About premiums
Premium rates are cost-shared with government.
- 60% of premiums is paid by federal and provincial governments, plus all administrative costs.
- 40% of premiums is paid by customers.
The rates Agricorp publishes represent the customer portion of the premium. Premium rates are set annually and are based on commodity prices and past claims.
Your premium = Premium rate x guaranteed value
Guaranteed value = guaranteed production x weighted average contract price
Guaranteed production = Average Farm Yield x acres x coverage level
Note: Your premium rate includes a discount based on the volume of your guaranteed production (in pounds) and coverage level.
Claim price
The claim price is 82% of the weighted average contract price set by licensed buyers and approved by Agricorp.
