GENERAL INFORMATION ON THE as specified in the policy contract and the payment of • Commercial Car
premium thereof. - Loss of or damage to the scheduled vehicle
NON-CROP AGRICULTURAL ASSET
and its accessories and spare parts whilst
INSURANCE PROGRAM thereon:
PREMIUM RATES, DISCOUNTS AND
a. by accidental collision or overturning
DEDUCTIBLES consequent upon mechanical breakdown
or consequent upon wear and tear;
• Fire and lightning b. by fire, external explosion, self-ignition or
Agricultural assets shall pertain to machineries,
Premium rating of all risks, including applicable lightning or burglary, housekeeping or
equipment, transportation facilities and other related
discounts and deductibles shall be in accordance theft;
infrastructures directly or indirectly used in the pursuit
c. by malicious act;
of agricultural activities including production and with the prevailing industry practice.
d. whilst in transit (including the processes of
processing, marketing, storage and distribution of
loading and unloading) incidental to such
goods and services. • Property Floater transit by road, rail, inland waterway, lift or
The premium rate shall be based on the prevailing elevator.
TYPES OF INSURANCE COVER AND RISKS rate in the area; provided that in no case shall said rate - Other risks specified in the commercial car
ELIGIBLE FOR COVERAGE be lower than One Percent (1.0%) of sum insured if policy, e.g.., CTPL.
the coverage is an initial insurance coverage for the
• Fire and Lightning subject property or the rate as expiring if renewal, PROHIBITED RISKS AND PERILS
- Warehouse risks for agricultural produce,
subject to a minimum premium of Four Hundred
machineries and equipment.
Pesos (P400.00) per policy. • Fire and Lightning
- Industrial risks for processing of agricultural
- Non-agriculture related warehouse and
The per event deductible shall be One Percent industrial risks.
- Poultry houses, pig pens, stables and other
- All fire risks not classified under warehouse
similar structures. (1.0%) of sum insured or One Thousand Pesos
- Other related infrastructures. (P1,000.00), whichever is higher. - Earthquake, riot and all allied perils (typhoon,
Note: Allied perils such as: typhoon, flood, earthquake, • Commercial Car - Burglary and robbery.
and other perils as rider in fire policy may be included, - All prohibited risks and perils under ordinary
The premium rating of all risks shall be in
subject to approval by PCIC Head Office. fire policy.
accordance with the prevailing industry practice.
- Loss or damage related to war and terrorism.
• Property Floater
The per event deductible shall be One Percent
- Tractors, threshers, trailers, shallow tube wells, • Property Floater
other related farm machineries. (1.0%) of sum insured or Three Thousand Pesos
- Loss or damage to the property insured
(P3,000.00), whichever is higher. caused by or resulting from wear and tear,
• Commercial Car gradual deterioration, inherent vice, latent
- Agricultural transport facilities/vehicles used COVERED RISKS defect, mechanical breakdown, corrosion,
for hauling agricultural products such as: rust, dampness of the atmosphere and/or loss
trucks and pickups • Fire and Lightning or damage caused by perils other than those
- Damage to insured property due to fire and specified above.
- Loss or damage to electrical appliances or
PERIOD OF COVER lightning.
devices of any kind including wiring caused by
electrical current or disturbance whether from
The period of insurance cover shall be for a maximum • Property Floater artificial or natural cause unless fire ensues and
of one (1) year commencing on the effectivity date or - All risks of direct physical loss or damage to the then for the loss by fire only.
property insured from any external cause.
- Loss or damage caused by repairing, adjusting,
servicing or maintenance operations, unless
WHERE TO FILE APPLICATION NON-CROP
fire ensues and then for the loss by fire only.
- Infidelity of the assured’s employees or of
• PCIC Head Office AGRICULTURAL
• PCIC Regional Offices
persons to whom the assured’s property is ASSET INSURANCE
- Loss or damage occasioned by the weight of a NOTICE OF LOSS PROGRAM
load exceeding the registered lifting capacity
of any machine. In the event of loss, a Notice of Loss (NL) shall be General Information on the
- Loss or damage caused directly or indirectly by
invasion, the act of foreign enemies, hostilities,
immediately filed with the PCIC Regional Office.
NL shall be in writing and must at least contain the ff.
Non-Crop Agricultural Asset
warlike operations, (whether war be declared information: a) name and address of the assured, b) type Insurance Program
or not) civil war, mutiny, rebellion, revolution, and number of policy, c) location of insured property, d)
insurrection, military or usurped power or by date and time of occurrence of loss, e) cause of loss, and
any direct or indirect consequences of any of f ) extent of loss/damage.
the said occurrences.
- Consequential loss or damage of any kind or
PROOF OF LOSS
description whatsoever including 1) delay in
completing, negotiating and loss of contracts
and 2) deterioration and loss of market. • Filing of Proof of Loss
- Other prohibited cause of loss/damage A proof of loss, signed and sworn to by the assured,
stipulated in the property floater policy. shall also be filed with the PCIC Regional Office.
- Loss or damage arising from the prohibited
risks stipulated in the property floater policy.
• Fire and Lightning
• Commercial Car - Within Sixty (60) calendar days after the loss.
- Loss or damage in respect of any claim or series
of claims arising out of one event unless such • Property Floater
loss or damage is in excess of the deductible - Within ninety (90) calendar days after the
and then only for such excess; loss. DEPARTMENT OF AGRICULTURE
- Consequential loss, depreciation, wear and
tear, mechanical or electrical breakdowns, • Commercial Car
failures or breakages;
- Damage to tires, unless the Scheduled Vehicle
- Within three (3) calendar days from NL filing. CROP INSURANCE
is damaged at the same time; CORPORATION
- Any malicious damage caused by the assured, ADJUSTMENT AND SETTLEMENT OF CLAIMS
any member of his family or by a person in the “Sa Paglaban sa Kahirapan at Gutom,
assured’s service; • Adjustment of claim shall be done by PCIC Crop Insurance, Katulong sa Pagbangon.”
- Loss of, or damage to accessories or spare personnel or as the PCIC may deem necessary, such
parts by burglary, house breaking, or theft, may be assigned to an independent adjuster.
unless the Scheduled Vehicle is stolen at the 7th Floor, Building A, NIA Complex, EDSA, Diliman,
• A claim shall be settled as expeditiously as possible
same time; Quezon City, Philippines
upon receipt of complete claim documents from
- Loss or damage arising from the prohibited the claimant.
perils, exceptions and limitations stipulated in Phone (02) 441-1323
• PCIC shall be liable only to the extent as specified
the commercial car policy. TeleFax (02) 441-1324
in the policy contract or as agreed upon by and
between the assured and the insurer.