India is an agrarian society with 75% of the population depending on it, for their livelihood. Agriculture or crop insurance has assumed importance with large scale damage caused due to pest attacks, crop diseases and vagaries of weather. The objective is to provide insurance coverage and financial support to the farmers in the event of failure of any of the notified crop as a result of natural calamities, pests & diseases. The list of crops being covered for insurance differs from state to state. Generally quite a few Kharif and Rabi season crops are covered. These crops are insured at the community/block/gram panchayat levels. Agriculture insurance schemes are of immense help to farmers, providing them with financial security.
Calculation of Agriculture Insurance Amount/Premium:
The amount of premium depends on a number of factors like size of land of the farmer, his financial standing, number of crops being insured and the sum insured.
Agriculture Insurance Claim Procedure:
Farmers can claim from the banks by submitting a claim form. The claim representative will analyse the extent of damage caused to the crops. Based on the report of the surveyor, the claim is given to farmers within a month.
Documents Required for Agriculture Insurance Claim:
The farmer must approach the designated branch / PACS and submit the proposal form in the prescribed format.
The farmer must provide documentary evidence in regard to the possession of cultivable land (copy of the pass book and extract.
Land revenue receipt should be enclosed
The farmer must furnish area sown confirmation certificate, if required.
List of Some of Insurance Companies Offering Agriculture Insurance:
Agriculture Insurance Co. of India - Varsha Bima United India Insurance Co. - Rural Policies * Terms and conditions may vary in different insurance companies
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