Weather Insurance
Weather Insurance

Weather Insurance

  • Introduction
  • What’s covered?
  • What’s Not covered?
  • Why Choose HDFC ERGO?

Weather Insurance

 

Agriculture provides livelihood to majority of Indian population. So it is significantly the most dominant sector in India. Being demographically the broadest sector in India, it’s also highly dependent on weather conditions to keep serving as socio-economic fabric to Indian economy, with major area under cultivation being rain-fed and the changing weather trend, Agricultural output is also highly risk prone and any adverse effect on Agriculture will have a direct impact on economy.

HDFC ERGO offers a comprehensive Weather Insurance Policy to deal with such adversely changing climatic trends. This a index based product that covers the losses to the crop occurring due to varying weather conditions such as temperature, wind speed, rainfall, humidity etc.

 

What’s covered?

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Death of cattle

Cost of input - Covers the diminished agricultural output/yield resulting due to deviation from optimum weather requirement of a crop within a specific geo graphical location and specified time period.

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Death of cattle

Increased operational costs of agricultural or non-agricultural economic activity resulting from deviation of Observed Weather index from Strike index.

What’s not covered?

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Ionizing radiations or contaminations by radioactivity from any nuclear waste from the combustion of nuclear fuel

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The radioactive, toxic, explosive or other hazardous properties of any explosive nuclear assembly or nuclear components

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Acts of Terrorism Loss or damage, cost or expenses of whatsoever nature directly or indirectly caused by, resulting from or in connection with any action taken in controlling, preventing, suppressing or in any way relating to such action taken in respect of any act of terrorism shall be excluded

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War-like operations, act of foreign enemy, invasion of Indian territory or any part thereof, hostilities, civil war, rebellion, revolution, insurrection, civil commotion, military or usurped power, or loot or Read More...

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Any manmade activities such as but not limited to riot, strike, malicious acts, pollution contamination, outside of and other than natural weather conditions which results in a material deviation in the Observed Weather Index.

Who can take this policy?

 
  • Farmers
  • Banks
  • Financial institutions / companies extending credit facility for agricultural/ non agricultural seasonal operations, whose repayments are affected by weather conditions

Premium

Premium chargeable depends on various factors such as the type of crop, location, historical weather data, cost of cultivation in the specified area and the acreage under cultivation.

Documents required for purchasing an Insurance Policy

 
  • Land record document (for the standing crop against which insurance is taken)
  • Photo ID proof

Claim Process

Claims shall be assessed and paid on the basis of the documents submitted to the Company. In the event that, in the specific geographical location and during the time period specified in the Schedule to this policy, the Actual Total Index for the covered parameter deviates from the predefined Index as per the product.

The weather data will be procured by the company from authorized weather data agency after completion of policy period for claim settlement. The compensation is payable only as per the compensation payment formula mentioned in the policy schedule and the compensation amounts shall be calculated by the company and accordingly paid to the Insured / beneficiary as per the policy terms and conditions.

In case of claim under this policy, please contact HDFC ERGO General Insurance Company Limited on Toll free no: 1800-2-700-700 (Accessible from India only).

Or write a letter to Claim Manager 6th floor, Leela Business Park, Andheri Kurla Road, Andheri (East), Mumbai, Pin- 400059.

This content is descriptive only. Actual coverage is subject to the language of the policies as issued.

Why HDFC ERGO?

Secured Over 1 Crore+ Smiles!

Trust redefines relations at HDFC ERGO. We consistently strive to make insurance easier, more affordable and more dependable. Here promises are kept, claims are fulfilled and lives are nurtured with utmost commitment.
Why HDFC ERGO?

All the support you need 24x7

We understand that in times of distress, instant help is the need of the hour. Our In-house claims team provides round the clock support to ensure hassle-free claim experience. We ensure to be your constant support system in times of need.
Why HDFC ERGO?

Catering customer needs

Since, last 16 years, we have been catering to endless customer requirements endlessly. By providing wide range of plans and add on covers for every portfolio.
Why HDFC ERGO?

Transparency at its best

HDFC ERGO General Insurance claims are settled with utmost transparency and ease.
Why HDFC ERGO?

Awards

We have received ICAI Award of the Year for excellence in financial reporting FY:18-19
Why HDFC ERGO?

Secured Over 1 Crore+ Smiles

Trust redefines relations at HDFC ERGO. We consistently strive to make insurance easier, more affordable and more dependable. Here promises are kept, claims are fulfilled and lives are nurtured with utmost commitment.

All the support you need-24x7

We understand that in times of distress, instant help is the need of the hour. Our In-house claims team provides round the clock support to ensure hassle-free claim experience. We ensure to be your constant support system in times of need.

Catering customer needs

Since, last 16 years, we have been catering to endless customer requirements endlessly. By providing wide range of plans and add on covers for every portfolio.

Transparency at its best

HDFC ERGO General Insurance claims are settled with utmost transparency and ease.

Awards

We have received ICAI Award of the Year for excellence in financial reporting FY:18-19
Awards & Recognition
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