Production Insurance
New forage seeding

Rates

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

2019 Premium rates and claim prices

Coverage type

Claim price

Premium rate
($/acre)

Premium

$120/acre

$3.34

Standard

$56/acre

$4.29

Minimum premium

The minimum annual premium is $25.

Calculating your annual premium

Your annual premium (AP) is based on:

  • Base premium rate
  • Discounts and surcharges (D or S)
  • Final acreage reported (FAR)

The premium is calculated using this formula:

AP = FAR x (base premium rate - D %)
- or - 
AP = FAR x (base premium rate + S %)

Base premium rate

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

Discounts and surcharges

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

Final acreage reported

This refers to the acreage you report to us as soon as you’ve finished planting or by the deadline.






Canadian Agricultural Partnership – Agricorp – Ontario – Canada