What will my insurance cost this year? Glad You Asked. SCIC has cost calculators to help you determine your best coverage options.

Learn more

FAQs

Get straight-forward, informed answers to your most important insurance questions.

AgriStability

  • Glad you asked...

    The Reference Margin Limit is removed from the AgriStability Program, retroactive to the 2020 program year, making AgriStability more effective and equitable.

    Removal of the Reference Margin Limit allows AgriStability to better support producers experiencing declines in farm income from factors such as production loss, increased costs and poor market conditions. Farming operations with low allowable expenses will see increased coverage and the opportunity to access larger benefits.

  • Glad you asked...

    The deadline to enrol in AgriStability each year is April 30. Producers enrolled in the Program must pay their program fees by December 31 to be eligible to receive program benefits. There is a penalty for fees paid after the June 30 deadline (or 30 days after their enrolment fee/notice), whichever is later.

    To participate in AgriStability, please contact us and request a new participant package.

  • Glad you asked...

    This can vary from company to company, but in most cases, it is the difference between the amount the producer committed to deliver, and the actual amount they must meet for the commitments of the forward contract.

    To learn more, click here.

  • Glad you asked...

    In the event you cannot meet the obligations of the contract, you may decide to purchase inventory to fulfill the contract. The income and expense related to purchasing inventory to meet the shortfall of the contract is allowable, if the operation has the resources/capacity to produce the commodity at the amounts which are contracted.

    To learn more, click here.

  • Glad you asked...

    Yes, however, it is the shortfall between the actual production amount the producer has the ability to deliver on and the volume committed to in the forward contract which AgriStability considers allowable. In situations where producers did not produce enough grain to fulfill their contracts, they can enter the expense incurred to buy out the shortfall of their contracts under code 9836 Commissions and Levies. The shortfall represents only the quantity of the contract they were unable to fill, and not the cost to buy out the entire contract to obtain a better price.

  • Glad you asked...

    Absolutely! SCIC encourages producers to consider participating in both Crop Insurance and AgriStability Programs as part of a comprehensive risk management plan for their farming operation.

    With Crop Insurance, you have coverage for your crops from the start of seeding season until harvest is complete. Through AgriStability, you have even further coverage for other uncontrollable events throughout the year, such as, rising input costs, falling commodity prices or unforeseen additional expenses. Since AgriStability accounts for the whole farm, the Program can provide benefit payments even if you also receive a Crop Insurance payment.

  • Glad you asked...

    An interim benefit payment is an advance on your final AgriStability benefit payment. You can apply for an interim benefit if you need access to program funds before completing your program year.

    Saskatchewan producers can apply for an interim benefit to receive 50 per cent of their estimated final benefit before completing their program year.

    The interim benefit is calculated based on the estimated margin decline or loss for the year when compared to the reference margin (historical average).

    Please call the AgriStability Call Centre at 1-866-270-8450 to apply and see if you may be eligible to receive an interim benefit. The last day to apply for an interim benefit for the 2022 program year is March 31, 2023.

  • Glad you asked...

    The deadline to submit 2021 AgriStability program forms without penalty is September 30, 2022.

    Submitting program forms is part of the annual process for producers enrolled in AgriStability. The information provided determines whether each producer qualifies for a payment. It also ensures the farm’s reference margin, which payments are based upon, is up to date.

    Any 2021 program forms received after September 30, 2022, may be subject to a penalty fee. AgriStability benefits will be reduced by $500 per month; however, if no benefit is calculated, there is no penalty applied. Program forms, with penalty, must be submitted by December 31, 2022.