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.
Note: Some commodities have high-risk coverage options at a higher cost.
Your Premium = Premium rate x guaranteed value
Guaranteed value = Guaranteed production x (estimated claim price* + individual company price premium)
Guaranteed production = settlement factor x acres x coverage level*The estimated claim price is the forecasted floating claim price plus the seed company price premium.
