Insurance Products

Insurance Products for Farmers - Bank of Karditsa
Insurance Products for Farmers - Bank of Karditsa

Why should the agricultural sector be insured?

The agricultural sector, the main pillar of the Greek economy with a size of about 9 billion euros (3.4% of GDP), largely supplies food processing businesses that represent about 30% of the country’s industry.

There is a lot of room for improvement, as only the Hellenic Organization of Agricultural Insurances (HOAI) and a few other private insurance companies are systematically involved in this sector.

It will support the development of insurance business in the province with products that are of direct interest to the region.
Positive response from the rural world to the role of private insurance.

Repayment of credit cards and loans.

Key risks for farmers

Biological hazards
  • Insects, weeds
  • Wild animals
  • Plant diseases, infections
Financial risks
  • High production costs
  • Low or volatile prices (large fluctuations)
  • Unable to access markets (abroad)
  • Low demand, low production volume
Fires
  • 420,645 acres of crops and agricultural land burned in a five-year period 2010-14
  • Hundreds of farm buildings have been damaged by fires over the same period.

Insurance of rural buildings

Homes, buildings, warehouses, sheds, contents and goods are insured.

  • Agricultural & livestock buildings
  • Silos / barns
  • Greenhouses
  • Warehouses
  • Freeze chambers
  • Stables
  • Pigsty
  • Poultry farms
  • Packaging plants
  • Presses
  • Oil press
  • Mills.

Insurance criteria

Protection Measures (fire - theft) as provided by law.

  • Up to 4 buildings are insured with one application
  • In order for the contents of the buildings to be insured, a necessary condition is to insure the facilities as well
  • There is no coverage package. You may choose the coverages you want.

Other insurances

  • Greenhouse Insurance
  • Crop Production Insurance
  • Agricultural Vehicle Insurance
  • Machinery Insurance
  • Transport Insurance
  • General Liability Insurance for the operation of premises
  • Farmer Care Program Guide
  • Agricultural Capital Insurance.