Movable Asset Insurance for Farmers
Movable Asset Insurance for Farmers, often referred to as Farmer’s Insurance or Agricultural Insurance, is primarily intended for farmers with livestock engaged in traditional farming operations. The insurance covers all movable assets, such as machinery, equipment, and tools used in farming, feed including hay, crops, and all livestock.
As the policyholder, you specify which movable assets you wish to insure, their value at replacement cost, and their location. We use information from livestock management reports to estimate the value of livestock and feed.
Information regarding the insurance
What type of insurance is this?
Movable Asset Insurance for Farmers covers movable assets, animal feed, and livestock associated with farming operations.
What is covered? | What is not covered? |
|---|---|
| The insurance pays benefits for damages due to: | The insurance does not cover: |
Fire, lightning and explosion. | Operational losses or other indirect damage. |
Livestock being killed by electrocution. | Fire damage that is covered by a property‘s fire insurance. |
A traffic accident that kills cattle or sheep and is not compensated by the person responsible or covered by vehicle liability insurance. | Damage to electric and electronic equipment caused by a short circuit. |
Any limitations on what the insurance covers?
The insurance does cover damage caused by natural disaster.
Where is the insurance valid?
The insurance is valid in the location specified in the insurance policy.
What responsibilities do I have?
You must report any damage as soon as possible and no later than one year from the date of the damage.
You must ensure that all the information in the insurance policy is accurate.
You must inform us of any changes in your address, telephone number, and email address.
You are obligated to follow the precautions in the terms regarding guarding against heat generation and auto ignition during feed collection and storage.
When and how do I pay the premium?
The premium must be paid on the due date. When the insurance policy is issued or renewed an electronic claim is created in your online bank. You have the option to distribute the premium payments by:
Credit card payment, where the premium is charged monthly to a credit or debit card.
Direct payment, where your bank account is debited monthly.
Corporate distribution, where the premium can be paid in monthly payments.
When does the insurance start and when does it end?
The insurance policy takes effect when an offer is accepted and is renewed annually until it is canceled.
How do I cancel the insurance?
Individuals and companies with fewer than five full-time positions can cancel the insurance at any time and it will expire at the end of the following month after the cancellation is received. Other companies can cancel their insurance one month in advance before the end of the insurance period.
The cancellation must be in writing, for example with an electronic signature.