Producers default to the base price. SCIC also offers a range of price options, including Low Price, Contract Price and In-Season Price, allowing producers to customize their Crop Insurance coverage.
The base prices for grains crops are established on the basis of January price forecasts provided by the Market Analysis Group of Agriculture and Agri-Food Canada. These prices represent the expected farm gate market price for most crops for the coming crop year.
A select group of crops are also eligible for the Contract Price Option.
Pedigreed, forage and organic crops have their own price structure to reflect the value of these crops.
The Variable Price Option remains available for forage crops only.
The Crop Averaging Program cannot be combined with the Low Price Option, In-Season Price Option or Contract Price Option.
Base Price Option
Producers default to the base price. The base prices for grains crops are established on the basis of January price forecasts provided by the Market Analysis Group of Agriculture and Agri-Food Canada.
Low Price Option
Provides producers a lower premium cost without lowering coverage. Low Price Option is 85 per cent of the base price and 85% of the base price premium.
Contract Price Option
Producers can use their contract prices to blend with the Crop Insurance base price for higher coverage. This option is now available for all commercial crops.Learn more
In-Season Price Option
Producers who select the In-Season Price Option will initially receive a production guarantee based upon the base price.Learn more