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AFSC raises premiums 60 percent for 2023

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    #16
    Originally posted by makar View Post
    Dont see a thing on the PDF I found.
    https://open.alberta.ca/publications/budget-2023

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      #17
      Originally posted by mcfarms View Post
      https://open.alberta.ca/publications/budget-2023
      See it now, but worded very vague, not for dumb farmers to decipher, I am pretty sure my premiums aren't going up 60% on my next policy, should know soon.

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        #18
        I had an opportunity to go through my proposal today and go through it with my AFSC representative.

        He said the base crop insurance rates had increased about 10% on the base insurance.

        The historical premium discount reductions /surcharges are locked at a maximum of 15% premium reduction /increase; so if your insurance premium discount was … say …20% last year, it would not reduce to below 5% premium discount off the base rate this year….
        If your 2021 crop insurance payment was very large… Alberta has individual coverage with 10year experience historical averages for individual farm yield and pay out history.

        Wheat and Canola have the biggest increases if you pick the same coverage level as last year, as Canola spring coverage is up $2/bu from last year. Wheat also up 10%.

        Looks reasonable

        Cheers

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