Production Insurance
Flue-cured tobacco

Rates

​​​​​These base premium rates are provided for information purposes only. For your own rates, please refer to your renewal notice or confirmation of insurance.

2019 Premium rates for owner-growers

Guaranteed production

Premium rate ($/100 lb)

80%

85%

90%

0 - 30,000

$0.81

$0.89

$1.01

30,001 - 40,000

$0.76

$0.85

$0.96

40,001 - 50,000

$0.73

$0.81

$0.93

50,001 - 60,000

$0.69

$0.76

$0.89

60,001 - 70,000

$0.65

$0.73

$0.85

70,001 - 80,000

$0.61

$0.69

$0.81

80,001 - 90,000

$0.56

$0.64

$0.76

90,001 - 100,000

$0.51

$0.59

$0.71

100,001 - 110,000

$0.46

$0.54

$0.66

110,001 - 120,000

$0.42

$0.49

$0.62

120,001 - 130,000

$0.37

$0.45

$0.57

130,001 - 140,000

$0.32

$0.40

$0.52

140,001 - 150,000

$0.27

$0.35

$0.47

150,001 - 160,000

$0.22

$0.30

$0.42

160,001 - 170,000

$0.18

$0.25

$0.38

More than 170,000

$0.13

$0.21

$0.33


Claim price

The claim price  is 80 per cent of the weighted average contract price set by licensed buyers and approved by Agricorp.

Calculating your annual premium

Your annual premium is based on:

  • Base premium rate
  • Guaranteed production (GP)
  • Industry​ price

The premium is calculated using this formula:

Annual premium = (GP ÷ 100) x  Base premium rate x Industry price

Base premium rate

The base premium rate is determined at renewal time each year and is based on your chosen coverage level. It may change due to factors like past performance of the plan, changes to claim prices and the level of the Production Insurance Fund.

Volume discount

Your premium rate incorporates a volume discount.  This sets a different premium rate per acre based on the volume of your GP and your coverage level.






Canadian Agricultural Partnership – Agricorp – Ontario – Canada