Insurance of crops used in agricultural production

Crop insurance: Protection against losses associated with the cultivation of various crops such as cereals, vegetables, fruits and other plants.

Risks to be insured:

• Weather conditions: Losses from unfavorable climatic conditions such as drought, hail, heavy rain or frost.
• Diseases and pests: Losses due to plant diseases, insect pests or other biological threats.
• Fires: Damage from fires that can destroy crops.
• Floods: Damage from flooding that can hinder or destroy crops.
• Improper use of agricultural machinery: Losses due to damage to or defects in the operation of machinery used to care for crops.

Terms of Insurance:

• Crop types: Certain types of plants that are subject to insurance.
• Geographical coverage: The areas to be insured.
• Period of insurance: The period for which insurance cover is provided, e.g. from planting to harvest.

Damage assessment: The process of determining the amount of loss and terms of indemnity, including an assessment of the level of crop damage or loss.

Policy of Insurance:

• Sum Insured: The maximum amount the insurer is willing to pay in the event of a loss.
• Excess: The amount that the farmer must cover on their own before the insurance company begins to pay compensation.

Additional services:

• Advice and support: Assistance with risk assessment and insurance claims management.
• Prevention and advice: Advice on minimizing risks and preventing potential losses.

This approach to insurance protects the financial interests of the agricultural producer and helps to cope with unforeseen losses arising in the process of growing crops.

What affects the cost of the policy?

• Sum Insured: The total amount for which the crop is insured, which determines the limits of the policy payout.
• Type of crop: The type of crop to be insured, e.g. cereals, vegetables, fruits, etc.
• Number of insured fields: The total number of fields or parcels of land on which the insured crops are grown.
• Location: Geographical location of the fields, which may affect the risks related to climatic conditions and other factors.
• Types of losses covered by the policy: A list of risks and situations that the insurance covers, such as damage from weather, pests, diseases, etc.
• Insurance deductible: The amount that the insured has to cover on his/her own before the insurance company starts paying compensation.
• Prior Loss History: The existence and frequency of previous incidents of loss or claims that may affect the cost of the policy.