With harvest complete and harvested production reports (HPRs) filed, producers with crop insurance may be wondering when they will hear back about their production. At Agriculture Financial Services (AFSC), our team is diligently working to process reports and calculate any potential losses. While clients patiently wait for their reports to be processed, they may want to note the following items.
Payment by Declaration
When clients file their HPR, they are declaring their reported production for that crop year. If certain criteria are met, including the dollar amount of the shortfall and the grade (for annual crops) of the crop, clients can be compensated for their production loss through a payment by declaration. An on-farm inspection is not required and the full amount owing to the client can be paid sooner. In most situations, clients can choose to defer the indemnity to the following year.
Post-harvest advance
Post-harvest advance options allow eligible clients to receive a part of their estimated shortfall as an early payment prior to adjusters completing an on-farm production review. Clients in a shortfall who qualify for a post-harvest advance will be contacted by a relationship manager.
Quality concerns
If a client’s crop has suffered grade degradation due to designated peril, AFSC will adjust total production for quality loss on most insured crops. If quality is a concern on annual crops, AFSC only accepts the receipted grade on sales from buyers who have a primary elevator or terminal elevator license from the Canadian Grain Commission.
Clients who intend to sell grain to a grain dealer, private buyer, or process elevator before an AFSC adjuster performs a post-harvest inspection should contact AFSC first for details on how to retain an acceptable sample. Export timothy also has an adjustment made to harvested yields when the grade falls below the designated grade of ‘Choice’ as determined by AFSC.
Sign up for direct deposit
AFSC offers direct deposit making it easier for you to do your business, your way. Direct deposit is secure, convenient and saves you time. As Canada Post service interruptions continue, avoid delays by signing up for direct deposit. If you haven’t already signed up for direct deposit, this may be a good time to consider making the switch. More information on switching to direct deposit is available in Receiving a payment from AFSC by direct deposit.
Insuring your crop for 2025
Whether you are interested in purchasing Crop Insurance or have questions about renewing for the 2025 crop year, our team is here to help. Crop Insurance is available in the new year and can be purchased for annual and perennial crops.
Learn more about Crop Insurance by visiting AFSC.ca or speak with an AFSC team member by using Live Chat on our website or AFSC Connect, calling our Client Care Centre at 1.877.899.2372 or contacting your preferred branch office.
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