Viticulture
The Agricola Policy is designed to cover the main concerns of growers following a hail, frost or fire loss - loss of grape production, increased vineyard management costs, and loss of future earnings. For bearing grapevines, we offer three cover options - Loss of Yield of Grapes, Increased Costs and Future Loss of Profit. For non-bearing grapevines, 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.
Insured Perils
We cover hail, frost and fire - you may select any combination of these. Limited transit cover is also automatically provided.
Loss of Yield of Grapes
You have two options for insuring your grapes - 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 grapes 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.
Increased Costs
You can insure for the increased vineyard management costs that you incur following an insured loss, or for the need to mitigate an insured loss, such as purchasing and replanting new grapevines, removal of debris, clean up, pruning, additional application of fungicides, fertilizer or insecticides, and associated labour costs. Post harvest costs are not covered.
Future Loss of Profit
A severe loss to your grapevines may necessitate replanting and may affect future productivity of your vines. 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 vines in all or part of your vineyard are destroyed, or if you suffer a 100% loss of yield. Claims are paid in the current policy period.
Transit Cover
Losses to grapes in transit from the vineyard to the winery 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 vines. Valid claims over $500 are paid in full, up to the Ancillary Property sum insured.
Flexible Excess
You may choose the level of excess you prefer for Loss of Yield of Grapes on either a per block or whole vineyard 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 vineyard’s location and loss history.
Commencement of Cover
There is a waiting period before cover commences. In the case of frost, the period is 168 hours after 4:00pm on the day we receive your signed acceptance of our terms. In the case of all other insured events, the 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.
Efficient Claims Settlement
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 vineyard. Agricola's loss assessors are professional and experienced in all aspects of viticulture.
The Insurer
The insurer of this policy is Allianz Australia Insurance Limited.