At Platinum Agri Brokers, we strive to not only offer you a good quote, but also take the necessary care to ensure that you as a client can indeed have a claim for damages and that this can be determined correctly.
The cheapest option is usually not the best coverage, but we always try to look at the customer’s pocket and which product hedges his/her risk best.
Harvest protection comes in the form of multi-risk insurance policies and hail insurance policies.
Crop insurance agents act and advise in the interest of the farmer during the entire planting, growing and harvest season, to help intercept any losses that might occur. Platinum Agri Brokers have all the expertise to provide full specialist cover against hail and multi-risk factors. Crop insurance can never cover profit, but it can limit loss to such an extent that the farmer will be able to plant the next season without having to resort to debt.
Hail insurance can be taken out at any point during the season and cover will be activated 7 days after signing the necessary documentation.
It is very important to insure while planning the upcoming season, instead of insuring during your very busy planting season. Your planned hectares could still be corrected after you’ve planted your last crops. If you insure every hectare upfront, you eliminate the problem of waiting seven days for your cover to be activated. You receive much more value for your money if you insure before you plant any of your crops.
Hail insurance cover includes:
Frost is covered until 31 March for some types of crop.
* Make sure a sliding scale is included in your policy for your type of crop, this effects the amount of damage that is calculated. The sliding scale progressively increases your damage so that 85% damage = 100% damage.
INCOME GUARANTEE OR MULTI-RISK COVER
Traditional multi-risk policies have phased out over time, due to it’s cover not being sufficient
to cover farmers input costs.
Income guarantee policies are the latest products to cover risks like drought, excess rain, floods,
uncontrollable diseases, pests, frost after 31 March of every season and the SAFEX market price.
These policies can be acquired through an application process for which we need the following:
Applicants FICA documents
Maps
Planned type of crop per field
Soil Analysis done by your Fertilizer Supplier
Soil Classification maps are not required, but can improve your chances of getting a better approved yield and guarantee %.
| 5% Franchise | 5% hail damage = no claim,
as soon as hail damage is more than 5%, everything is paid out: 6% damage = 6% hail claim |
| 10% Franchise | 10% hail damage = no claim,
if hail damage is more than 10%, everything is paid out: 11% damage = 11% hail claim |
| 5% Excess | 5% hail damage = no claim,
first 5% damage for own expense: 6% damage = 1% hail claim |
| 10% Excess | 10% hail damage = no claim,
first 10% damage for own expense: 11% damage = 1% hail claim |
The best way to predict the future is to create it. Invest in peace of mind; ask a Platinum Agri broker how you can spread risk with various insurance options.
RN: 2013/010582/07 is an authorised financial services provider. FSP License nr 44849
