Agricultural Pump-Set Insurance
Agricultural Pump sets Insurance is suitable for insuring pump sets used for agricultural purposes. Some insurance is issued to cover pump sets used for domestic purposes.
Who can take this Policy ?
A The Proposer may be any individual or Group of people who are either owner or have bonafide interest in the protection of the Agriculture Pumpset.
Coverage
Agriculture Pumpset Insurance Policy indemnifies the Insured against the loss/damage of Pump set arising out of -
- Fireand/or lightning
- Mechanical/Electrical Breakdown
- Riot, Strike, Malicious damage.
- Earthquake
- Terrorism
- Flood can be covered as an Add on cover under this Policy
Basis of Indemnity under the policy will be on reinstatement value basis.
PMFBY/WBCIS/CPIS/PMSBY/Govt. Schemes
Pradhan Mantri Fasal Bima Yojana
The Pradhan Mantri Fasal Bima Yojana (PMFBY) was launched on 18 February 2016 by Prime Minister Narendra Modi is an insurance service for farmers for their yields. PMFBY aims to provide a comprehensive insurance cover against failure of the crop thus helping in stabilizing the income of the farmers.
Weather based Crop Insurance Scheme
Weather based Crop Insurance Scheme (WBCIS) provides protection to the insured cultivators in the event of loss in crops yields resulting from the adverse weather incidences, like un seasonal/ excess rainfall, heat (temperature), frost, relative humidity etc.
Coconut Palm Insurance Scheme (CPIS)
Coconut is cultivated under rain-fed management and is susceptible to biotic and abiotic stresses. The Coconut Palm Insurance Scheme (CPIS) is a program designed to provide financial protection to coconut farmers in the event of crop loss due to natural calamities. Implemented in various regions, CPIS aims to safeguard the livelihoods of coconut growers by offering insurance coverage against adverse weather conditions and pest attacks.
Pradhan Mantri Suraksha Bima Yojana (PMSBY)
PMSBY is not a Mediclaim, i.e., there is no provision for reimbursement of hospitalization expenses following accident, resulting in death or disability. Pradhan Mantri Suraksha Bima Yojana (PMSBY) is one of three social security schemes that the government had announced in the 2015 Budget.
