Farm Machinery and Outbuildings or Rural Pledge
The Farm Machinery and Outbuildings and the Rural Pledge insurances encompass agricultural and livestock activities as well as rural producers’ assets, offering safety to those who dwell in those activities and mitigating dangers their investments may face.
Both products are part of our Rural segment, and both are subdivided: Machinery and/or Equipment, and Outbuildings. In the case of machinery and equipment, it is possible to assure tractors, pulverizers, harvesters, farm implements, stationary equipment, and portable equipment. As for policies regarding outbuildings, the aim is to protect structures such as sheds, warehouses, and housings (headquarters and staff house). To hire it, one must necessarily hire basic coverage: additional coverage offered by Sombrero are optional, according to each producer’s needs.
Farm Machinery and Outbuildings Insurance
This insurance covers losses and/or damages caused on assets directly associated to agriculture, livestock, aquaculture, and forestry activities which have not been listed as pledged assets in rural credit operations.
Rural Pledge Insurance
Rural Pledge Insurance covers losses and/or damages caused on assets directly associated to agriculture, livestock, aquaculture, and forestry activities which have been listed as pledged assets in rural credit operations.
About the Insurance
Assured:
Small, medium, and big farmers.
Coverage:
Subdivides into Machinery and Equipment, Solar Panels, and Outbuildings.
Covered Perils:
Machinery and Equipment - basic coverage.
Solar panels - basic coverage.
Outbuildings - basic coverage.
*For more information on additional coverage, contact us.
Beneficiary:
Individuals or legal entities (such as Banks).
Claim:
The occurrence of perils covered by said product, leading to damages on the assets listed in the policy, whenever those are directly related to agriculture, livestock,
aquaculture, and forestry activities, and are owned by the Assured, or are demonstrably under his responsibility.
Indemnification:
Payment stems of the occurrence of a claim covered by the insurance and shall match the compensable damages caused on covered assets listed in the policy, up to the policy value limit hired in each coverage.
SUSEP Circular No 621/2021 – Art. 5: The insurance proposal and contract conditions shall inform, in accordance with the remaining requirements included in current regulation, the following:
I – the acceptance of the insurance proposal is subject to risk analysis;
II – product registration is automatic, and does not indicate approval nor recommendation from Susep; and
III – the policyholder may verify the status of both the insurance broker’s registration and the insurer’s registration at the website www.susep.gov.br.
§ 2: The information in the item II above shall be inserted, necessarily, in each and every marketing and advertising material used.
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