National composite rates on these crops vary according to the type of farmer enrollees and the scope of insurance coverage. Premium rates among rice farmers, for instance, are slightly lower than those of corn farmers. Rates among borrowing farmers, meanwhile, are a bit lower than those who are self-financed.Based on scope, premium rates involving multi-risk perils are slightly higher than those pertaining solely on natural disasters. Multi-risk perils involve natural calamities as well as crop destruction due to plant diseases and pest infestation.
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The amount of premium also variesamong low, medium-and high-risk areas. For instance, rice crops in Isabela which arefrequently visited by typhoons are assessed with higher premium rates than those from the almost typhoon-free province of South Cotabato