Production Insurance
Red beets (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.

 ​​​2020 Premium rates and claim prices

Claim price

Maximum reseeding benefit ($/acre)

Premium rate by coverage level
​($/acre)

70%

75%

80%

85%

Dollar value

            $555

$19.50   

$23.21 

$27.51

$33.32


​The minimum total cus​​​​tomer premium is $100.

​Calculating your ann​​ual premium

Your annual premium ​is based on:

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

​The premium is calculated using this formula:​

Annual premium = number of acres x base premium rate x D or S

​​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 Production Insurance Fund.

​​Reported num​​ber of acres

This refers to the total number of planted acres that you or your processor reported when you finished planting. Once your final planted acres are reported, Agricorp sends the premium invoice to you or your processor, depending on who pays.​

​​Discounts an​d surcharges

If you have been enrolled in a Production Insurance plan for more than one year, a discount or surcharge may be applied to your premium rate. Discounts and surcharges are determined by comparing your individual claim rate to the claim rate for the crop plan as a whole.

​Claim prices

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

​Dollar values are based ​​on the historic yield​s in d​​ollars.





Canadian Agricultural Partnership – Agricorp – Ontario – Canada