Insurance experts are calling on farmers to invest in crop insurance due to the various risks associated with agriculture. These risks include drought, floods, hail, frost, and wildfires.
The latest Insurance Barometer report highlights the significance of the agriculture sector, which contributes approximately R400 billion to South Africa’s Gross Domestic Product (GDP) and supports around 870,000 jobs.
Elias Sekoboane, Santam Area Manager for Crop Insurance, emphasized the importance of insurance coverage, stating, “Crop Insurance provides protection against specific perils such as hail and frost. We also offer coverage for goods in transit, fire, and locust damage.”
Sekoboane noted that while coverage is available for certain crops like grains, fruits, and citrus, some crops are not covered. The insurance rate depends on the location and the commodity price of the crops to be insured.
