Agricultural sector in Nigeria has become a centre of attraction and investment with its consistent growth on a yearly footing. The policy is carefully designed to provide a relief to our customers in the event of eventuality. This is not only to ensure their continuity in the business but also protect their expected lucrative gains.

At Universal Insurance, currently, under our agricultural insurance policy we have three policies and they are:

This universal poultry insurance product covers birds (broilers, layers, parent stock, grandparents stock, hatchery stock, cockerel, ornamental birds) against death which may be caused by fire, lightning, windstorm damage, flood, uncontrollable disease and accident.

• The premium rate is dependent on the standard of risk management, biosecurity, size of the farm, and the type of birds to be insured.
• The sum insured is based on the declared market value of the broiler at table size, and layers at point of lay.
• The policy secures the capital he has invested and pay the assessed value of his bird in the event of death.

This Universal Livestock Insurance policy provides compensation against death caused by fire, lightning, windstorm, flood, accident, outbreak of uncontrollable disease on livestock (e.g. cattle, sheep, goats, rabbits, and pigs).

• The coverage provided by this policy indemnifies based on the value of insured animals in the event of death.
• The sum insured is dependent on the declared, and/or projected, market value of the animal.
• The Policy pays the farmer the assessed value of the lost/dead animal or the cost of treatment or taking care of the animal if the injury is treatable.

This Universal Fish Farm insurance policy provides cover for your fish against death and fish pond against collapse as a result of fire, lightning, windstorm damage, flood, uncontrollable disease and accident.

• The sum insured is based on the declared, and/or projected market value of the fish. Premium rate is dependent on the standard of risk management, biosecurity, size of the farm, and the type of fish to be insured.
• The cover provided by the policy will pay you the assessed value of the fish lost and/or the amount required to restore the fish pond back to its previous position.

Requirements include:

• Complete Universal Insurance Plc proposal form.
• Physical inspection/pre-loss survey of your farm.

– What it covers:

• Loss or damage to insured crops from weather and natural perils: drought, excessive rainfall/flood, windstorm, hail, lightning.
• Fire and bushfire.
• Crop loss due to pests and diseases when recommended agronomic practices (including approved seeds, spacing, and timely agro-chemical application) are followed.
• Damage from accidental impact (e.g., stray animals or vehicles) and specified farm perils if listed in the schedule.

– How it works:

• Sum insured is typically based on expected yield per hectare multiplied by price, or on input costs (seed, fertilizer, chemicals, labour), depending on the plan selected.
• Cover can be arranged for specific crops (e.g., maize, rice, cassava, sorghum, soybeans, vegetables, tree crops) and specific growth stages (from planting to harvest).
• Loss assessment is done through field inspection and yield/area assessment after an insured event.

– Key exclusions (typical):

• Improper/absent farm management, preventable losses, or neglect.
• Pre-existing pest/disease infestations at policy start.
• War, riot/strike/civil commotion, confiscation.
• Market price fluctuation and purely quality/grade downgrades unless specifically covered.
• Intentional acts and consequential or indirect losses not stated in the policy.

If you share the crop type, farm size (hectares), location, planting month, and preferred basis of insurance (yield-based or input-based), I can tailor coverage details and an indicative structure for you. I’m happy to help you protect your farming season!