These premium rates are provided for information purposes only. For your own rates, refer to your invoice.
2023 Premium rates and insurable values
Premium rates are determined at renewal time each year. These 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.
Insurable values
($/colony) | Premium rate by coverage level
($/colony)
|
|---|
| 60% | 70% |
|---|
$170
| $6.72
| $10.27
|
$215
| $8.56
| $13.07
|
Insurable value
Each year, Agricorp determines a choice of insurable values based on the average cost of a replacement nucleus colony. You choose an insurable value when you apply or renew.
Calculating your annual premium
Your annual premium is based on:
- Premium rate
- Number of insured colonies
The premium is calculated using this formula:
Annual premium = premium rate × number of insured colonies
