AgriInsurance Program Riders

Program riders are available to AgriInsurance clients as additional coverage. There are four additional coverage options for clients to choose from. Clients must participate in Production Insurance and meet program requirements to be eligible to participate in riders. 

Potato Storage Insurance

Potato producers that insure their crop with 80% or 90% coverage under Production Insurance (Schedule B) are eligible to participate in the Potato Storage Plan. Coverage for potatoes under general Production Insurance ends on December 20^th of the crop year. This plan covers marketable inventory, stored in Prince Edward Island, from December 21^st until the crop is sold, or August 31^st, whichever is earlier. 

Marketable Inventory is established by the Corporation on December 21^st and is calculated by measuring inventory and applying a cullage rate as determined by the Corporation. Producers may elect coverage of 70% or 80% on their stored marketable inventory. Offsetting exists within crop groups as outlined in Schedule B of the AgriInsurance Agreement. 

Producers must notify P.E.I.AIC and file a Notice of Loss when an insurable peril(s) that could result in a claim (indemnity) is identified. Any crops destroyed due to insurable peril(s) must receive Permission to Destroy to be eligible for coverage. Claims must be submitted within the time frame set out in the AgriInsurance Agreement, Schedule B-Part 5.

Premiums are based on reporting remaining marketable inventory and are calculated monthly. Interest charges are charged monthly on all outstanding premiums beginning in October of the following crop year. 

Colour Rider Program

The Colour Rider Plan, found in Schedule B-Part 7 of the AgriInsurance Agreement, is a weather derivative rider intended to match cold weather conditions just prior to and during harvest resulting in the loss of fry colour in processing potatoes. This is based in temperature information collected at P.E.I.AIC Board of Director approved weather stations. As listed in the current AgriInsurance Agreement, only processing potatoes insured under Part 1 Potatoes and Part 4 Whole Farm Potatoes, with a coverage level of 90% under Production Insurance, are eligible for coverage from this rider. 

Coverage is calculated by dividing the insured's contracted volume by their Probable Yield for each contracted variety, to a maximum of the number of acres insured or the contracted volume, whichever is less. Contracted volumes must be declared to the Corporation by August 31^st of the crop year and are subject to verification. Each processing field is assigned to the closest approved weather station.

Weather Stations

There are currently 12 approved weather stations that are monitored by the Department of Agriculture. The table below lists the 12 weather stations and their coordinates:

Click here to view the live weather station data on Campbell Scientific's cloud and the colour rider region map. Triggers occur when at least 8 hours of temperatures at or below -1.0°C are recorded between 12:00 am September 25th and 11:59 pm October 25th. Indemnity rates are as follows:

Unharvested Acreage Benefit

The Unharvested Acreage Benefit is an additional coverage available for potatoes, cauliflower, fresh market carrots, and wild lowbush blueberries insured under Production Insurance. It is designed to help producers mitigate risk of harvesting and storing product that may impact the marketability of their remaining inventory. Producers must elect 80% coverage under their respective Production Insurance plans to be eligible to participate in this rider.

Eligible acres are mature acres that receive written permission to be abandoned or destroyed due to an insurable peril, that meet the criteria outlined in Schedule A-Part 2 of the AgriInsurance Agreement. Eligible acres are guaranteed an indemnity based on the indemnity rates outlined in the schedule, and are not subject to offsetting. In the event that the insured does not achieve their guaranteed yield, the indemnity will be increased to the Stage II indemnity rate as outlined in each respective crop's schedule in the AgriInsurance Agreement. 

Phytosanitary Disease Plan

The purpose of the Phytosanitary Disease Plan, found in Schedule B-Part 6 of the  AgriInsurance Agreement, is a province-producer only cost-shared plan designed to help producers offset additional costs for mitigation/disinfection resulting from the discovery of Bacterial Ring Rot, Potato Wart (primary or contact), or nematodes. 

Discovery of one of the specified perils must occur in the current crop year to be eligible.

Producers may elect $50, $100, $150, or $200 coverage per acre. Coverage continues until, and a claim must be filed with the required documentation, by May 31^st of the following crop year. Indemnities (claims) are limited to the amount in the fund balance. 

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