FARMERS INSURANCE

INTRODUCTION

Farmers insurance is a category of insurance contract. It is the type of Insurance Policy that serves as a risk management tool for farmers. This is done through the provision of financial protection to them against loses. These losses may emanate from incidents such as drought, flood, hail, pests, wildlife and even fire outbreaks.

Farm visitors can bring pests and diseases onto your farm. And even your farm workers may equally endanger your farms by the use of unhygienic equipments. And even use of unhealthy seedlings etc. These insurance covers may equally extend to damages done to the members of the public or third parties.

Your farm insurance policy may also include public liability insurance coverage which operates to cover members of the public coming to your farms in the event they sustain injury.

Also, if you manufacture what people consume, you run the risk of people getting sick from your products. Having said this, we shall now discuss the nitty-gritty of farmers insurance.

TYPES OF FARMERS INSURANCE

They are various types of farm insurance and they include

1. Crop Farm Insurance
2. Animal Farm Insurance
3. Farm Equipment and Property Insurance

CROP FARM INSURANCE

This is a class of farm insurance policy available to farmers to protect themselves against losses or damages to their crops arising from natural disasters such as drought, hail and floods or losses resulting from decline in the revenue of agricultural crops. Crop insurance can broadly be split into two further categories of crop yield insurance and crop revenue insurance depending on the aspect you intend your insurance policy to cover as well as the agreement between you and your insurers.

ANIMAL FARM INSURANCE POLICY

This is the category of insurance policy purchased by farmers who keep animals or who are engaged in animal husbandry business. The essence of this insurance cover is to protect such farmers against the loss of their animals such as goats, pigs, fishes, birds etc resulting from outbreak of diseases, Natural disinters or even accidents

FARM EQUIPMENT AND PROPERTY INSURANCE

Farmers in the course of their farming business purchase equipment and properties used in the planting, harvesting, processing and packaging of farm products. This class of farm insurance serves to protect the equipment and properties of farmers by providing for indemnity in the event of theft, accidents or even injuries to third parties.

BENEFITS OF FARMERS INSURANCE

There are several benefits of farm insurance and some of them include:

1. It affords protection to the economic concerns of farmers against possible losses.

2. It quickens the adoption of novel farming practices

3. It mitigates the expenditure of governments in relief measures to farmers during losses occasioned by natural disasters.

4. It reduces farmers’ indebtedness.

5. It provides protection to farmers against losses and failures and ensures stability in farming business revenue

6. The presence of farm insurance policy makes it easier for farmers to access loan from cooperative societies and other financial institutions which are sure that there is security for their loans.

HOW TO PROTECT YOUR FARM IN FARMERS INSURANCE

Farm bio security practice helps in protecting your farm from risks common with emergency plant pests entering or establishing on your farm. The under-discussed are ways of protecting your farm.

1. Use of clean farming materials.

it is noteworthy that you must ensure that all materials used for planting are clean. Farm inputs such as seed must be disease free.

• Food and water.

Your food and water sources must be clean and free from diseases and chemicals. Also, your feedstuff must be free from contamination from chemical residues.

• Visitors to your farm.

The visitors to your farm such as, relatives, contractors, veterinarians, friends etc can bring diseases and pests to your farm. Therefore, avoid this, ascertain where your visitors are visiting from to be able to access any risks and take preventive actions. Secondly, it is safer to drive visitors round your farm in your own vehicle. And above all, ensure that you provide protective clothing such as foot wears, and ensure you disinfect them properly.

Similarly, you must keep your vehicles and machineries clean to avoid the entry and movement of pests and diseases on your farm through them. To do this, you have to clean your equipment and vehicles regularly.