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Rates
Page Content 2024 Premium rates and claim prices
Coverage type |
Maximum
replant claim price
($/acre) |
Claim price |
Premium rate by coverage level
($/acre) |
80% |
85% |
90% | Total production coverage | Lesser of transplant costs or $850
| Industry negotiated | N/A
| N/A
| $108.94
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About premiumsPremium 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. Your premium = premium rate × number of acres DiscountYou may be eligible for a 20% discount if: - You insured your tomatoes the current and preceding year.
- You have enrolled in the tomato Production Insurance plan for at least five years.
- Your total premiums (customer and government share from all years insured) are greater than your total claims (from all years insured).
For your own premium rates, including any discount you may have, see your Renewal Notice.
Claim price- Used to calculate any potential claim under production loss coverage.
- Set by Agricorp.
- Based on crop-specific information from the Ontario Processing Vegetable Growers (OPVG).
For tomatoes, the claim price is based on 90% of the current year's estimated blend price by processor. Each processor provides their estimated blend price information to the OPVG, who then provides it to Agricorp. The estimated blend price is calculated using:
- Current year's contract price of juice, whole peel, paste, and bulk paste
- Previous year's end-use percentage of juice, whole peel, paste, or bulk paste
- Current year's productivity factor
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