriInsurance for one or more crops.
• You must participate in a business risk management program such as AgriInsurance in order to qualify for:
  • a cash advance under the Advance Payments Program.
  • a payment under the Cover Crop Protection Program.

AgriInsurance is delivered provincially by a Crown Corporation or a branch of the provincial agriculture department in each province. Please visit your respective provincial administration using the links below.

British Columbia
Alberta
Saskatchewan
Manitoba
Ontario
Quebec
New Brunswick
Nova Scotia
Prince Edward Island
Newfoundland

For more information, call the Production Insurance and Risk Management Division at 1-613-715-5412.

Growing Forward, a federal-provincial-territorial initiative