Production Insurance
Peanuts

Rates

These base premium rates are provided for information purposes only. For your own rates and for any surcharge or discount you may have, refer to your renewal notice or coverage confirmation.

2022 Premium rates​​​

Coverage type

Customer base premium rates by coverage level
($/acre)

70%

75%

80%

Fixed claim price

$35.53

$43.43

$52.06

 

Prices and values​​

Coverage type

Maximum replant claim rate
($/acre)

Unseeded acreage claim rate

Claim price

Fixed claim price

N/A

N/A

$1.00/lb



​​Calculating your annual premium

Your annual premium is based on:

  • Customer base premium rate
  • Reported number of acres
  • Discounts and surcharges (D or S)

The premium is calculated using this formula:

Premium = customer base premium rate × number of acres × D or S

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 claim prices and the level of the Ontario Agricultural Products Insurance Fund.

Reported number of acres

This refers to the number of planted acres you report after planting. Once you report your final planted acres, Agricorp sends your premium invoice.

Discounts and surcharges

If you have had Production Insurance coverage for a commodity for more than one year, your premium rate may be discounted or surcharged. Discounts and surcharges are determined by comparing your individual claim rate for a commodity to the claim rate for the commodity as a whole.

Claim price

The peanut claim price is based on the price of whole peanuts in the shell.





Canadian Agricultural Partnership – Agricorp – Ontario – Canada