Production Insurance
Lima beans (processing)

Rates

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

2021​​ Premium rates and claim prices 

Coverage type

Maximum seed cost claim rate
($/acre)

Maximum replant claim rate
($/acre)

Premium rate by coverage level 
($ per acre)

80%

85%

90%

Total production coverage

$141

$197

$17.00

$23.99

n/a

The customer portion of the seed cost coverage premium is $0.58/acre for lima beans. ​


​​Calculating your annual ​​premium

Your annual premium is based on:

  • Base premium rate
  • Reported number of acres

​The premium is calculated using this formula:

Annual premium = number of acres x base prem​ium rate

​​Base premium ra​​​​te

The base premium rate is determined at renewal time each year. It may change due to fact​​​​ors like p​ast 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 total number of planted acres reported by your processor when you finish planting. Once your final planted acres are reported, Agricorp sends the premium invoice to you or your processor, depending on who pays.

​Claim prices

Claim prices are set by Agricorp and based on information from the Ontario Processing Vegetable Growers (OPVG).

The claim price is based on the O​​PVG current year’s negotiated price less non incurred costs.





Canadian Agricultural Partnership – Agricorp – Ontario – Canada