Production Insurance
Spring wheat

Rates

These base premium rates are provided for information purposes only. For your own rates and for any surcharge or discount you may have, refer to your renewal notice or coverage confirmation.

2021 P​​​remiu​m rates​​

Coverage type Customer base premium rates by coverage level
($/acre)
70% 75% 80% 85% 90%
Floating claim price
$4.22
$5.64
$7.43
$9.79
$12.54
Fixed claim price
$3.32
$4.44
$5.85
$7.70
$9.86

Prices and v​​alues

Coverage type
Maximum replant claim rate
($/acre)
Unseeded acreage claim rate Claim price
Floating claim price
$111
$7.15/bu Floating
Fixed claim price
$111
$6.10/bu $6.10/bu


​​Calculating your annual premium

Your annual premium (AP) is based on:

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

The premium is calculated using this formula:

AP = number of acres × customer base premium rate × D or S

Customer base premium rate 

The customer 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 Ontario Agricultural Products Insurance Fund.

Discounts and surcharges

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 determined 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 number of planted acres you report after planting. Once you report your final planted acres, Agricorp sends your premium invoice.

Claim p​rice

You can choose from:

  • Fixed claim price - a claim price that is set at renewal time.
  • Floating claim price - a claim price that is set at harvest time. It is determined by the average price of Grade 2 red spring wheat reported, from representative growing regions, during the period August 1 to September 30 of the current crop year.




Canadian Agricultural Partnership – Agricorp – Ontario – Canada