Production Insurance
Corn

Rates

​​​These base premium rates are provided for information purposes only. For your own rates, ple​​a​​se refer to your renewal notice or confirmation of insurance, which s​hows any surcharge or discount you might have.

2020 Premium rates
Coverage type
Customer base premium rates by coverage level
($/acre)
75%80%
85%90%
ConventionalFloating claim price$5.09$6.78$9.00$12.21
Fixed claim price$4.00$5.34$7.09$9.61
OrganicFixed claim price$7.87$10.49$13.93$18.89
2020 Prices and values
Coverage typeMaximum
reseeding
benefit ($/acre)
USABClaim price
ConventionalFloating claim price$122$4.45/buFloating
Fixed claim price$122$3.80/bu$3.80/bu
OrganicFixed claim price$122$8.55/bu$8.55/bu
2020 Corn salvage benefit
Type of damageBenefit amount
($/bu)
Sample grade$0.58
DON 3 ppm to 4.9 ppm$0.58
DON 5 ppm to 7.9 ppm$0.85
DON 8 ppm and above$1.14


​​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 x customer base premium rate x 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 Production 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.

​​​Claim price

The organic plan has a fixed claim price only. The conventional plan offers:

  • Fixed claim price – a claim price that is set at renewal time.
  • Floating claim price –​ ​a claim price that is set at harvest time. It is determined by adding the difference between the Chatham track price and the Chatham board price to the Hensall board price, minus $0.20 per bushel allowance for non-incurred expenses (i.e. drying) between October 21 and November 10 of the current crop year.




Canadian Agricultural Partnership – Agricorp – Ontario – Canada