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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - April 27, 1972, Lethbridge, Alberta Thursday, April 37, 1972 THE LETHBRIDGE HERALD 17 New crop insurance gives wider protection number of important tion. This Coverage Adjustment Last year, the 11.241 policy------.....----------- ___________________......._ _............._............._ A number of important changes have been made in the crop iiisurancc program for J972 which wit! give farmers a wider range of protection in or- der to cover their operating casts. Until this year farmers could insure at only the one price level for each crop, but in 1972 the following per bushel price options are available: St.23, SI, and and 80; and ftaxsced and rapesced and Also this year, farmers will be able to choose between cov- erage based on 60 or 70 per cent of the long-term average yields. The 70 per cent level, added this year lo replace an 80 per cent on I ion wliich has Iwcn dropped, is expected to appeal to many policyholders because of its much lower cost. With these options available a farmer may increase Ins pro- tection by choosing the highest level of coverage and the top price option. If he wishes mini- mum coverage at the lowest cost he may choose the lower level of coverage and the lowest value. In this way lie can tailor his insurance to meet his particu- lar requirements. Policyholders can make their selections by signing an Elec- tion of Coverage and Insured Value form not later than April 30. Those wht> do not make an election for 1072 will lie insured at the GO per cent level of cov- erage and at Ihe following basic values: wheat .45; barley .65; flaxseed and Another important change this year is the introduction of a coverage bonus for those pol- icyholders with a loss-free ex- perience. The bonus can amount to as much as ]5 per cent for those who have been insured for five or more years without a loss. Farmers will] three or more losses in the past six years will lie subject lo a coverage rcduc- plan destined for failure A wheat acreage reduction plan introduced by the United States government in mid-Jan- uary is destined for failure bo- cause of a lack of farmer in- terest and participation, accor- ding lo a Washinglon state of- ficial. Albiu, executive direc- tor of the Spokane County Ag- r i c u 11 u ral Stabilization and Conservation Service, said ho has received a state wide re- port on the program indicating only 3-M Washington farms out of a possible 12.2SJI have signed up for the program. The lack of participation is expected to compoimd an al- ready serious surplus problem in UK Pacific Northwest where more than 120 million bushels of wheat are stockpiled be- cause of overproduction in 197J. In addition, there Is a real inability to export because of problems associated with the Pacific coast dock strike. Agricultural officials have estimated that if there was strong support for Ihe pro- gram, and if 1972 was an aver- age production year, farmers would avoid growing only alxmt 23 million bushels of wheat which would be consi- dered surplus. tion. Tin's Coverage Adjustment Plan is intended lo bring the protection afforded the indivi- dual policyholder in line with his actual production experi- ence. All-Tlisk Crop Insurance is a program of the provincial gov- ernment jointly financed with the federal government. The objective is to provide farmers with low-cosl protec- tion against serious loss result- ing from any of the natural hazards over wliich farmers have no control. The deadline for new appli- cations this year is also April 30 and farmers intcre sled in protecting the investment need- ed to grow their crops are en- couraged lo see their local crop Insurance agent prior to that date. l.asl year, the policy- holders in Alberla insured crops to r. value of and re- ceived indemnities amounting to nearly Hail in cen- tral and northern regions and excessive moislurc in the norlb were Ihe major causes of loss la si year. Since its inception in 1'JGS, the Corporation has paid out nearly in losses while pre- miums paid by fanners have totalled On the average nearly have been paid in losses for each that farmers have paid included, premiums have total- led for an overall loss-to-prcinium ratio of 07 per in premiums. When the federal contribution toward premium is cent since 1965. KOLLEGE KOIN LAUNDROMAT COLLEGE MALL NEXT TO SP1C SPAN Welcome to Farmers and Ranchers WASH WHILE YOU SHOP Attendant available for professional help Phone 328-2508 DEPENDABLE MAYTAG WASHERS AND EXTRACTORS "Bring In Those Farm Soiled Clolhes" TIRE SPEgtALIST Wonderful WHITEWALL SALE! Buy Whitewalls at regular blackwali prices increase your car's value without spending extra money! Confused about tires? Ask (or Dunlop's free "Tire Talk" booklet. Do you have a vibration problem vvilh your automobile... Come in and let us look at it On our Exclusive Electronic Balancing Machine. DUNLOP TWIN-BELT Polyester for smooth ride, fibregtass belts under the tread to keep the tire round and the Iread flat___so there's less flexing and wear, belter road-holding, braking... whitewall only DUNLOP GREAT WEST TIRE LTD. 1203- 2nd Ave. S Phone 328-2443 The mosl up-to-date wheel balancing service available DUNLOP SPORT 4-PLY POLYESTER With low ground-hugging "78" series profile and wide 7-rib tread... for extra control and long mileage... whitewall only TIRE SPECIALIST ;