Moovah Harvest, Livestock Insurance Cover Farmers Against Risks, Disasters
With the arrival of the 2021/22 agricultural season, many farmers have already started preparing land and securing inputs.
Zimbabwe expects another bumper crop in the coming season amid indications that the southern African region will receive normal to above normal rainfall.
However, agriculture, like most sectors of the economy, is not predictable and anything could affect the very optimistic forecasts.
With this in mind, short-term insurance company Moovah is making insurance even more accessible, affordable and attractive for all farmers in the country to protect themselves from natural and man-made disasters by insuring.
The insurance unit, a subsidiary of EcoCash Holdings (formerly Cassava Smartech Zimbabwe), has invested in effective risk management to protect farmers and position them for sustainable agriculture.
“Agriculture and its allied industries are important sectors of the Zimbabwean economy accounting for nearly 17 percent of gross domestic product (GDP) and almost 60 percent of employment. Therefore, it is in the public interest to have a financially stable agricultural sector that ensures food security by securing the nation’s food supply.
“This requires the presence of a safety net supported by the public and private sectors for farmers, who increasingly face varying weather conditions that challenge the food production system,” Moovah said.
Insurance levels in the agricultural sector are very low, with agriculture contributing barely five percent of gross premium income from insurance products. This exposes farmers to poverty in the event of a disaster.
But Moovah is stepping in to change the rhetoric in the industry with its innovative insurance products.
“Our crop and livestock insurance covers ranchers and farmers against losses resulting from unfortunate events such as fire, theft, illness and accidental death,” the company said.
He said farmers who take out insurance policies are protecting their crops, livestock, farming and harvesting practices from setbacks and are also positioning themselves on a growth trajectory.
“The first major advantage of this form of insurance is that it helps fight poverty. Natural disasters are unpredictable. When they do occur, farmers who have invested heavily in agriculture see their investment destroyed.
This, in turn, makes them poor. However, if farmers buy insurance from us, we will compensate them. With the money paid, the farmers are in place to reinvest in farming and other farming activities, allowing them to live comfortably again, ”Moovah said.
Disasters covered by Moovah Crop Insurance include destruction of crops by windstorms, uncontrollable pests, stray animals, fires and frosts, among others. With Moovah Crop Insurance, farmers also benefit from reduced rates on insurance for other agricultural assets.
Moovah’s call for insurance coverage comes after a leading cotton company recently lost 1.2 million kilograms of cotton lint, worth an estimated US $ 2.5 million, to veld fires. A farmer in Mashonaland Central also lost four hectares of wheat in a fire. The incidents put farmers at a disadvantage as most of them depend on loans as their main source of income to purchase agricultural inputs.
In addition to crop insurance coverage, Moovah also offers livestock insurance that covers ranchers against losses resulting from unfortunate events such as fire, theft, illness and accidental death.
“Moovah Livestock Insurance also allows you to benefit from reduced rates on other Moovah farm assets such as tractors, buildings and milking parlors,” the company added.
To sign up for Moovah Crop and Livestock Insurance coverage, send an email: [email protected] or call 311. You can also simply contact your broker for a quote.
In addition to crop and insurance coverage, Moovah continues to offer convenient and hassle-free insurance coverage that includes coverage for the elderly, vehicle, property and household contents, among others.