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Alberta farmers apply for additional hail insurance

July 9, 2020

The Insurance Bureau of Canada says there was almost $1.2 billion in damage from hailstorms which hit homes, vehicles and crops across southern Alberta last month. The bureau says June 13 was the costliest hailstorm and the 4th most expensive insured natural disaster in Canadian history.

In rural southern Alberta communities, AG Direct Hail Insurance is the largest insurance company in the prairies which covers hailstorms like the one in June. CEO, Bruce Lowe, says that fifteen percent of customers in Alberta have already signed up for hail insurance.

"They put a lot of time and effort into seeding, and a lot of expense they got caught short before they had coverage on. The crop is gone. Fortunately, when it's that early in the season, it's kind of right on that border point where maybe you can turn it under and they can reseed". Lowe adds, "Now what you're doing is throwing money on top of money because now you've already invested 150-200 dollars an acre in seeding. Now you've got to do it all over again because you didn't have coverage and your crops got whacked by hail".

About 1 in 6 customers in the province have hail insurance with AG Direct Hail.