The Farm Income Stabilization Insurance (ASRA) program is a collective type of insurance. It protects your business against market and production cost fluctuations.
Complementary to the AgriStability and AgriInvest programs, ASRA pays compensation when the average selling price is lower than the stabilized income. The stabilized income is based on the production cost of specialized farm businesses.
ASRA covers several animal and plant productions, including:
You can insure one or more of your productions under ASRA. However, all productions insured must be insured in their entirety.
ASRA is a companion program to AgriStability. If you participate in both programs, you will receive the higher amount between the government contributions calculated for each program.
Note that ASRA compensation for any operation that does not participate in the AgriStability program will be reduced by 40%.
If your operation qualifies for a grant through the Financial Support Program for Aspiring Farmers, you can apply to obtain, for each of your qualifying operators, a discount of 25% off your ASRA contributions, up to $50,000 annually for your overall insured products. For products in the swine sector, the discount could exceed 25% according to the new provisions of the Farm Income Stabilization Insurance Program. The discount will be for three consecutive insurance years.