INSURANCE DETAILS

Crop Insurance


There are two main types of crop yield insurance available, which come under the category of types of agricultural insurance product.

It is self-explanatory what crop insurance guards against - unforeseen problems with crops that lead to a loss of revenue: for instance destruction due to a particularly severe or early frost and so on.

The first type is multi-peril crop insurance: here one can insure against more than a single type of risk, so for instance more than one adverse weather phenomenon can be included in a single package.

This is contrasted with a single type insurance that guards against one particular problem - typically something like hail insurance.

It is also possible to take out crop insurance relating to the income that is generated by the crop, which does not relate to weather conditions. This is to do with the actual price of a crop. Because as we know, prices vary over time, so a crop revenue insurance product is one that will help to cover any decrease in price that happens to occur during the time that the crop is grown (its growing season).

Many governments around the world offer some sort of subsided insurance program for farmers, so it is well worth looking into what is available in your country. For instance it could be that they will pay a certain percentage of the premiums for an insurance product, so it is well worth looking into these. If you are with a large bank that has expertise in the agricultural market, your banking relationship manager should be able to knowledgeable in this area so do ask for their advice.

Related Articles...

Reinsurance
The concept of 'reinsurance' is quite an interesting one. It comes down to the same sort of logic as 'who will guard the guards?' - in this case who will insure the insurers. The answer is, other...

Contents Insurance
Contents insurance is a type of insurance product that covers the items that you have - the contents - of your home. There are a range of different providers of contents insurance out there on...

What Is Insurance?
What exactly is insurance? It sounds like a very basic concept, but it is important to know what insurance is, in order to work out why insurance is so essential to modern-day activities, and why...

Flood Insurance
Flood insurance is a specific product under the umbrella of insurance and it covers - as the name suggests - losses that occur due to flooding. In many cases, this form of protection (flood...

Saving on Home Insurance
Home insurance splits into the bricks and mortar insurance - buildings insurance - and the stuff that you put inside your house such as your valuables - the contents, hence that bit is called the...

Health Insurance
One of the most common insurance products is health insurance, a broad umbrella category that covers any sort of insurance product that helps an individual mitigate against the expenses that are...

Prize Indemnity Insurance
Prize indemnity insurance is a purchase that would be considered by someone offering a large prize and thus could stand to lose a considerable sum of money. This form of insurance would mean that...

Bicycle Insurance
Bicycle insurance, as with all insurance products, gives you a way to deal with the risk of having something happen to your bicycle - depending on the product you choose - and therefore having the...

Income Insurance
Income insurance is sometimes referred to as income protection insurance. As the name suggests, this product is focused around what you earn from work. This type of policy is something that will...

Motorbike Insurance
Motorbike insurance might sound like a bit of a niche category of insurance, but there are actually a huge number of people who ride these sorts of vehicles, and so even within this there are...

 © © Insurance Details    |    Copyright and disclaimer    |    Insurance Details