Insurance
Growing Trees
Crops Insurance
What does it cover?
This policy covers Palm Oil / Rubber/ Cocoa trees against fire, lightning and perils insured.
Key Coverage
This policy be covers Palm Oil / Rubber/ Cocoa trees destroyed or damaged by fire or lightning whether accompanied by fire or not or any of the perils specified
1. Flood or inundation
2. Windstorm
3. Damage By Wild Animals
4. Riot, Strike, Malicious Damage
5. Aircraft Damage
6. Subsidence or Landslide
7. Subterranean Fire / Peat Fire
Basic of Sum Insured
SUM INSURED
The basis of determination of sum insured for this insurance shall be as set out in the Schedule. For this purpose mature trees shall be trees which are more than 3 years since planting (5 years in case of Rubber trees) and not more than 25 years since planting (30 years in case of Cocoa and Rubber trees). Trees which are younger shall be regarded as immature. Trees which are older shall not be insured under this Policy.
INSURED TREES
The insurance under this policy shall apply only to the trees as specified in the Schedule grown on the estates of the Insured and all other trees are excluded from this insurance and shall not be taken into consideration in the adjustment of any loss payable under this insurance.
What We Don't Cover
Note:
This list is non-exhaustive. Please refer to the sample policy contract for the full list of exclusions under this policy.
- Trees damaged by white ants or insects pets or pesticides
- Tree damaged caused by fire damage within estate
- Loss or damage in consequences of burning of property by public authority subterranean fire, seepage and pollution by toxic chemicals
- Loss or damage directly or indirectly caused by or arising from or in consequence of or contributed to by nuclear weapons material
- Loss or damage directly or indirectly caused by or arising from or in consequence of or contributed to by ionizing radiations or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel.