Production Insurance
Strawberries

Rates

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

2018 Premium rates ​​​and claim prices

Fresh market claim price

Processing claim price

Customer premium rate by coverage level
(% of liability)

70%

75%

80%

$1.82/lb

$0.46/lb

2.71%

3.19%

3.71%


Minimum premi​um

The minimum annual ​​premium is $300.

Calculating your a​​nnual premium

Your annual pr​​emium (AP) is based on:

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

​The premium is calculated using this formula:
AP = base premium rate x GV x 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 o​​f the Crop Insurance Reserve Fund.

Guarante​​ed value

Your guaranteed valu​​e is determined by multiplying your guaranteed production by your selected claim price.

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 surcharged. 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