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Limasure Farmers Policy

Limasure Farmers Policy is an easy and simple insurance cover that takes care of the needs small scale and emergent farmers. Limasure is a weather Index insurance cover which uses satellite data to monitor weather patterns of a specific location and provides automatic pay outs if there is deviation from the average rainfall. You as a farmer can insure either the cost of inputs or the expected yield with an extension for fire.

The Limasure Farmers policy works on the basis of weather satellite data collected every 10 dayson a 20 Km radius around the farming area chosen and any variations in weather data from agreed threshold means that a pay-out is due to the farmer. It’s that simple!! Therefore in cases ofunfavourable weather events such as drought, dry spells and excess rainfallthe farmer receives aspeedy pay-outwithout any visitation or assessment by the insurance company thereby eliminating any worry, stress or interruption caused by unfavourable weather events.

POLICY SPECIFICS

Insuring the Cost of Input

Covers the cost of inputs that go into production of the crop.

Basis of coverage: Weather events (e.g. drought, dry spells, and excess rainfall) measured as per satellite estimation of rainfall, on a daily basis.

Premium rate is applied on the cost of inputs per hectare

Premium payment: Premium to be payable before the insurance period commences, in order for the insurance cover to be valid.

Claims process: To be automatic, based on weather events as per satellite data. For extreme events, the claim pay-out does not need manual verification.

Yield Cover

Offers farmers insurance for the expected yield

Basis of coverage: Weather events (e.g. drought, dry spells, excess rainfall) measured as per sat-ellite estimation of rainfall, on a daily basis, including fire risks.

Premium rate is applied on 100% of the yield value per hectare

Premium payment: Premium to be payable before the insurance period commences, in order for the insurance cover to be valid.

Premium payment: to be automatic, based on weather events as per satellite data. For extreme events, the claim payout does not need manual verification. For information on more frequent events contact Mayfair Insurance Company Zambia Limited.


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