Steps in Crop Insurance
Crop Insurance
It is an way by which a general insurance company (acting crop insurance company) in a association with state or the central government undertakes to provide a guarantee of compensation for specified crop loss, damage or permanently crop failure in return for payment of a specified premium.
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Why crop insurance?
Crops are subject to crop failure risks. Heavy rain, cyclone, hailstorm, frost, temp., crop diseases, insect-pests etc., and other unlimited weather factors are the reason of crop failure.
Crop failure causes a significant financial loss to farmers. There are two types of financial loss: 1. Investment loss. 2. Standing crop-lost. To avoid any type of loss farmers have to do crop insurance.
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Basic information
- Pradhan Mantri Fasal Bima Yojana.
- Restructured Weather Based Crop Insurance Scheme (RWBCIS).
Pradhan Mantri Fasal Bima Yojana
PMFBY is a crop insurance scheme launched in April 2016 by the central government for the farmers of all states/territories in India.
Crops covered
- Cereal, millets, pulses.
- Oilseeds.
- Annual commercial/horticultural crops.
More information about PMBFY.
Restructured Weather Based Crop Insurance Scheme (RWBCIS)
It was launched on 18th February 2016.
More information about RWBCIS.
Crop Insurance Season
There are two major season eligible for crop insurance:
- Kharif.
- Rabi.
Also read: Low risk agribusiness
Steps in Crop Insurance
This section has been updated (please scroll down the page).
Methods
- Online Portal.
- Crop Insurance Company.
- Government Departments.
Online Portal
Any one can do crop insurance from home through online portal.
For this, follow given steps:
A. New User Registration.
B. New Farmer Registration.
New User Registration
1. Go to Pradhan Mantri Fasal Bima Yojana (PMFBY).
2. New Farmer Registration
Crop Insurance Company
List of crop insurance company
AIC.
Bajaj Alliannz.
Bharti AXA CIC.
CHOLA MS.
Future Generalli.
HDFC ERGO.
ICICI LOMBARD.
IFFCO TOKIO.
National Insurance.
New India Assurance.
Oriental Insurance.
Reliance GIC.
Royal Sundaram GIC.
SBI GIC.
Sriram GIC.
TATA AIG.
United India.
Universal SOMPO.
Steps in Crop Insurance
Fill Official Information: Step 01 – 08
Step 01
Copy the following web address:
Step 02
- Open any safe browser such as Firefox.
- Paste it into search box.
Step 03
- Tap on search icon.
- You will land of home page of Pradhan Mantri Fasal Bima Yojana.
Step 04
Tap on register.
Step 05
- Select stakeholder of your choice.
- Here stakeholder is insurance company.
Step 06
- Select insurance of your choice.
- In this example, insurance is BAJAJ ALLIANZ.
Step 07
- Select Category
- In this example it is insurance district user.
Step 08
Select your State and District.
Fill Personal Information
Step 09
Fill all the vacant fields with your professional information which is applicable.
Step 10
Tap on create to complete the registration process.