Crop Yield Insurance gives you a guaranteed yield for your crops. Simply put, if the yield falls below the guaranteed level, you will get an indemnity payment from the insurance company.
Risks covered
You can choose to cover a selection of risks or all weather risks – in a nutshell:
- Hail & Fire
- Hail & Fire & Wind
- All-Risk (Hail & Fire & Wind, plus drought & excessive moisture / excess of water)
Period of cover
From spring time (renewal of vegetation) till harvest.
Insured sum
Insured sum (UAH) =
Guaranteed Yield (MT/ha) * Insured Price (UAH) * Area (ha)
Insurance premium
Insurance premium (UAH) = Insured Sum (UAH) * Insurance Tariff (%)
Trigger of insurance
Indemnity is paid out in case the actual yield is lower than the guaranteed yield, as a result of the occurrence of one of the covered weather risks.
Indemnity
The indemnity is equal to the difference between the guaranteed yield and the actual yield, valued at the price set in the insurance contract. A deductible (the share of loss not compensated by the insurance company) ranging from 10% to 30% of the insured sum applies.
Insurance subscription process
You can subscribe in 3 easy steps:
- Application for insurance and quote.
- Field survey by an accredited agro expert.
- Confirmation of the insurance conditions, signature of the insurance contract and payment of the insurance premium.
Claims process
The claims process is fair, quick and transparent.
- Notification of occurrence of a weather event / loss.
- Visit to the field by an accredited loss adjuster at each weather event / loss.
- Measurement of the actual yield by an accredited loss adjuster before harvest.
- Payment of the indemnity within 30 days.