These base premium rates are provided for information purposes only. For your own rates, see your renewal notice or coverage confirmation.
2023 Premium rates
| Option | Coverage type | Premium rate (% of liability) |
|---|
| Insufficient rainfall | Base
| 2.42%
|
| Monthly weighting | 3.09%
|
| Bi-monthly | 6.85%
|
| Three-month | 4.24%
|
| Excess rainfall | 5 mm threshold | 4.75%
|
| 7 mm threshold | 2.96%
|
Calculating your annual premium
Your annual premium is based on:
-
The customer base premium rate
-
The coverage value you select
-
The coverage option you select
The annual premium is calculated using this formula:
Annual premium = coverage value x customer base premium rate
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 the coverage options and the level of the Ontario Agricultural Products Insurance Fund.
