HDFC ERGO’s Crop Insurance Assures Total Protection against Bad Harvesting

India, being primarily an agriculture based economy also witnesses one of the highest rates of suicides committed by the farmers. The reasons primarily being weather and price inflation, the Indian farmers succumb to heavy debts.

But premium insurance companies like HDFC ERGO have introduced some comprehensive covers that help farmers fight their woes. Crop insurance is a comprehensive product that provides protection against calamities like hailstorm, floods, thunder, lightning, fire, pest, dry seasons, tornado, hurricane, pests, etc. Indian farmers are extensively dependent on rain because more than 70 per cent of them are based on rain-fed farming. Adverse dry season even for a single day causes a lot of destruction on the part of the farmers and this is where the crop insurance comes as a lifesaver for the needy farmers.

Image courtesy: layoutsparks.com

The major calamities covered in HDFC ERGO’s Crop insurance are:

• • The policy covers any sort of shortfall in yield caused due to hailstorm, floods, thunder, lightning, fire, pest, dry seasons, tornado, hurricane, pests, drought, etc.
  • The losses that a farmer incurs, due to the inability of sowing, harvesting or planting his crop owing to the risk of deficit rainfall or adverse seasonal conditions.
  • The crop insurance also covers any sort of post-harvest losses which may destroy the yield.
  • Losses due to abnormal price inflation and market downturn

As per the experts, the benefits of the crop insurance has lessened the woes of Indian farmers manifold as they have an assured protection policy that guarantees a coverage against the mentioned calamities or bad fortune. As per recent reports, the debts of the farmers and livestock herders have also dropped down significantly and the grim situation of Indian farmers has already started to improve impressively. The poor and helpless farmers, who had to balance their heavy debts due to failed harvesting even at the cost of their lives, now have an assured protection that offers financial help in times of need.

Moreover, the insurance plan and the claim settlement policy has also been kept simple and hassle free by HDFC ERGO so that when they actually need financial help and support they do not have to run around for documents. It is a completely easy and transparent process that only requires some simple documents. At the time of making a claim to the insurance company, all that is required to be produced by a farmer are a completed claim form,certificate from certifying agency nominated by Government or by the insurer that certifies that it is a genuine case, land records as per Government norms and two photographs of damaged crops. The documentation is minimum and the settlement period is short. With such benefits at hand, farms must utilize these advantages and concentrate more on agriculture rather than on debts and losses.

HDFC ERGO Cropinsurance is a major boon to the Indian farmers who fight the natural calamities, price inflation and post yield losses. The policy covers most of the losses that a farmer incurs thus covering him financially. With claim settlement documentations being kept minimum and settlement period very short, farmers can now utilize most of their time in enhancing agricultural productivity rather than thinking of losses.