The Agricola Policy is designed to cover the main concerns of growers following a hail or fire loss -loss of produce production, increased orchard management costs, and loss of future earnings. For bearing trees, we offer three cover options - Loss of Yield of Produce, Increased Costs and Future Loss of Profit. For non-bearing trees, we offer two cover options - Increased Costs and Future Loss of Profit. You may select the cover options and amount of cover to meet your specific financial needs.
We cover hail and fire - you may select one or both of these. Limited transit cover is also automatically provided.
You have two options for insuring your produce - with fixed, agreed values per hectare, or with our adjustable yield option. Most growers prefer the fixed option. With the fixed, agreed value per hectare option, you nominate a value per hectare which may reflect your expected income from your produce or, alternatively, your production costs - the value you choose is up to you. Following a loss, the percentage loss of yield is simply applied to the value per ha we have agreed upon. With the adjustable yield option, you estimate your yields and nominate a value per tonne. Following a loss, the percentage loss of yield is applied to the lesser of the estimated yield or the potential yield. If you have overestimated your yields, we will refund premium as long as we receive a fully completed Harvest Declaration by the specified date.
You can insure for the increased orchard management costs that you incur following an insured loss, or for the need to mitigate an insured loss, such as purchasing and replanting new trees, removal of debris, clean up, pruning, additional application of fungicides, fertilizer or insecticides, and associated labour costs. Post harvest costs are not covered.
A severe loss to your trees may necessitate replanting and may affect future productivity of your trees. You may therefore suffer a Future Loss of Profit in subsequent seasons. Under this option, we compensate you for an agreed value per hectare, which you nominate, when trees in all or part of your orchard are destroyed, or if you suffer a 100% loss of yield. Claims are paid in the current policy period.
Losses to produce in transit from the orchard to the packing shed or cool store as a result of fire, flood, collision or overturning of the transporting vehicle are automatically covered for a period of 24 hours from harvest. Valid claims over $500 are paid in full, up to $50,000. Ancillary Property Cover is available for trellises, above ground irrigation pipes and irrigation sprinklers against losses due to the same insured risks as you select for your bearing and non-bearing trees. Valid claims over $500 are paid in full, up to the Ancillary Property sum insured.
You may choose the level of excess you prefer for Loss of Yield of Produce on either a per block or whole orchard basis. Under a block excess, the excess % will be applied to the sum insured of each insured block you itemise on your crop schedule, subject to a minimum excess of $5,000 per block. The block excess also attracts a higher premium rate. For Increased Costs and Future Loss of Profit, a 10% excess applies to the total sum insured you have chosen for each of these covers. Further restrictions may apply depending on your orchard’s location and loss history.
There is a waiting period before cover commences. This period is 48 hours after 4:00pm on the day we receive your signed acceptance. If you insured with us last season, there will be no waiting period as long as we receive your signed acceptance of our terms by the expiry date of your current Agricola policy.
Agricola continues to receive much praise from growers for our efficient claims handling. Following a loss, you must complete a Loss Notification Form and submit it to Agricola within 48 hours of the loss. An assessor will contact you, usually within 48 hours, to arrange an inspection of your orchard. Agricola's loss assessors are professional and experienced in all aspects of orchard agronomy.
The insurer of this policy is Allianz Australia Insurance Limited.