What is Agriculture Insurance policy?
Crop Insurance is purchased by agricultural producers, and subsidized by the federal government, to protect against either the loss of their crops due to natural disasters, such as hail, drought, and floods, or the loss of revenue due to declines in the prices of agricultural commodities.
Types of Plans
There are different plans from different insurance companies. Some of them include:
The yield-based “National Agriculture Insurance Scheme (NAIS)”, “National Crop Insurance Programme (NCIP)” and the weather-based “Weather Based Crop Insurance Scheme (WBCIS)”.
Why buy insurance on InsureMile online platform?
● Because enquiry about insurance quotes, buying of insurance and other transactions are simple, transparent and competitive on InsureMile platform
● Because InsureMile does not ask you for your phone number or email details, thus you are not harassed by unwanted calls or mail.
● Because InsureMile will guide you, whenever you need any assistance
What is meant by the agriculture plan?
Agriculture is one of the largest primary occupations in India. It is the prominent sector that provides food to our country. The cropping pattern may undergo changes due to climatic changes and calamities. Farmers will require funds to recover from natural disasters like storms, heavy rainfall, flood, lightning, drought, cyclones, landslides and so on. There are a number of general insurance agriculture plans available for farmers. The Agricultural Insurance Company of India Ltd offers various insurance options.
What are the general insurance agriculture policies by private insurers?
Other than AIC, there are insurance companies providing agricultural insurance. They term this under the category of General Insurance as of the IRDA regulations. These cover post-harvest losses, shortage of yield due to calamities and losses due to adverse climatic conditions. They also cover the farmers with insurance under the National Crop Insurance Program. The premium is based on the type of crop and location. Farmers can compare general insurance agriculture plans of the different insurers to choose the best. Farmers, banks and companies supporting agricultural equipment are eligible for general insurance agriculture policy.