With the arrival of the 2021/22 farming season, many farmers have already started land preparation and securing inputs.
Zimbabwe is expecting another bumper harvest in the coming season amid indications that the southern African region will receive normal to above normal rainfall.
However, farming, like most sectors of the economy, is not predictable and anything can affect the highly optimistic forecasts.
With that in mind, short-term insurance firm Moovah is making insurance even more accessible, affordable and appealing to all farmers in the country to cushion themselves from natural and man-made disasters by getting insured. The insurance unit, a subsidiary of EcoCash Holdings (formerly Cassava Smartech Zimbabwe), has invested in effective risk management in order to protect farmers and position them for sustainable agriculture.
“Agriculture and its related industries are important sectors of the Zimbabwean economy accounting for nearly 17% of gross domestic product and nearly 60% of employment. Therefore, it is in the public interest to have a financially-stable agricultural sector that ensures food security for the nation.
“That necessitates the presence of a public and private sector-supported safety net for farmers, who increasingly face variable weather patterns that challenge the food production system,” Moovah said.
The levels of insurance in the farming sector is low, with agriculture contributing barely 5% to gross premium income of insurance products. This exposes farmers to poverty should disaster strike.
But Moovah is stepping in to change the narrative in the sector, with its innovative insurance products.
“Our crop and livestock insurance covers animal husbandry and agricultural farmers against loss resulting from unfortunate occurrences such as fire, theft, diseases and accidental death,” the company said.
It said farmers, who insured their crops, livestock, farming and harvesting practices against setbacks positioned themselves on a growth trajectory.
“The first major benefit of taking this form of insurance is that it aids in fighting poverty. Natural disasters are unpredictable. When they happen, farmers who have invested heavily in agriculture get their investment destroyed. This, in turn, makes them poor. Nonetheless, if farmers buy insurance from us we will compensate them. With the money paid out, farmers are in a place to reinvest in farming and other agricultural activities, allowing them live comfortably again,” Moovah said.
The disasters covered by Moovah Crop Insurance include crop destruction by windstorms, uncontrollable pests, stray animals, fire and frosts among others. With Moovah Crop Insurance, farmers also enjoy discounted rates on insuring other farm assets.
Moovah’s call for insurance cover comes after a prominent cotton company recently lost 1,2 million kilogrammes of cotton lint, worth an estimated US$2,5 million, to fire. A farmer in Mashonaland Central lost four hectares of wheat to fire. The incidents put farmers at a disadvantage since most of them rely on loans as their main source of funding to buy farm inputs.
Beside crop insurance cover, Moovah also offers livestock insurance which covers farmers against loss resulting from unfortunate occurrences such as fire, theft, diseases and accidental death.
“Moovah Livestock Insurance also allows you to enjoy discounted rates on other Moovah farm assets such as tractors, buildings and milking parlours,” the company added.
In addition to crop and insurance cover, Moovah continues to offer hassle free and convenient insurance cover which includes cover for senior citizens, vehicle, property and household contents — among others.
Source - https://www.newsday.co.zw
