State to take greater part in crop insurance – Possible increase of subsidies to 70%

Producers from western Serbia, whose crops, as it turns out, are the most affected by adverse weather conditions, hail in particular, will be able to get more substantial subsidies for insuring their production, Politika writes.

As the newspaper reports, the Government of Serbia is considering the possibilities of raising the share of subsidies from the current 40% to 60 to 70% in the most affected areas.

As Minister of Agriculture Branislav Nedimovic told Politika, it has turned that the system of insurance support in the most affected areas needs to increase. He pointed out that he hoped that the initiative would be put to practice the next year.

The insurance companies operating in Serbia provide agriculturists with the possibility of insuring practically any kind of production from nearly all the most common risks. However, only 10% of the crops in Serbia are covered by insurance, putting the country at the bottom of the list in Europe, whose average is 50%.

A loss of yields can be insured from several different types of risk. Fires, thunder strikes and hail are considered the main ones and around 95% of the producers opt for this type of insurance.

Floods, autumn and spring frost or storms are additional risks, but there’s no great interest in these type of protection, as they increase the premium.

The premium depends on the crop type, the location of the plantation, the coverage option, the yield and the price of the product.

Vlada Republike Srbije

Government of Serbia

insurance of agriculture

insurance of crops

insurance of agricultural production

subsidies for insurance of agriculture

agriculture insurance premium