About premiums
Premium rates are cost-shared with government.
- 60% of premiums is paid by federal and provincial governments, plus 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.
Your premium = premium rate x guaranteed value
Guaranteed value = guaranteed production X contract value
Guaranteed production = Average Farm Yield x acres X coverage level
If you have been enrolled in the program for more than one year, your premium rate may be discounted or surcharged based on your claim history for the commodity.
For your own premium rates, including any discount or surcharge you may have, see your Renewal Notice.
