Applying for Insurance
Insurance is available to any producer who meets AFSC eligibility requirements. Insurance applicants are required to provide legal, operational and financial information. If you are interested in insuring your crops and would like to know if you are eligible, please contact an AFSC branch office.
New clients must apply for crop insurance by the applicable deadline and AFSC will evaluate client eligibility for insurance. The deadline for Perennial Crop Insurance is the last day of February, while the deadline for Annual Crop Insurance is April 30. A full list of deadlines can be found on the Deadline page.
New clients are required to demonstrate their legal, financial and operational independence. Required information includes Business Number, legal land description and number of acres on each location.
Clients who purchased crop insurance in the previous year will be automatically renewed based upon the previous year’s information. Personalized renewal notices are available at the start of the year. It is the client’s responsibility to review the information.
If changes are required, clients must complete a Change Request form and return the form to an AFSC insurance representative in person, by phone, mail, fax or email by the applicable deadline. The deadline for Perennial Crop Insurance is the last day of February, while the deadline for Annual Crop Insurance is April 30.
Crop insurance is continuous and remains in effect from year to year unless cancelled in writing or on a Change Request form by the client by the applicable deadline. The deadline for Perennial Crop Insurance is the last day of February, while the deadline for Annual Crop Insurance is April 30.
Assignments: Clients may assign the right of their indemnity to a third party. By applying under the Advance Payment Program for a cash advance, clients are agreeing to assign insurance proceeds against the advance.
Other assignments (e.g. financial institutions) are registered after AFSC receives and approves the complete Assignment of Indemnity form and registration fee. AFSC will deduct assigned funds until the assignment is paid in full. Assignment deductions are mailed directly from AFSC to the third party, and any remaining indemnity is mailed to the client.
Deferrals: To facilitate tax planning, clients can choose in advance to defer indemnities to the following tax year. There will be no recourse to defer payment once a cheque has been issued. Deferred indemnities will not be applied to outstanding premiums/balances until the deferred date and interest will continue to accrue.
Interest policy: Interest begins accruing on unpaid premiums September 1 at the CIBC prime rate plus two per cent, adjusted quarterly. It is added to account balances beginning October 1 and the first of each following month until the account is paid in full.
Outstanding accounts: Premiums, administrative fees and all other amounts owed to AFSC are due and payable upon billing. Outstanding amounts owed to AFSC will be deducted from indemnities payable to the client. December 31 is the deadline to pay your current year account without negatively affecting your credit and to avoid a cash upfront on premium for the following insurance year.
Insurance claims paying for other programs: AFSC reserves the right to use insurance claim payments to offset outstanding accounts for all insurance, income stabilization, and lending programs AFSC administers.
Protecting your privacy: AFSC adheres to privacy procedures compliant with current legislation and is committed to securing our clients’ personal information. Personal information is defined as any information about an identifiable individual that is recorded in any form, subject to the Freedom of Information and Protection of Privacy Act (FOIP Act). As an individual, it is your right to control when, how and to what extent your information is communicated to others.