About premiums
Premium rates are cost-shared with government.
- 60% of premiums is paid by federal and provincial governments, plus all administrative costs.
- 40% of premiums is paid by customers.
The rates Agricorp publishes represent the customer portion of the premium. Premium rates are set annually and are based on commodity prices and past claims.
Your premium = premium rate × number of acres
Premium discounts and surcharges
If you have been enrolled in the program for more than one year, your premium rate may be discounted or surcharged based on your claim history for the commodity.
You may also qualify for a premium rate discount if you plant your potatoes into land that was cover-cropped in the fall.
Cover-crop discount
If you plant your potatoes into land that was cover-cropped, you may qualify for a 5% discount on your premium rate.
Planting a cover crop can improve soil health and benefit the environment by protecting the soil surface from wind and water erosion.
To qualify for the discount, you need to:
- Use the Cover Crop Decision Tool from the Midwest Cover Crops Council to select your cover crop
- Plant a cover crop in the fall (this cover crop can’t be terminated by fall tillage)
- Plant at least 75% of your potato crop on the land that was cover-cropped
- Contact Agricorp by May 10 to confirm your eligibility and make changes to your coverage
For your own rates, including any discount or surcharge you may have, see your renewal notice and/or coverage confirmation.
Claim price
- Used to calculate any potential claim under production loss coverage
- Set by Agricorp
For potatoes, the claim price is based on the current year's contract price weighted by the processing type of chip, whole peel, and stewed potatoes, based on information from the Ontario Potato Board.
