These base premium rates are provided for information purposes only. For your own rates, refer to your underwriting summary, which shows any surcharge or discount you might have.
2020 Premium rates for districts 1, 2, 4 and 5
| Crop | Coverage type | Customer base premium rate by coverage level
(% of liability) |
|---|
| 70% | 75% | 80% |
|---|
| Fresh and juice | Enhanced basic | 2.94% | 3.21% | 3.47% |
|---|
| Basic + hail rider | 7.46% | 7.74% | 8.01% |
|---|
| Fresh only | Enhanced basic | 2.94% | 3.21% | 3.47% |
|---|
| Basic + hail rider | 7.46% | 7.74% | 8.01% |
|---|
2020 Premium rates for district 3
| Crop | Coverage type | Customer base premium rate by coverage level
(% of liability) |
|---|
70%
| 75% | 80% |
|---|
| Fresh and juice | Enhanced basic | 2.63% | 2.86% | 3.10% |
|---|
| Basic + hail rider | 6.66% | 6.91% | 7.16%
|
|---|
| Fresh only | Enhanced basic | 2.63% | 2.86% | 3.10% |
|---|
| Basic + hail rider | 6.66% | 6.91% | 7.16% |
|---|
2020 Premium rates for tree loss coverage
* The federal and provincial governments pay the premium on your behalf
| Coverage type | Deductible (% of trees) | Customer premium (% of liability) |
| Standard coverage | 7.5% | No cost* |
|---|
| Additional coverage | 3.0% | 0.08% |
|---|
2020 Claim prices
The claim price is used to convert your guaranteed production (lb. or kg) 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 | $0.30/lb |
| Option 2 | $0.36/lb |
| Option 3 | $0.38/lb |
| Option 4 | $0.47/lb |
| Estimated juice apples | $0.0376/lb |
| Apple trees | $18.96/tree |
Calculating your annual premium
Your annual premium (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
The minimum total premium is $100.
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.
Guaranteed value
Your guaranteed value is determined by multiplying your guaranteed production by your 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.
Please refer to the 
Discounts and Surcharges feature sheet.
Premium deposit
Since your total premium is not calculated until the spring, a premium deposit is required to secure your coverage over the winter.
The minimum premium deposit is $100 per crop.
If you are returning to the Production Insurance plan
Your premium deposit is 25 per cent of the premium you paid last year for each crop.
If you are new to the plan, or adding a new crop
Your premium deposit is 25 per cent of an estimated premium, which is based on your estimated underwritten value at the time of application.
Premium deposits are not refunded if you later decide to cancel your coverage.
