This insurance plan has been introduced to provide insurance cover for agricultural implements including tractors used by those in the agriculture industry. This cover is applicable for agricultural equipment like leaf threshers, water pumps, tillers. This insurance scheme is designed to cover natural damage during the use of these equipments in the field. The basic coverage of this insurance scheme covers fire, accidental damage and theft and does not cover damage caused by willful damage, improper maintenance of equipment etc.
Tractor and Agricultural Equipment Insurance
This insurance plan has been introduced to provide insurance cover for agricultural implements including tractors used by those in the agriculture industry. This cover is applicable for agricultural equipment like leaf threshers, water pumps, tillers. This insurance scheme is designed to cover natural damage during the use of these equipments in the field. The basic coverage of this insurance scheme covers fire, accidental damage and theft and does not cover damage caused by willful damage, improper maintenance of equipment etc.
Reserve amount per acre is Rs. If less than 100,000, all natural hazards including flood, drought and wild elephant risks are covered and the insured amount is Rs. 100,000 or more and all risks are covered.
| Nature of Insurance | Risk Coverage | Insurance Premium (In Sum Assured per Acre) |
| Sum assured per acre is less than Rs.100,000/- | All natural hazards including flood, drought and wild elephants | |
| 100,000/- per acre | All risks | If the sum insured for sister is Rs.100,000/- then the insurance premium for Rs.100,000/- is 6.4% = 6,400/- |
| 100,000/- more per acre | All risks | In addition to the 6.4% insurance premium up to Rs.100,000/- per acre, an additional insurance premium of 9% will be charged for the amount exceeding Rs.100,000/-. |
To obtain insurance coverage related to Tractor and Agricultural Equipment Insurance,
Meet the District Offices of Agricultural and Agrarian Insurance Board / Representatives of Agricultural and Agrarian Insurance Board / Agricultural Research and Production Assistant Officers in your area.