INSURANCE PROCEDURE OF SHEEPS & GOATS IN INDIA
Insuring sheep and goats is a prudent measure for livestock owners in India to safeguard against financial losses due to unforeseen events leading to the death of these animals. The insurance procedure encompasses several key steps:
- Eligibility and Coverage:
- Eligible Animals: All indigenous, crossbred, and exotic breeds of sheep and goats are eligible for insurance. Typically, animals aged between 4 months and 7 years can be insured.
- Coverage Scope: Policies generally provide indemnity against death resulting from:
- Accidents, including fire, lightning, flood, cyclone, earthquake, and landslide. Diseases contracted or occurring during the policy period
- Natural calamities and unforeseen events like famine, strike, or riot.
- Exclusions:
Common exclusions in sheep and goat insurance policies include:
- Malicious or willful injury, neglect, overloading, or unskillful treatment.
- Accidents or diseases occurring prior to the commencement of the policy.
- Death due to specific diseases such as pleuropneumonia, enterotoxaemia, sheep pox, goat pox, rinderpest, foot and mouth disease, anthrax, hemorrhagic septicemia, and black quarter, unless the animal has been successfully inoculated.
3. Premium Rates and Sum Insured:
- Sum Insured: The sum insured is typically based on the market value of the animal at the time of insurance.
- Premium Rates: Premium rates vary but are often calculated as a percentage of the sum insured. For instance, minimum premiums can start from as low as Rs. 30 per policy.
4. Identification and Documentation:
- Identification: Each insured animal must be uniquely identified using methods such as ear tagging or tattooing. The identification details are recorded in the policy document.
- Documentation Required:
- Duly filled proposal form.
- Medical certificate from a registered veterinary doctor confirming the animal’s health.
- Photographs of the animal showing the identification mark.
- Receipt or proof of purchase of the animal.
- Claim Procedure:
In the unfortunate event of the death of an insured animal:
- Immediate Notification: Inform the insurance company promptly about the incident, providing details such as policy number, ear tag number, date, place, time, and cause of death.
- Documentation Submission:
- Completed claim form.
- Death certificate and post-mortem report issued by a qualified veterinary surgeon.
- Claim Assessment: The insurance company may appoint an investigator to assess the claim’s validity.
- Settlement: Upon approval, the claim is settled as per the terms outlined in the policy.
- Important Considerations:
- Policy Period: Policies are typically issued for one year but can vary based on the insurer’s terms.
- Renewal: Timely renewal is essential to maintain continuous coverage.
- Compliance: Adherence to all policy terms and conditions is crucial to ensure claim eligibility.
By meticulously following these procedures and maintaining accurate records, sheep and goat owners in India can effectively manage risks associated with their livestock, ensuring financial protection against potential losses.
INSURANCE PROCEDURE OF SHEEPS & GOATS -NEW INDIA INSURANCE COMPANY
All indigenous, crossbred and exotic Sheep and Goat will be covered under this Scheme.
Scope
The policy shall provide indemnity against death of sheep and goats due to accident Including Fire, Lightning, Flood, Cyclone, Famine, Earthquake, landslide, Strike, Riot or diseases contracted or occurring during the period of insurance.
Exclusion:
Common Exclusion
- Malicious or willful injury or neglect, overloading, unskillful treatment or use of animal for purpose other than stated in the policy without the consent of the Company in writing.
- Accidents occurring and /or Disease contracted prior to commencement of risk.
- Intentional slaughter of the animal except in cases where destruction is necessary to terminate incurable suffering on humane consideration on the basis of certificate issued by qualified Veterinarian or in cases where destruction is resorted to by the order of lawfully constituted authority.
- Theft and clandestine sale of the insured animal.
- War, invasion, act of foreign enemy, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection, mutiny, tumult, military or usurped power or any consequences thereof or attempt threat.
- Any accident, loss, destruction, damage or legal liability directly or indirectly caused by or contributed to by or arising from nuclear weapons.
- Consequential loss of whatsoever nature.
- Transport by air and sea.
- Any non-scheme claim arising due to diseases contracted within 15 days from the date of risk are not covered.
Specific Exclusion
Enterotoxaemia, Sheep Pox, Goat Pox, Rinderpest, FMD, Anthrax, H.S, B.Q. These diseases are covered by the policy if the animal is successfully inoculated (protected) and necessary Veterinary Certificates are supplied to the Company.
Sum Insured
- The market value of sheep and goats varies from breed to breed, from area to area and from time to time. The examining Veterinarians recommendations shall be considered as the proper guide for acceptance of insurance as well as for settlement of claims.
- Sum insured will not exceed 100% of market value.
Claim Procedure
- In the event of death immediate intimation should be given to the Company and the Insured should furnish the following documents and required information.
- Duly completed claim form.
- Death certificate from a Veterinarian on Company’s form.
- Post mortem examination report if required by the Company.
- Ear tag wherever applicable.
Note: Policy details given are indicative, not exhaustive. Please contact your nearest NIA office for further details.
