Rates

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

2024 Premium rates for peaches and nectarines

Coverage type	Customer base premium rates by coverage level (% of liability)
Coverage type	70%	75%	80%	85%	90%
Multi-peril	3.55%	4.16%	4.90%	6.48%	9.34%
Hail only	0.39%	0.46%	0.54%	N/A	N/A

2024 Premium rates for peach and nectarine trees

Coverage type	Deductible (% of trees)	Premium (% of liability)
Standard	11%	No cost*
Additional	6%	0.12%

*The federal and provincial governments pay the premium on your behalf.

2024 Claim prices

Type	Claim price
Fresh and processing peaches	$0.80/lb
Fresh nectarines	$1.04/lb
Peach and nectarine trees	$23.20/tree

Calculating your annual premium

Your annual premium is based on:

Base premium rate
Guaranteed value
Discounts and surcharges (D or S)

The premium is calculated using this formula:

Annual premium = base premium rate × guaranteed value × D or S

Base premium rate

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 Ontario Agricultural Products Insurance Fund.

Guaranteed value

Your guaranteed value is determined by multiplying your guaranteed production by your selected claim price.

Guaranteed value = guaranteed production × selected claim price

Discounts and surcharges

If you have had Production Insurance 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.

For more information, seeDiscounts and Surcharges.