April 2, 2024
Every year, farmers across Ontario face risks beyond their control, like challenging planting, growing, and harvesting conditions. Production Insurance gives them some peace of mind.
Renewal packages are in the mail for Production Insurance Spring Policy customers. Spring Policy customers produce honey and grow forage and spring-seeded crops (grains and oilseeds, vegetables, and tobacco). Customers should review their packages to make sure their coverage meets their current farm business needs.
New customers and existing customers who want to change their coverage need to contact Agricorp by
May 10, 2024. Changes to coverage include things like adding or removing commodities and changing coverage options.
What’s new this year
Everything you need to know about your coverage is on agricorp.com, including current rates and program updates for the crops you grow.
- Canola now has a 90% coverage level option.
- Seed, set, and Spanish onions (covered on a yield basis)
now have 85% and 90% coverage level options. - Leafy vegetables (covered on an acreage-loss basis) have updated insurable values and abandonment thresholds.
- Flue-cured tobacco claim price has been updated to better reflect industry costs.
Why choose Production Insurance
Thousands of farmers benefit from Production Insurance each year. They get:
- Affordable coverage that is cost-shared with governments – customers pay only 40% of premiums and governments pay the rest
- Customized coverage based on their farm’s risk and historical yields
- Claim payments if they need to replant or experience loss
Coverage for fluctuating grains and oilseeds costs and market prices
As a reminder, to qualify for RMP: Grains and Oilseeds, customers need to be enrolled in 2024 Production Insurance. Ontario’s Risk Management Program (RMP) is designed to help farmers manage risks beyond their control, such as fluctuating costs and the average market price for a commodity falling below its support level.
Customers should watch their mail for RMP: Grains and Oilseeds renewal packages. Farmers should stay tuned to agricorp.com for 2024 rates and information about applying.
