Agricultural Insurance
Agricultural Insurance is a valuable business risk management tool that provides farmers with financial protection against production losses caused by natural perils, such as drought, excessive moisture, hail, frost, wind and wildlife.
Offered by Department of Agriculture, Aquaculture and Fisheries
Amount
no fixed amount
Quick eligibility check
Who can apply
Applicants must:
- be New Brunswick farmers,
- grow an eligible crop. Insurance is currently available for apples, grains, grain corn, oilseeds, pulse crops, potatoes, sweet corn, strawberries, fresh market vegetables and wild blueberries in New Brunswick.
About the funding
Applicants can select a plan that guarantees 60%, 70% or 80% of an average yield. Premium costs are shared between producers and the provincial and federal governments.
On a crop year basis, producers pay 40% of the total premium cost for comprehensive insurance coverage. Together, the federal and provincial governments contribute the other 60%.
Administrative costs are not included in the total premium cost; instead, administrative costs are fully funded by both levels of government.
Similar programs
| Program | Type | Amount | Status |
|---|---|---|---|
| AAFC AgriInsurance | Insurance | No fixed amount | Open |
| EDC Performance Security Insurance | Insurance | 100% unconditional, irrevocable, AAA-rated guarantee to your financial institution on letters of guarantee and standby letters of credit | Open |
| EDC Portfolio Credit Insurance | Insurance | Policy pays up to 90% of the value of your insured invoice | Open |
| EDC Select Credit Insurance | Insurance | Covers up to 90% of your insured losses (up to 90% of the value of your insured invoice), on insured sales up to $500,000 | Open |
