Orchard
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 two cover options - Loss of Yield of Produce and Increased Costs. For non-bearing trees, we offer one cover option - Increased Costs.
You may select the cover options and amount of cover to meet your specific financial needs.
Insured Perils
We cover hail and fire - you may select one or both of these.
Loss of Yield of Produce
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 in Tray Carton Equivalent (TCE) and nominate a value per TCE. Following a loss, the percentage loss of yield is applied to the lesser of the estimated yield or the potential yield.
Increased Costs
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.
Flexible Excess
You may choose the level of excess you prefer for Loss of Yield of Produce. For Increased Costs 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.
Commencement of Cover
There is a waiting period before cover commences. This period is 72 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 72 hours of the loss. An assessor will contact you, usually within 72 hours, to arrange an inspection of your orchard. Agricola's loss assessors are professional and experienced in all aspects of orchard agronomy.
The Insurer
The insurer of this policy is Allianz New Zealand Limited.