Agricorp says it worked with industry and government to make some improvements to Production Insurance fruit coverage for apple, pear, plum, and strawberry growers, starting with the 2025 growing season.
Agricorp says these updates provide fruit growers with more stable, predictable, and flexible options.
What’s new:
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- Buffering of unusually high and low apple yields – Unusually high or low yields are buffered up or down to keep coverage stable and lessen the impact of extreme yields on a final average yield (FAY) in future years. By keeping the FAY stable, customers pay only for the coverage they need and receive the right compensation in the event of a claim. For more information about yield buffering, see Final Average Yield.
- Fixed claim price for juice apples – When renewing their coverage this year, customers will know what the claim price is, giving them a better understanding of their coverage and options if they experience losses or damage. The fixed claim price for juice apples reflects a pricing methodology that better aligns with industry and market changes over time.
- 90 per cent coverage level for pears, plums, and strawberries – Customers who grow these crops can now choose a 90 per cent coverage level as an additional option, giving them more choice and flexibility in managing risks. Note: For pears, the 90 per cent coverage level applies to multi-peril coverage only.
January 1, 2025 is the deadline to apply for fruit coverage or make changes to existing coverage. New customers need to contact Agricorp to apply for coverage. For assistance, call 1-888-247-4999.
Agricorp is sending renewal packages out to existing customers this week. Agricorp encourages customers to review their renewal packages to make sure their coverage options meet the current needs of their farm businesses.
