Production Insurance
Black beans


These base premium rates are provided for information purposes only. For your own rates and for any surcharge or discount you may have, refer to your renewal notice or coverage confirmation.

​2022 Premium rates

Coverage type
Customer base premium rates by coverage level
70% 75% 80% 85%
Floating claim price

Prices and values

Coverage type
Maximum replant claim rate
Unseeded acreage claim rate Claim price
Floating claim price $141
$0.4850/lb Floating

​​Calculating your annual premium

Your annual premium is based on:

  • Customer base premium rate
  • Discounts and surcharges (D or S)
  • Reported number of acres

The premium is calculated using this formula:

Annual premium = No. of acres × customer base premium rate × D or S

Customer base premium rate 

The customer 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.

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.

Reported number of acres

This refers to the number of planted acres you report after planting. Once you report your final planted acres, Agricorp sends your premium invoice.


Floating claim price

The floating price is set at harvest time. It is determined by the average price of beans sold between August 1​​​ an​​​​​​d November 30 of the crop year. ​


Canadian Agricultural Partnership – Agricorp – Ontario – Canada