The policy covers loss or damage to broadacre crops as the result of the occurrence of one or more of the following name perils during the period of insurance:
Drought, water stress, heat stress, flood hailstones, wind, frost, lightning, excessive rain, snow, hurricane, cyclone, tornado, wildlife, wandering livestock, accidental fire, bushfire and weed infestation, chemical overspray, insect or pest manifestation or plant disease out of reasonable control.
Wheat, barley, canola, lupins, chickpeas, lentils, faba beans, field peas, vetch, linseed, triticale, oats, hay, and rye.
Contact your local registered broker who will assist you through the process.
Step 1: Download the Latevo app and complete one or more Instant Quotes to access indicative coverage and price points.
Step 2: Pay the one-off $5000 plus GST application fee to Agri-Analytics to start the Latevo Income Assessment process. (The fee is eligible for a $2,500 plus GST rebate through the Federal Government’s Managing Farm Risk Programme.
Step 3: An initial confirmed and verified quotation will be provided to your broker and you will be able to bind Category 1 immediately.
Yes, you can request this through your broker.
Please be aware that you will only be able to bind to Category 1 prior to your Latevo Income Assessment being completed.
If you wish to bind cover prior to completing your assessment, your broker will be provided with Category 1, 2 and 3 quotations based on the district average. Keep this in mind if you have been completing indicative quotations on the Latevo App based on what you estimate your $/Ha average to be.
Once your Latevo Income Assessment has been completed, your Category 1 Policy Schedule will be adjusted to reflect your verified average $/Ha. Going forward, this verified number will be used for any upgrades to Category 2 or 3.
To be eligible for Category 2 and 3, your farming entity must have completed a Latevo Income Assessment, which involves analysis from the previous five production years as well as your estimate for the upcoming season.
The assessment is completed by Agri-Analytics and your broker can help facilitate this process.
You will also be provided with access to Latevo Crop Monitor.
Yes, but you will only be eligible for Category 1 cover based on your district average and no other upgrades will be available.
In order to be upgraded from Category 1, you must have completed a Latevo Income Assessment through Agri-Analytics, and we complete an assessment of on-farm seasonal conditions relative to historic average.
To assist with monitoring seasonal conditions, growers who choose to use Latevo Crop Monitor as a service will be provided with a weather station and satellite maps which assist in a more accurate assessment of their individual farm’s seasonal conditions.
In general, if a grower has completed their Latevo Income Assessment and the season is tracking within 20mm of their average Adjusted Growing Season rainfall, they will be offered an upgrade to Category 2.
For individual situations when automatic upgrade conditions haven’t been met, a further assessment is made which includes and on-farm assessment.
Further upgrades to Category 3 are considered when the on-farm average rainfall is between 50mm and 100mm above the average Adjusted Growing Season rainfall. There also needs to be evidence of sound grain marketing strategies.
If you suffer a peril(s) event and believe you may need to trigger a claim, immediately contact your broker and they will liaise with Latevo.