PLANTATION / HORTICULTURE INSURANCE

1. This policy can be issued to cover the following plantations/Horticulture crops.

(a) Horticulture Crops:

(i) Grape
(ii) Citrus (Orange, Lime, Sweet Lime)
(iii) Chikoo
(iv) Pomegranate
(v) Banana

(b) Plantation Crops:

(i) Rubber
(ii) Eucalyptus
(iii) Poplar
(iv) Teak Wood

(c) Sugarcane:

(d) Mangium
(e) Vanilla
(f) Areconut
(g) Cocoa

(a) Insured: 

Individual farmer whether owner or tenant engaged in cultivation of one or more of the crops specified in (1) above. However, a policy may be issued in the name of an Association or an organised and registered body of farmers engaged in cultivation of the specified crops where such association/body has been formed and is functioning for the purpose of procurement of inputs, processing/marketing of the produce and or any other allied purpose(s) provided particulars of each member-farmer arerecorded in a schedule (to be attached to and forming part of the policy) in a manner that in the event of loss, claims can be assessed and settled on
individual basis.

(b) Subject-matter to be covered: 

The policy shall cover (and claims shall become payable in the event of) loss or damage to
(i) Fruits-in respect of crops listed in 1 (a) above
(ii) Trees- in respect of crops listed in 1 (b) above (shoots in case of Sugarcane crop) – due to occurrence of any of the perils specified in (d) below.

Note: Loss of or fluctuation in yield/produce of crops (trees) listed above whether due to insured or uninsured perils shall be excluded and shall not be taken into account at the time of claim assessment

(c) Period of Insurance:

Crop durationor twelve months (one year) whichever is shorter, subject to the following:

(i) Period of insurance in respect of Sugarcane crop shall be extendable by such period beyond twelve months (upto a maximum of eighteen months) as may be necessitated by the variety (e.g. Adsali) grown. This will, however, entail additional premium on pro-rata basis for such period as may be in excess of twelve months.

(ii) In respect of Rubber, Eucalyptus, Poplar and Teak-wood where plants are first required to be raised in nurseries and then fields, the period of insurance shall commence after expiry of twelve months from transplanting (nurseries are not covered).

Sum Insured:

Sum Insured shall be based on the cost of cultivation i.e. input cost or cost of raising/development of insured tree(s) – whichever items is applicable depending on the crop which is insured.

(f) Rate of premium: 

Premium shall be charged for different insurable crops at the following rates:

(i) Horticultural crops:

Crop(s) Rate of Premium (Net) Citrus fruits (orange, lime, Sweet Lime), Chikoo, Pomegranate, Banana, Grape (Standard cover)  - 5.00% of Sum Insured Grape (Optional cover) Additional -  1.50% of Sum Insured.

(ii) Plantations - Rubber, Eucalyptus, Poplar, Teak Wood - 1.25% of Sum Insured

(iii) Sugarcane -  1.25% of Sum Insured

(iv) Mangium, Vanilla, Areconut, Cocoa - 1.25% of Sum Insured

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