These base premium rates are provided for information purposes only. For your own rates and for any surcharge and discount you may have, please refer to your coverage confirmation.
2022 Premium rates for districts 1, 2, 4 and 5
| Crop | Coverage type | Customer base premium rate by coverage level
(% of liability)
|
|---|
| 70% | 75% | 80%
| 85%
|
|---|
| Fresh and juice | Enhanced basic | 3.41% | 3.71% | 4.02% | 4.68% |
|---|
Separate orchard hail rider
| 8.67% | 8.99% | 9.31% | N/A |
|---|
| Fresh only | Enhanced basic | 3.41% | 3.71% | 4.02% | 4.68% |
|---|
Separate orchard hail rider
| 8.67% | 8.99% | 9.31% | N/A
|
|---|
2022 Premium rates for district 3
| Crop | Coverage type | Customer base premium rate by coverage level
(% of liability)
|
|---|
70%
| 75% | 80%
| 85% |
|---|
| Fresh and juice | Enhanced basic | 3.04% | 3.31% | 3.59% | 3.94% |
|---|
Separate orchard hail rider
| 7.73% | 8.02% | 8.31%
| N/A |
|---|
| Fresh only | Enhanced basic | 3.04% | 3.31% | 3.59% | 3.94%
|
|---|
| Separate orchard hail rider | 7.73% | 8.02%
| 8.31% | N/A |
|---|
2022 Premium rates for tree loss coverage
| Coverage type | Deductible (% of trees) | Customer premium (% of liability) |
| Standard coverage | 7.50% | No cost* |
|---|
| Additional coverage | 3.0% | 0.09% |
|---|
*The federal and provincial governments pay the premium on your behalf.
2022 Claim prices
The claim price is used to convert your guaranteed production (lb) to a guaranteed value ($) and is also used to convert your final yield from pounds or kilograms to a dollar value. Production claims are calculated when your yield falls below your guaranteed value.
The final apple juice claim price is established by Agricorp at harvest time to reflect market conditions. It is determined using the current year’s negotiated price for ground juice apples less harvesting costs.
| Claim price options | Claim prices |
|---|
| Option 1 | $0.34/lb
|
| Option 2 | $0.38/lb
|
| Option 3 | $0.43/lb
|
| Option 4 | $0.50/lb
|
Estimated juice apples
| $0.0533/lb
|
| Apple trees | $16.97/tree
|
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:
Anual 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 your selected claim price.
Guaranteed value = guaranteed production × selected claim price
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.
For more information, see the
Discounts and Surcharges feature sheet.
