Crop Insurance
Crop
Insurance
Need Insurance?
You've come to the right place.
Features
Damage due to local calamities
like hailstorms, landslides, etc.
Risks related to sowing / planting / Germination
Loss to the standing crop
Damage to post-harvest crop
The Plan helps to stabilize farm incomes
Financial support and coverage in the event of natural calamities, diseases and pests
Encourage farmers to implement progressive farming practices technology
Benefits
- Financial Support
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The fact that the insurance will provide financial support in the unfortunate event of crop failure. It will thus be a critical instrument in the development of crop production.
- Higher Technology
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Encourage farmers to adopt progressive farming practices and higher technology in Agriculture.
- Agricultural Credit
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Crop insurance helps farmers maintain the flow of agricultural credit.
- Economic Growth
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On a larger scale, it is not just the insured farmer who will be benefited from the crop insurance. The entire community will be directly and indirectly benefited in the form of maintaining production & employment, taxes, generation or market fees etc. Further, the net accretion to economic growth will be affected.
- Loss Assessment
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Another important benefit is that crop insurance streamlines loss assessment procedures and also helps to build up an accurate statistical base for crop production.
Add-Ons
- Family Rider
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A 1-4 Family Rider is typically required for multifamily investment properties with up to four units or two-to-four unit properties that are owner-occupied. This type of rider permits the lender to collect rent from the property if you default on the loan. Any rent the lender collects goes to pay down the outstanding loan balance until the default is cured. If you pay your mortgage on time and do not default on your loan, a 1-4 Family Rider should never be an issue. If you default on the loan, the rider provides protection for the lender because it can use rental income from the property to pay the mortgage.
- Condominium, Co-Op or PUD Rider
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This rider is required for mortgages on condos, co-ops and PUD (planned unit development) properties. The mortgage qualification requirements for these properties are different than for a single family home, as outlined in the rider. For example, to qualify for a mortgage on a condo, you are required to provide additional documents and have different insurance coverage.
- Second Home Rider
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This rider is required for a mortgage on a second home or vacation home
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