Production Insurance
Honey

Rates

​​​​​These base premium rates are provid​​ed for information purposes only. For your own rates, refer to your renewal notice, which shows any surcharge or discount you might have.

2017 Premium rates and claim prices 

Claim pricePremium rate by coverage ​level
($/hive)
70%​75%80%
​$2.33/lb$15.21$18.34$21.67

Minimum prem​​ium

The minimum annual premium is​​​ $100.

Calculating your annual pre​​​​mium

Your annual premium (AP) is ba​​sed on:

  • Base premium rate
  • Reported number of hives
  • Discounts and surcharges (D or S)

The premium is calculated using t​​his formula:
AP = base premium rate x # of eligible hives x D or S

Base premium ra​te

The base premium rate is determined at renewal time each year. It may change due to factors like past performan​​ce of the plan, changes to claim prices and the level of the Crop Insurance Reserve Fund.

Reported number o​​f hives

This refers to the number of​​ established hives you report.

Discounts and sur​​charges

If you have been enrolled in a Production Insurance plan for more than one year, your premium rate may be discounted or surcha​​rged. Discounts and surcharges are determined by comparing your individual claim rate to the claim rate for the crop plan as a whole.​

Please refer to the Discounts and Surcharges feature sheet. 






Growing Forward 2 – Agricorp – Ontario – Canada