Production Insurance
Seed onions, yield basis

Rates

​These base premium rates are provided for information purposes only. For your own rates, please refer to your renewal notice or confirmation of insurance, which show​s any surcharge or discount you might have.

2020 Premium rates and claim prices

Claim price

Maximum reseeding benefit($/acre)

Premium rate by coverage level
($/acre)

70%

75%

80%

$6.50/50lb bag

$3,250

$181.30

$218.23

$255.80


​Calculating your ​​annual premium

Your annual premium is based on:

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

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 factors like past ​performance of the plan, changes to claim prices and the level of the Production Insurance Fund.

Discounts and su​​rcharges

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

Reported number​​ of acres

This refers to the total number of planted acres you report when you finish planting. Once you report your fina​​​l planted acres, Agricorp sends your premium invoice.

Minimum premium

The minimum total customer premium is $100.

​​Claim pr​​ices

The claim price is applied to your yield to calculate a dollar value for the purpose of paying a claim. Your claim amount equals your yield shortfall (total guarante​​ed production minus your total yield) multiplied by the claim price.

​The claim price is based on a fall packer survey and the Ontario Ministry of Agriculture, Food and Rural Affairs’ five-year average survey minus non-incurred costs.





Canadian Agricultural Partnership – Agricorp – Ontario – Canada