Production Insurance
Canola

Rates

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

2020 Premium rates

Coverage Type

Premium rates by coverage level
($/acre)

70%

75%

80%

85%

Floating claim price

$9.29

$11.05

$12.95

$16.45

 

Prices and values

Coverage type

Maximum reseeding benefit
($/acre)

USAB

Claim price

Floating claim price

$134

$0.2155/lb

Floating

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​​Calculating your annual premium

Your annual premium (AP) is based on:

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

The premium is calculated using this formula:

AP = number 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 claim price is set at harvest time and is determined by the average board price (crusher price) at Hamilton and Windsor, between August 15 and September 7 of the current crop year. One-half cent per pound ($11/tonne) is deducted for transportation.

Winter and spring canola are insured under the same crop plan.

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Canadian Agricultural Partnership – Agricorp – Ontario – Canada