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By Curtis Galbraith

Agriculture

Crop insurance premiums going up in 2025 says AFSC

Jan 21, 2025 | 1:57 PM

AFSC says in a news release posted to its website that Alberta farmers can expect an increase in crop insurance premiums for this year.

The company says, quote, “loss experience from previous dry years continues to drive premium increases.”

CEO Darryl Kay says in that same release that there were what he called “historic claim payments” in 2021″ something that “had an impact on both the insurance fund balance and individual producer’s experience.”

The premium increase is included in a release outlining a long list of changes for crop insurance, AgriStability and lending.

Lending changes include a one per cent interest rate for anyone getting into or returning to farming, whatever their age. This was previously limited to people under 40.

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The time for interest-only payments has also been extended to five years from two.