Production Insurance
Black tobacco

Rates

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 Premiu​m rat​​es and claim price

Maximum replant claim rate
($/acre)
Claim price Premium rate by coverage level
($/acre)
7​5% 80% 85% 90%
$463
80% of the negotiated processor price for air-cured black tobacco $88.55
$100.15
$113.66
$128.03

Claim price

The claim price is calculated as 80 per cent of the negotiated processor price for air-cured black tobacco.

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​Calculating your annual pr​em​ium

Your an​​nual premium is based on:

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

The premium is calcu​lated using this formula:

Annual Premium = numbe​​​r of acres x base premium rate x D or S

Base premium​​​​ rate

The base premium rate is determined at renewal time each year and is based on your chosen ​​coverage level. 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 surch​​​​arges

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 surchar​ges are determined by comparing your individual claim rate to the claim rate for the crop plan as a whole.

Reported numb​er o​​​​f acres 

This refers to the total number of planted acres you report when you finish planting. Once y​​ou report your final planted acres, Agricorp sends your premium invoice.

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Canadian Agricultural Partnership – Agricorp – Ontario – Canada