These base premium rates are provided for information
purposes only. For your own rates and for any surcharge or
discount you may have, please refer to your renewal notice or coverage
confirmation.
2023 Premium rates and claim prices
| Claim price | Premium rate by coverage level ($/hive) |
|---|
| 70% | 75% | 80% |
|---|
| $3.78/lb | $14.18
| $17.69
| $21.96
|
Calculating your annual premium
Your annual premium is based on:
- Base premium rate
- Reported number of hives
- Discounts and surcharges (D or S)
The premium is calculated using this formula:
Annual premium = base premium rate × reported No. of hives × D or S
Base premium rate
The 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 hives
This refers to the number of established hives you report.
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.
Please refer to the 
Discounts and Surcharges feature sheet.
