Agricultural practices require immense effort and energy. Crop selection, planting, daily care and the overall routine end up resembling child-raising, as the farmer, too, cares for its seedlings. However, in spite of your diligent efforts, there is always risk of natural disasters affecting your harvest. This is precisely why there is agroinsurance, the sole purpose of which is to protect you from unexpected costs associated with sudden damage of your harvest.
Hail is an immense issue for farmers in eastern Georgia, where agricultural crops tend to be damaged as a result of hail that lasts up to 2-3 days is statistically common in relatively warmer months of March, May, June and October.
Seasonal floods are no less common in Shida Kartli and Kakheti regions, jeopardizing fertility levels of arable lands due to inability of agricultural practitioners to protect the soil fully. As a result, the risk of harvest destruction is significant.
Hails are frequently preceded by hurricanes. Farmers may avoid hail, but the inevitable hurricane may end up damaging fruiting trees and grains just as much. Hurricanes are known to bevel vines and cause the grapes to blacken and rot.
If you happen to be cultivating citrus fruits, you must be familiar with disadvantages of fall frost and know exactly how much it may damage your harvest.
This is precisely why agroinsurance aims to protect you from the above-mentioned risks and ensure that your material well-being is not jeopardized when one or more natural disasters damage your harvest.
50% of the insurance fee for viticulture is subsidized by the government, while co-financing for all other crops amounts to 70%. You may choose to pay for insurance in installments, in the form of a loan.
Virtually anybody currently practicing land-related work and cultivating crops is eligible for agroinsurance. The only mandatory requirement is for the land not to exceed 5 ha or 30 ha in case of grains. If you fail to meet any of the criteria set forth by the State Program, you are welcome to purchase insurance without co-financing as well, in which case you will be expected to cover 100% of the insurance fee independently.
You may purchase agroinsurance at any branch of TBC Bank located in Shida Kartli or Kakheti.