Agriculture remains a vital pillar of livelihoods and economic activity, supporting millions of farmers through crop production, livestock keeping, and other related enterprises.
Yet, farming is also one of the most risk-prone economic activities, with farmers often operating under conditions beyond their control.
From unpredictable weather patterns and prolonged droughts to excessive rainfall, disease outbreaks, fire, theft and accidental losses, farmers face a range of threats that can wipe out months or years of investment.
Livestock farmers, for instance, can suffer significant financial losses when animals die from disease, accidents or natural calamities, while crop farmers may lose entire harvests following adverse weather or pest and disease attacks.
This is why every farmer needs an insurance policy from a reliable insurer to protect their agricultural investments and strengthen their ability to recover from unexpected losses.
Equity Bank is one of the reliable insurers farmers can partner with to cushion their enterprises against specified perils and improve their resilience when disaster strikes.
The Bank offers a range of agricultural insurance products designed to address some of the risks facing farmers across different areas of the sector.
Livestock Insurance
For farmers who depend on livestock for income, animals represent a significant investment. Losing even a few high-value animals can substantially impact a farming enterprise.
Equity Bank’s Livestock Insurance cover provides protection against the loss of specified livestock resulting from unavoidable or uncontrollable circumstances.
The policy is available for a range of animals, including dairy and beef cattle, poultry, pigs, goats, sheep and horses, as well as other livestock with economic value.
The value of the livestock insured is determined through a veterinary valuation report, providing a basis for establishing the cover.
Among the risks covered under the policy are accidental death, including death caused by lightning, as well as internal and external injuries. The cover also provides protection against losses associated with fire and windstorms.
Farmers can further obtain protection against certain dangerous attacks, including snake bites and flooding, while diseases of a terminal nature are also covered under the specified terms. The policy additionally provides for emergency slaughter where applicable.
Theft is another risk addressed by the livestock cover. This includes theft involving the use of force while animals are in a paddock or under zero-grazing systems.
The policy also covers epidemics occurring before an official government declaration, as well as complications arising during calving and farrowing.
Livestock may also be covered against transit-related risks within a radius of 250 kilometres, providing an additional layer of protection when animals are being transported.
Crop Insurance
Crop production is particularly vulnerable to weather-related risks, making insurance an important consideration for farmers seeking to protect their investments.
Equity Bank provides Index-Based Weather Insurance (IBWI), which protects listed crops against specified weather-related risks, particularly excessive rainfall and drought.
The product is designed to provide a financial cushion when adverse weather conditions affect agricultural production.
Farmers seeking broader protection can also consider Multi-Peril Crop Insurance, which covers crops against several risks. These include drought, excessive rainfall, hailstones, fire and disease.
Greenhouse Insurance
As greenhouse farming becomes increasingly important for farmers seeking greater control over growing conditions and improved productivity, protecting the physical infrastructure supporting this form of agriculture is equally important.
Equity Bank’s Greenhouse Insurance provides cover against loss, destruction or damage to the insured property resulting from specified perils.
These include fire, lightning and explosion; earthquake; storms and tempest; flooding; and the bursting or overflowing of water tanks, apparatus or pipes.
The policy also covers damage caused by aircraft or other aerial devices and objects dropped from them, accidental impact damage, subterranean fire, and losses arising from riot and strike, subject to the policy terms and conditions.
The greenhouse policy incorporates several areas of protection.
Fire and related perils: The cover includes fire and specified perils, including wind damage as well as riot and strike. For wind damage, an excess of 10 per cent applies to each loss, with a minimum excess of Sh10,000 per loss.
Burglary: Farmers can obtain protection against theft from the greenhouse after it has been erected at the farm. The cover also includes malicious damage, riot and strike, subject to the applicable policy conditions.
Goods in transit: The policy can also protect the greenhouse while it is being transported from the seller’s premises to the farmer’s property following purchase.
To get started with any of the insurance products, farmers can visit the nearest Equity Bank Branch countrywide or download the application form available on the Equity Bank website.
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