Production Insurance
Spring wheat
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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.

2023 P​​​remiu​m rates​​

​
Coverage type 		Customer base premium rates by coverage level
($/acre)
70% 75% 80% 85% 90%
Conventional​ ​ ​ Floating claim price
$7.11
$9.40
$12.29
$15.96
$20.36
Fixed claim price
$5.58
$7.38
$9.64
$12.52
$15.98
Pedigreed seed
​Floating claim price
​$6.21
​$8.21
​$10.73
​$13.94
​$17.78

2023 Prices and v​​alues

​
Coverage type
Maximum replant claim rate
($/acre)
Unseeded acreage claim rate
($/bu)
 Claim price
($/bu)
​Conventional
​		 Floating claim price
$128
 $11.45
Floating
Fixed claim price
$128
 $9.75
 $9.75
​Pedigreed seed*
​Floating claim price
$128
$11.45​Floating
*In the case of a claim, if the crop does not qualify as pedigreed seed spring wheat based on production contracts and crop documentation, the conventional claim prices are used and no premium is refunded.

​​Calculating your annual premium

Your annual premium is based on:

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

The premium is calculated using this formula:

Premium = customer base premium rate × number of acres × 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.

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.

Discounts and surcharges

If you have had Production Insurance coverage for a commodity for more than one year, your premium rate may be discounted or surcharged. Discounts and surcharges are determined by comparing your individual claim rate for a commodity to the claim rate for the commodity as a whole.

Claim prices

Fixed claim prices are set at renewal. Floating claim prices are set at harvest.

If you grow…Floating claim prices is determined by…
Conventional spring wheatCalculating the average price of Grade 2 red spring wheat from representative growing regions during the period from August 1 to September 20 of the current program year.
Pedigreed seed spring wheatAdding a price premium to the floating claim price for conventional spring wheat for the program year. This premium is based on an industry survey of price premiums offered to contracted growers of pedigreed seed spring wheat.
Canadian Agricultural Partnership – Agricorp – Ontario – Canada
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