Farmer Asset Insurance
What Is Farmer Asset Insurance
Farmer Asset Insurance is designed to protect the valuable assets of farmers—such as equipment, machinery, buildings, and storage structures—from damage or loss due to natural disasters, fire, theft, or other unforeseen risks. It ensures that farmers can recover and continue operations without facing severe financial setbacks.
Key Features Of Farmer Asset
Following are Key Features
- Comprehensive
- Support
- Accessibility
- Coverage
- Flexibility
- Inclusivity
Who Should Buy a Farmer Asset Insurance
Small & Marginal Farmers
Medium and Large Farm Owners
Commercial Agri-Farmers Agri-Entrepreneurs Farmer Organizations (FPOs) Co-operative Farming Groups
Benefits of Farmer Asset Insurance
Benefits Cover
- Reduces financial burden from asset damage or loss
- Enables quick recovery and continuity of farm operations
- Provides peace of mind during natural disasters
- Supports long-term sustainability and investment in assets
- May help secure loans against insured assets
- Affordable with government support in some schemes
What is the most important asset of a farmer?
Soil is the most fundamental resource for the farmer, without which food and natural fibre cannot be produced. Furthermore, it is often also the most expensive single capital asset of the farmer. Soil is also a scarce resource, the availability of which on earth is limited.
Documents Required
- Duly filled proposal form
- Ownership proof of assets (purchase invoice, registration, etc.)
- Photographs of the insured assets
- Farmer ID or Aadhaar Card
- Address and landholding proof
- Bank account details
Identification of Animal
- Type and value of each insured asset
- Age and condition of equipment or structure
- Location and exposure to natural risks
- Sum insured and coverage duration
- Add-on covers opted (e.g., transit, theft)
- Claim history (if applicable)
- Group vs. individual policy options
