2024 Premium rates
| Option | Coverage type | Premium rate (% of liability) |
|---|
| Insufficient rainfall | Base
| 2.30%
|
| Monthly weighting | 2.95%
|
| Bi-monthly | 6.94%*
|
| 3-month | 3.88%
|
| Excess rainfall | 5 mm threshold | 4.53%
|
| 7 mm threshold | 3.02%
|
*A small portion of this premium rate has a higher premium cost. You pay 67% of the high-cost amount, and the federal and provincial governments pay the rest. The extra cost factors in high-risk commodities or risk-splitting, like choosing single-peril coverage or insuring separate orchards, hybrids, or harvest periods.
About premiums
Premium rates are cost-shared with government.
- 60% of premiums is paid by federal and provincial governments, plus all 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.
Note: Some commodities have high-risk coverage options at a higher cost.
Your premium = premium rate × coverage value*
* You may choose to insure your forage from a minimum of $2,000 up to a maximum that is equal to your total forage crop value. There is no minimum acreage to participate. If you enroll in both the insufficient rainfall and excess rainfall options, your chosen coverage value for your hay/haylage portion must be the same for both options.
For your own premium rates, see your Renewal Notice.
