Saskatchewan crop insurance premiums are going down again this year.
But producers who buy hail insurance from Saskatchewan Crop Insurance Corp. can expect to pay more.
The government announced last week that premiums for multiple peril crop insurance will drop an average of 12 percent.
“This is good news for farmers who are struggling against rising input costs and continued heavy subsidies offered by the United States and Europe,” said agriculture minister Clay Serby.
Heavy hail losses last year, however, mean hail insurance premiums will go up an average of 5.6 percent.
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Changes to this year’s program include more classes of lentils and chickpeas. Lentil growers can now insure large green, red and other lentils separately.
As well, small-seeded and large-seeded kabuli chickpeas will be insured separately.
Another change allows producers until Oct. 31 to pay their premiums. Interest begins to accrue Oct. 1 and will be charged on outstanding premiums as of Oct. 31.
Producers once again may choose the variable price option, which allows them to receive higher coverage if prices improve.
Producers pay 10 percent of the premium on base coverage and 40 percent for coverage of 60, 70 or 80 percent.
Customers will receive packages outlining the 2001 program in the mail early this month. The deadline to buy or make changes to coverage is March 31.
