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Once you have reported your seeded acres, you will be sent a Statement of Insurance listing your insured crops, total number of acres, production guarantee, premium, discount or surcharge and the provincial, federal and producer share of the total premium.
Examine your statement carefully as it is your responsibility to report any errors or omissions
immediately upon receipt. Crop Insurance is required to amend coverage and/or claims if errors are identified by either the customer or the corporation. For instructions on how to read your Statement of Insurance, see the Reporting Information section of "Your Complete Guide to Understanding Crop Insurance".
Your premium is due upon receipt. Interest will start to accrue October 1. However, if your premium is paid before October 31, there will be no interest charged.
All other outstanding balances will have interest charged monthly. Claims will be applied to any outstanding balances. Amounts not paid by October 31 will continue to accrue interest at the beginning of each month until the account is paid in full. The interest rate is RBC prime plus two per cent, adjusted quarterly.
| Example |
Crop Premium on July 18: $10,706.03
Crop Premium on October 1: $10,706.03
Crop Premium on November 1: $10,706.03 + interest ($73.87) = $10,779.90 |
Any contract with premiums not paid or not having approved payment arrangements made by March 31, 2008 will not be eligible for continued coverage and will be cancelled. Account payments can be made at any chartered bank or credit union in Saskatchewan, at any customer service office or by cheque mailed and payable to:
Saskatchewan Crop Insurance
P.O. Box 3000
Melville, SK S0A 2P0
Crop Insurance premiums may also be paid via telebanking or through your financial institution’s
online services. Ask your bank or credit union what options are available to you.
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