Farm Insurance Broker

Farm Insurance Broker

Farm Insurance: Invest trust, yield confidence

In India, agriculture still remains a major contributor to the nation’s GDP and employs a large chunk of the population. Inspite of many advancements, farming in the country is dictated by natural factors such as rain, climate and seasonal changes. In such a case, the role of Farm Insurance and Farm Insurance Brokers becomes indispensable.

To understand why Farm Insurance is so important and how Farm Insurance Brokers can facilitate the whole process, go on reading below.

What is Farm Insurance?

Farm Insurance is a comprehensive plan which shields farmers against losses arising due to production problems. It covers the pre-sowing and post-harvest components of farming as well as other irregularities which may be included in the policy. In India, Farm Insurance is available under the government scheme of Pradhan Mantri Fasal Bima Yojna introduced in 2016.

At Life & General Insurance, one of the leading Farm Insurance Brokers in India, we help you understand the areas which your Farm Insurance policy covers and excludes, so you can make an informed decision.

Inclusions generally involve

  • localised calamities such as hailstorm, landslide, inundation affecting isolated farms in the notified areas
  • prevented sowing/planting due to rainfall deficit or adverse seasonal conditions
  • standing crop losses due to drought, pests and diseases, flood, inundation, dry spells, typhoon, landslides, hailstorm, cyclone, hurricane, natural fire, lightening, storm, tornado
  • post-harvest losses for up to maximum of two weeks after harvesting

Besides these, there are exclusions such as losses due to war and nuclear risks, malicious damage and other preventable situations which should be thoroughly studied via Farm Insurance Broker to zero-in on the perfect plan which suits your needs.

Why Do You Need Farm Insurance?

As Farm Insurance Brokers with years of experience and expertise in this field, we keep stating the importance of crop insurance and safeguarding yourself against the conditions which are beyond human control. Let’s take a look at few of the major advantages of having Farm Insurance policy.

Financial support: Farm Insurance provides monetary support to farmers and hence protects them from losses due to unforeseen events.

Tax Exemptions: Farmers can avail tax exemptions on the premium they pay for the policy.

Modern Technology: It encourages farmers to take up newer and advanced methods of farming which in turn can boost their incomes.

Contribution To Economy: Country’s economic performance will be strengthened as farmers continue with farming as a mode of sustenance, due to minimised losses.

No More Private Borrowing: Farmers don’t have to rely on practices such as borrowing money from private lenders at higher interest rates.

Get your Farm Insurance quote now!

Agriculture and allied activities remain the livelihood of a lot of people in India and is one of the major occupations. In a country like ours, where penetration of technology is low and natural factors play an important role in the yield, it becomes important to have a comprehensive Farm Insurance plan. Life & General Insurance is amongst the most trusted Farm Insurance Brokers in India and has helped farmers all over, manage the associated risks efficiently. To know more or to get a quote, fill out the contact form here.