Saskatchewan crop insurance participants will generally pay higher premiums but get better coverage this year.
Agriculture minister Lyle Stewart announced details of the 2013 program this morning.
Premiums will be an average of $9.98 per acre, up from $8.91 last year.
Coverage levels will rise from $174 per acre to a record $194 per acre, mostly due to strong grain prices.
The corporation added hard red spring wheat, hard white spring wheat and oats to its yield trending program. It also increased establishment benefit values for field peas, canola and identity-preserved canola, and expanded the insurable region for soybeans and corn.
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Program participants can enhance the $70 per acre unseeded acreage benefit by purchasing additional coverage of $15 per acre or $30 per acre.
Just as his predecessor announced last year, Stewart said there will be no AgriRecovery program for weather related disasters in 2013. Farmers are expected to protect themselves as best they can.
Last year, 77 percent of seeded acres were insured through the province’s crop insurance corporation.
This year, for the first time, the corporation will buy private reinsurance to help stabilize the program in case of a large claim year.
