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AGRICULTURE INSURANCE
Agriculture contributes a significant percentage to Kenya’s Gross Domestic Product (GDP). Agriculture risks therefore need to be managed well to sustain and improve the importance of agriculture to the economy. Imagine waking up one day to find all your livestock stolen or dead and without any other means of income.
Whether you’re involved in livestock rearing or crop farming, we understand your need for an insurance policy to protect your livelihood. We will help you manage your risks appropriately and protect your farm from unfortunate outcomes.
Agriculture insurance provides protection or compensation to farmers for loss or damage to their crops and livestock. They provide the insured with coverage against crops or livestock loss through probable eventualities such as diseases, drought, theft, injury to livestock and reduced yield as opposed to the insured’s yield prospects.
The basis of premium computation depends on the type of crop or livestock being insured. With the support of professionals such as agronomists and veterinary officers, the insurer is able to establish the extent of risk exposures and also monitor the performance of the crops.
Crops covered include rice, wheat, coffee, tea, maize, barley, sugar cane and tobacco. Livestock include cattle, poultry, pigs, goats, sheep, horses and any other livestock of economic value. Claims are determined by qualified experts who inspect and scientifically quantify the magnitude of the loss.
WHAT YOU NEED TO KNOW
Crop Insurance
This covers crops against physical loss or damage. The perils covered include fire, windstorm, hailstone damage, excessive rainfall or floods, drought, frost and uncontrollable pests and diseases. Crops covered include crops such as wheat, maize, rice, tea, coffee, barley, tobacco, tree crops, horticultural crops and floriculture.
Livestock Insurance
It provides cover against death and theft of animals. This may be as a result of accident, fire, lightning, flood, diseases or emergency slaughter on medical grounds. livestock covered include cattle, poultry, pigs, goats, sheep, horses and any other livestock of economic value.
Index Based Insurance
This is a relatively new but innovative approach to insurance provision that pays out benefits on the basis of a predetermined index (e.g. rainfall level, quality of the pastureland) for loss of investments, primarily working capital, resulting from weather and catastrophic events.