What is the definition of Crop-Hail Insurance?

Crop-Hail Insurance protects the insured against losses to growing crops caused by hail, lightning and fire. This is a protection provided to farmers since farming is a very risky matter. There are a lot of things that can happen to destroy the crops. Crop-Hail insurance is there so that farmers can focus on the task of farming, without having to worry about all the probable scenarios that would lead to his loss of his crop.

Some risks that may be protected under the crop-hail insurance are adverse weather conditions (a tornado, a drought), damage from wildlife and pest infestations. There can also be protection against a fast decline of the prices of the produced crops.

The crop-hail insurance policy specifies the kind of crop being planted, as well as the coverage of the risks. When the farmer buys the policy, the insurance company appraises the crop and gives a fair price for it. This will be the basis of the payout when the farmer makes a claim.

• Competitive State Fund
• Captive Agent
• Blanket Insurance
• Businessowners Policy / BOP
• Employer’s Liability