Agric insurance was probably not the most important thing to sell when COVID- 19 hit on a major scale in March 2020.
We hoped for just a momentary pause on activities and did not imagine the impact of COVID- 19 on Agric Insurance.
However, nine months later, things are still far from normal.
An industry that has taken quite a beating is the agricultural industry.
Not only did COVID- 19 slow down the market chain, the low rainfall this year has negatively impacted the general output.
Also, food prices are steadily increasing, and some forecast scarcity and even famine in selected regions in coming months.
In the wake of this, Agricultural Insurance has proven necessary for every farmer.
Below are common policies that most farmers will find handy.
Poultry farm insurance
This covers birds including broilers, parent stock, cockerel.
Additionally, this covers ornamental birds against death, disease and accident.
This protects livestock such as pig, sheep, goat, cow against death, flood or disease outbreak.
Fish farm insurance
As the name implies, this policy safeguards fish and fishpond against sudden damage, flood, disease or accident.
This protects against loss of crops due to natural disasters, disease outbreak or loss of revenue arising from decline in crop price.
Farmers and food- manufacturing organisations stand to gain from insurance policies now and in the near future.
This is because forecast on the industry are not favourable.