Production Insurance
Sour cherries

Rates

​These base premium rates are provided for information purposes only. For your own rates and for any surcharge and discount you may have, see your coverage confirmation.

2024 Premium rates for sour cherries

Coverage level Customer premium rate 
(% of liability)
70%8.34%
75%9.27%
80%10.30%
85%12.60%

2024 Premium rates for sour cherry trees

 Coverage type
Deductible
(% of trees)
Premium
(% of liability)
Standard 
10%
No cost*
Additional 
5%
0.25%

*The federal and provincial governments pay the premium on your behalf.

2024 Claim prices 

Type
Claim price
Sour cherries
$0.46/lb*
Sour cherry trees
$31.45/tree

*$0.46/lb is the estimated claim price for sour cherries. The final claim price is set at harvest.

Calculating your annual premium

Your annual premium is based on:

  • Base premium rate
  • Guaranteed value 
  • Discounts and surcharges (D or S)

The premium is calculated using this formula:

Annual premium = base premium rate × guaranteed value × D or 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 Ontario Agricultural Products Insurance Fund.

Guaranteed value

Your guaranteed value is determined by multiplying your guaranteed production by the claim price.

Guaranteed value = guaranteed production × claim price

Discounts and surcharges

If you have had Production Insurance for more than 1 year, your premium rate may be discounted or surcharged. Discounts and surcharges are determined by comparing your individual claim rate for a commodity to the claim rate for the commodity as a whole.

For more information, see Discounts and Surcharges






Canadian Agricultural Partnership – Agricorp – Ontario – Canada