Production Insurance
Plums
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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 plums

Coverage levelCustomer premium rate 
(% of liability)
70%6.74%
75%7.39%
80%8.22%
85%10.04%

2024 Premium rates for plum trees

 Coverage type
Deductible
(% of trees)		Premium
(% of liability)
Standard 
9%No cost*
Additional 
4%
0.16%

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

2024 Claim prices 

Type
Claim price 
European plums$1.16/lb

​Japanese plums
$1.15/lb
​European and Japanese plum trees
$27.03/tree​

​​Calculating your a​nnual 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 premiu​​m 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​​.

Guarante​ed value

Your guaranteed valu​​e 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. 

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Canadian Agricultural Partnership – Agricorp – Ontario – Canada
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