Insured under this insurance are owners and lessees of agricultural machinery and equipment.
Subject of the insurance are:
- stationary agricultural machinery and equipment, incl. electronic equipment;
- agricultural machines and equipment at their own pace. By special arrangement and based on an additional clause that is an integral part of the policy, the following can be insured:
- agricultural produce – ready or in the process of processing;
- additional costs – permanent and as a result of business interruption.
The insurance will be concluded on the basis of a written application-questionnaire by the insured and an inventory of the machinery and equipment offered for insurance.
Cover under this insurance is provided in addition to the cover under the General Conditions for CASCO or insurance of property against fire and natural disasters and applies to agricultural machinery and equipment used in accordance with their normal purpose for any sudden and unforeseen total loss or partial damage for any reason, except as specifically described in the General and Special Exclusions.
The insurance covers total loss or partial damage to the property specified in the inventory –
- stationary agricultural machinery and equipment, including electronic equipment and
- self-propelled agricultural machinery and equipment
The insurance sums are determined based on the replacement value of the insured construction machinery and equipment, i.e. it must correspond to the costs of replacing the insured machine / equipment with a new one of the same type, power and purpose. Restocking costs include shipping, disassembly and assembly costs, as well as any applicable taxes and duties.
The insurance premium is determined by the insurer depending on the risk circumstances and the clauses on the basis of which it provides insurance coverage and is paid in full or according to the installment plan agreed in the policy.
In the event of damage, the insured promptly notifies the insurer, who inspects and assesses the damage. The compensation is paid in the form of monetary compensation, repair or replacement up to the amount of the insured amount specified in the inventory after presenting all the documents necessary to prove the event and the amount of the damage.