This is a comprehensive policy that covers loss or damage to biological assets (crop and livestock), agribusiness building and structures, machinery, office equipment, injuries to employees and business interruption leading to loss of profit.
Farm Protector Insurance
What is farm protector insurance?
- Section 1: Agriculture Insurance for the biological assets (livestock, crops, or plants) owned by the farmer.
- Section 2: Machinery Breakdown to cover the sudden and unforeseen physical loss or damage to the machinery directly related to productivity and/ or processing in the agribusiness.
- Section 3: Building and structure cover against sudden and unforeseen physical loss or damage to the buildings, structures, fittings, and fixtures.
- Section 4: Office Equipment cover to provide cover against sudden and unforeseen physical loss or damage to the office equipment within the property insured.
- Section 5: Loss of Use which is restricted to animals covered under Section 1. It provides coverage in the event an animal becomes totally and permanently incapable of fulfilling its principle use as declared at inception following an injury or illness.
- Section 6: Work Injury Benefit Act (WIBA) which provides the employer’s financial obligation under the WIBA act to compensate workers injured out of and in the course of employment.
- Section 7: Goods in Transit to offers protection against loss, destruction, or damage to goods during transportation.
- Section 8: Deterioration of stock to provide cover for any loss or damage to perishable goods kept in cold storage resulting from loss of or damage to the machinery insured in section 2.
- Section 9: Loss of Profit resulting from interruption of production caused by either death or loss of insured productive livestock/crop or plants.
- Section 10: Farm Motor Vehicles owned by the farmer.
The insurance pays for the damage or losses for the insured under Section 1: Agriculture Insurance and any other section which the insured has opted to insure.
- Transit risks of insured livestock in the event that Geminia Insurance is not informed 3 days prior to the transportation.
- Losses arise from feed or spray poisoning.
- Death of animals arising from pre-existing conditions.
- The inability of the insured animal to perform the tasks for which it is employed for.
- Treatment and vaccination costs.
- Theft of animals in areas prone to cattle rustling and banditry actions.
- Unaccounted disappearance.
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