Poultry Insurance
Agriculture Insurance provides insurance coverage for various agricultural activities like livestock, poultry, fish, crops and fruits and so forth. farming against the risks of fire and natural calamities (earthquake, flood, landslide and storm) and disease.
Prabhu Insurance Company Limited
Agriculture Insurance provides insurance coverage for various agricultural activities like livestock, poultry, fish, crops and fruits and so forth. farming against the risks of fire and natural calamities (earthquake, flood, landslide and storm) and disease.
REQUIRED DOCUMENTS
Documents required for Agriculture Insurance :
- Duly completed claim form
- Land Registration Certificate
- Land Ownership Documents
- Copy of Citizenship
- Personal Identification Proof- PAN Card/VAT Registration.
- Bank Account Details
- Passport-sized photos
- In case of livestock, breed and populations of the stocks.
- Details of farming nature and harvesting periods.
Claim Under Agriculture Insurance
- Claim form duly completed and signed.
- Prabidhik(Technical person)’s report.
- VDC/Municipality report about loss.
- Police report/Muchulka about loss.
- Copy of Lalpurja/Agreement paper.
- Copy of VAT/PAN Registration.
- Copy of Company Registration.
- Copy of Citizenship certificate.
- Treatment related documents of Livestock/Birds.
- Post mortem report of Livestock/Birds.
- Mortality record of Livestock.
- List of destroyed crop and reason behind it's damaged
- Other claims related documents required under merit basis of loss.
What is Agriculture Insurance?
Agriculture insurance is a type of protection policy that covers agricultural producers against unexpected loss of projected crop yields or profits from product sales at the market. It insurance protects the expected revenue due to unexpected yields, which is the volume of a crop’s harvest. Crop-revenue insurance covers expected revenue from loss owing to market fluctuations of crop selling prices. Both types of insurance are a means to aid in disaster recovery for producers due to unexpected events. Causal factors covered under crop-yield insurance could include natural disasters like fire, drought, or flooding with the intention of protecting producers against yield or entire crop loss. Crop-revenue insurance can cover a producer from unexpected fluctuations in the selling ice resulting from reduced demand, bad publicity, or a bumper crop resulting in a flooded market that reduces selling prices.
What Agriculture Insurance Covers?
The following stages of the crop loss are covered under this insurance:
- Localized calamities: It covers localized calamities and risks like hailstorm, landslide affecting isolated farms in the notified area
- Sowing/Planting/Germination risk: Any problem in planting or sowing because of deficit rainfall or adverse seasonal conditions
- Standing crop loss: Comprehensive risk insurance to cover yield losses because of non-preventable risks, such as dry spells, flood, hailstorm, cyclone, typhoon
- Post-harvest losses: It covers losses for up to a maximum period of two weeks from harvesting
How Crop Insurance Functions?
- Policy seeker can get their food crops, oil-seeds, annual commercial crops insured under crop insurance by submitting the required documents and paying the premium accordingly
- But one must choose a policy after evaluating the risks and comparing the different policies and companies
- Sum insured will be decided on various factors, such as the type of crop, location, and calamity years in that area and historical yield data
- In case of crop loss, the insured needs to intimate the insurance company or local agriculture department within 72 hours of calamity
- Claims under crop insurance are done on the basis of localized losses, post-harvest loss, mid-season calamity, and widespread calamities. Hence, the pay-out will be calculated taking factors like weather and yield per hectare
