Why are 5 million acres of Ontario farmland insured under Production Insurance each year?
In a word:
protection.
Production Insurance protects Ontario producers from yield reductions and production losses caused by factors beyond their control, including adverse weather, disease, pests, wildlife or other uncontrollable natural perils.
When you enrol in Production Insurance for fresh market vegetables, acreage-loss basis, we compare any losses you experience against predetermined abandonment thresholds. These thresholds are based on the crop yields required to meet production costs for a typical field of that crop. A claim may be paid if your yield falls below the threshold level due to an insured peril. You may also qualify for other types of claims as well.
