Production Insurance
Cranberry 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.

​2023 Premium rates

Coverage typeCustomer base premium rates by coverage level

Floating claim price$25.21

2023 Prices and values

Coverage typeMaximum replant claim rate
Unseeded acreage claim rate
Claim price
Floating claim price

​​Calculating your annual premium

Your annual premium is based on:

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

The premium is calculated using this formula:

Premium = customer base premium rate × number of acres × 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.

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.

Discounts and surcharges

If you have had Production Insurance coverage for a commodity for more than one year, your premium rate may be discounted or surcharged. Discounts and surcharges are determined by comparing your individual claim rate for a commodity to the claim rate for the commodity as a whole.

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