South Africa’s most downloaded farmer’s podcast, Farmer’s Inside Track, now comes out three times a week in a brand-new, shorter format. In this episode, farmers can get invaluable tips about agri-insurance.
Theo Potgieter, director of insurance at Unigro, lists the reasons farmers should consider insurance. He unpacks why agri-insurance should not feature last on a farmer’s to-do list, as this safeguards farmers’ assets.
“Agri-insurance is like your home insurance… It protects you and your family from financial difficulty,” he explains.
Potgieter goes into more detail and adds that farmers should consider insurance from the moment they own assets and, in the case of crop farmers, when planting has commenced.
“The banks will insist that assets under a finance agreement are covered in terms of the insurance policy,” he says. This also applies for production loans for the planting of crops.
“Commercial banks will give a loan and the farmer needs to provide security for that loan.”
Pieter lists four main reasons why agricultural insurance is essential, the different types of insurance, all the requirements that farmers need to adhere to, as well as exclusions that might influence your policy.
Want to know more? Listen to the full episode of Farmer’s Inside Track.
Option 1: Click here to listen on Spotify (all mobile and other devices).
Option 2: Click here listen on any Apple device.
Option 3: Click here to listen on Google Podcast
ALSO READ: All you need to know about agri-insurance
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