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Armour Insurance Blog

Alberta and Agriculture - Farm Insurance

Posted by Bill Reay on Jun 28, 2012 1:24:00 PM

1382014 green wheat1Alberta and Agriculture are terms that are strongly linked. With crops valued at $3.7 billion and livestock at $3.5 billion and an overall $7.7 billion industry the economic importance is clear. With a growing worldwide population, an increasing demand for meat from developing countries will create a demand for Alberta agriculture products like never before. This is why it's so important to have comprehensive Farm Insurance and crop insurance. Failure to be covered properly could result in catastrophic financial and physical losses.

Alberta farms have always competed and produced excess product to provide an increasingly growing and hungry world.

Agriculture in Alberta continues to be world leaders in developing technology that helps sustain current production and will help increase production we will require as the population grows.

Alberta technology is a world leader in using animal genetics for selecting the best livestock. Selecting the healthiest, fasting growing, best marbled livestock will provide continuous herd inprovements. Changes in farming methods have seen reduction in input costs and reduction in greeen house gases. Reduced tilling keeps nutrients in the ground and releases less gases into the air with reductions in equipment use.

Topsoil programs that reduce erosion and find ways to add topsoil are key to growing future crops. This important work is being done in the province to provide more topsoils and add the nutrients required for crop production rather than remove it form the oil every year.

For many years we have watched people leave the farm and find occupations in other areas - in Alberta many leave for the Oil and Gas opportunities, with expertise in handling equipment and other physical farm opertions mean those raised on farms are in high demand. As the world population grows we can expect there will be a required increase in those who produce the food.

Farm challenges ahead will be labour, soil erosion, and climate change will require solutions so that we can meet the demands of growing more in a sustainable setting.  

In this very competitive business it is important to protect your investments with the proper Farm Insurance and Crop Hail Insurance.

Topics: Farm Insurance, Crop Insurance