Province recommending Okanagan growers buy hail insurance

Victoria says hail insurance premiums in B.C are the lowest in Canada.

The B.C. government is recommending Okanagan tree fruit growers include insurance for hail damage in their 2014 risk management plans, and take advantage of the fact that B.C. premiums are the lowest in Canada.

Hail insurance offered jointly by British Columbia and Canada is a cost-effective way for farm families to ensure that weather risks such as hail can be managed and farm businesses can be sustained.

Spring and summer hail storms occur regularly in the Okanagan, but the exact timing and potential areas impacted are unpredictable. To help mitigate their risk, all commercial tree fruit growers can buy hail insurance with the option of increasing their coverage throughout the year. Like any insurance policy, coverage cannot be purchased or adjusted retroactively.

The governments of B.C. and Canada subsidize the premium of each hail insurance policy in the province.

A policy with 80 per cent coverage for an apple crop worth $100,000 would result in $7,200 in producer premiums, according to Victoria, with the governments contributing a roughly equal amount.

Though coverage for up to 100 per cent of a crop is available, many growers choose to purchase 80 per cent coverage as an appropriate level, says the agriculture ministry.

Payments to insured tree fruit growers following 2013 hail storms in the Okanagan totalled about $10 million, about half of what was initially estimated but higher than in average years.

The ministry developed and distributes a guide to tree fruit growers that specifically outlines hail insurance coverage and the different options for them to consider at: http://www.agf.gov.bc.ca/production_insurance/plans/treefruit/tf_hail_guide.pdf

For more  information about crop and hail insurance for tree fruit growers go to:http://www.agf.gov.bc.ca/production_insurance/tree_fruits.htm

Just Posted

Documentary series features local wineries and restaurants

Quest Out West Wild Food launches Jan. 18

West Kelowna looking at three per cent tax increase

Council grapples with 2018 budget, rejects addition of more cops, firefighters

Tech funding announced for Kelowna post-secondary institutions

UBCO and Okanagan College are getting funding to expand their tech programs

Arbitrated settlement for Kelowna jail guards

Details of arbitration settlement in contract dispute not released

Kelowna art exhibition showcases connection to environment

The opening of Blue Renew – art:debris is Jan. 18

The snow capped hills around Carr’s Landing

Andre Paris has posted another drone video showcasing Lake Country’s beauty

UPDATE: Highway reopened following fatal crash south of Armstrong

Highway 97A crash south of Pleasant Valley cross road near Spallumcheen claims a life

VIDEO: B.C. Lions sign defensive back T.J. Lee to contract for upcoming season

The four-year veteran had a team-high four interceptions and 49 tackles last season with B.C.

How an immigrant to Canada helped Donald Trump prove his mental health

Test that cleared Trump was developed by doctor associated with McGill and Sherbrooke universities

Premier touches on multiple topics ahead of Asia trade trip

Housing and childcare are expected to be the focus of the BC NDP’s first budget in February.

Premier offers condolences to family of boy, 15, killed in Vancouver crossfire

John Horgan: ‘No stone is to be left unturned until we find the perpetrator of this heinous crime’

VIDEO: Explorers uncover Canada’s deepest cave in Fernie

The cave, named Bisaro Anima, was confirmed to have broken the record on New Year’s Day

Canadian junior captain returns to Rockets lineup

Dillon Dube will be back in Kelowna’s lineup Wednesday night after world juniors and bout of flu

Waters: For Trump words speak louder than actions

U.S. president’s first year in office marked more by what he said than what he did

Most Read