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Agriculture Crop Insurance
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What is Crop Insurance?
Agriculture sector is demographically the most significant and broadest economic sector in India. Even a marginal dip in the agricultural production has trickled down effect on the whole economy. The variation in production is directly affected by many unfavourable conditions such as pest attacks, variations in weather conditions such as rainfall, temperature, humidity, etc. Thus, the need of the hour is to secure the yield and yield-based losses. Therefore, HDFC ERGO is offering a comprehensive Yield-based Crop Insurance Policy along with weather insurance which is aimed at covering the production risks faced by the agricultural sector. This policy covers any shortfall in yield resulting due to Natural Fire and lightning, Storm, Hailstorm, cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood, Inundation, Landslide, Drought, Dry spells, Pests/ Diseases, etc.
What’s covered?
Death of cattle
Any shortfall in yield resulting due to Natural Fire and lightning, Storm, Hailstorm, cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood, Inundation, Landslide, Drought, Dry spells, Pests/ Diseases, etc.
What’s not covered?
- The burning of the property by order of any public authority or subterranean fire
- Fire during harvest due to spark originating from engine exhaust and/or other hot machinery parts on harvesters and/or tractors
- Controllable diseases, weeds and/or controllable insect infestations
- Theft / clandestine sale of the Insured Crop
- Poor crop stand due to either defective seed / sampling or unfavourable conditions prevailing during sowing period.
- Crops destroyed due to the action of birds and animals.
- Acts of Terrorism Loss or damage
- Loss occurring due to industrial pollution and / or toxic waste
- Any loss incurred to any crop which has been harvested prior to inspection by our loss assessor.
Who can take this policy?
- Farmers
- Banks
- Financial institutions / companies extending credit facility for agricultural operations, whose repayments are affected by yield factor.