Production Insurance
Flue-cured tobacco

Rates

​​​​​These base premium rates are provided for information purposes only. For your own rates, please refer to your renewal notice or confirmation of insurance.

2022 Premium rates for owner-growers

Guaranteed production

Premium rate ($/lb)

80%

85%

90%

0 - 30,000

$0.0120

$0.0133

$0.0154

30,001 - 40,000

$0.0116

$0.0129

$0.0150

40,001 - 50,000

$0.0112

$0.0125

$0.0146

50,001 - 60,000

$0.0108

$0.0121

$0.0142

60,001 - 70,000

$0.0104

$0.0117

$0.0138

70,001 - 80,000

$0.0100

$0.0113

$0.0134

80,001 - 90,000

$0.0095

$0.0108

$0.0129

90,001 - 100,000

$0.0090

$0.0104

$0.0124

100,001 - 110,000

$0.0086

$0.0099

$0.0119

110,001 - 120,000

$0.0081

$0.0094

$0.0114

120,001 - 130,000

$0.0076

$0.0089

$0.0110

130,001 - 140,000

$0.0071

$0.0084

$0.0105

140,001 - 150,000

$0.0066

$0.0080

$0.0100

150,001 - 160,000

$0.0062

$0.0075

$0.0095

160,001 - 170,000

$0.0057

$0.0070

$0.0090

More than 170,000

$0.0052

$0.0065

$0.0086


Claim price

The claim price is 80 per cent of the weighted average contract price set by licensed buyers and approved by Agricorp.

Calculating your annual premium

Your annual premium is based on:

  • Base premium rate
  • Guaranteed production (GP)
  • Industry​ price

The premium is calculated using this formula:

Annual premium = GP × base premium rate × Industry price

The industry price for 2022 is $2.2160/lb.

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 Production Insurance Fund.

Volume discount

Your premium rate incorporates a volume discount.  This sets a different premium rate per acre based on the volume of your GP and your coverage level.






Canadian Agricultural Partnership – Agricorp – Ontario – Canada