Average coverage has risen to a record-high $446 per acre. Premiums are going up to an average of $14.79 per acre compared to $12.05 in 2022.
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The average insurance coverage for 2023 is at a record-high level of $446 per acre; SCIC says it’s based on increased commodity prices and yield coverage.to an average of $14.79 per acre compared to $12.05 in 2022. Producers will be able to get more unseeded acreage coverage, for acres too wet to seed this growing season due to excessive spring moisture. While the minimum coverage will remain at $50 per unseeded acre, producers can now buy additional coverage up to $125 per acre.
Saskatchewan Association of Rural Municipalities president Ray Orb said he is “pleased” by the announcements, but keeping a close eye on some of the changes.
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