Volume insurance at VH Latvija has been extended until November 30!

WE ARE INSURED WITH VH LATVIA!

Farmers' mutual insurance cooperative VEREINIGTE HAGEL (VH Latvija) entered Latvia in 2012 and is represented in the local market by LATRAPS.

 

VEREINIGTE HAGEL is the leading farmers' mutual insurance cooperative in Europe and offers the best terms for crop insurance. In the last year alone, more than 2.6 million EUR has been paid out to farmers and around 6 million EUR in the last two years.

 

We have approached farmers who have been insuring their crops with VH Latvija for many years to share their insurance experience. Farmers reveal to us the reasons and benefits of insuring with us.

 

Elvis Lazdiņš – owner of LATVIJAS GRAUDS, SIA, representative of VH Latvija members, independent loss assessment expert.

 

I have been insuring crops from day one, since the founding of my agricultural company, and my other family business, z/s “Lazdiņi”, has also been insured by VH Latvija since this service was introduced to the LATRAPS range. As a LATRAPS Member, I am loyal to the company's values and trust the industry specialists who offer the best conditions. The risk coverages that are important for the farm are available at VH. The cooperation is long-term and positive. There is no reason to look for another cooperation partner.

 

The compensation received in case of losses has helped to maintain financial stability. The feeling when you see that the rape field has been threshed by hail and that the wheat has been rolled along the ground is terrible, but the peace of mind that comes with insurance is indescribable, because you know that it will not affect your cash flow. I recommend choosing adequate hectare values when insuring, so that there is no feeling of bitterness when an incident occurs.

 

As a practicing farmer who is also an expert in assessing crop losses, I understand the other farmer, because I am aware of how much time and effort is devoted to growing crops. Of course, the amount of losses I have seen more than convinces me of the correctness of the decision made – to insure.

 

May we succeed!

 

Oskars Balodis – son of the owner of the horse "Azaidi" (2nd generation farmer), head of the crop production department of the Latvian Agricultural Research Centre, independent damage assessment expert.

 

It must be said that since the beginning of the farm's existence, the fields have often suffered from various weather conditions, and there were years when, for example, hail and torrential rains destroyed half of the rapeseed harvest. We were happy when the opportunity arose to protect ourselves against these risks - by taking out insurance, and with a reliable insurer. At VH Latvija, we have been insuring crops from the first day the service was available in Latvia. For this, a huge thank you to LATRAPS, which made crop insurance possible in Latvia. VH Latvija is a reliable company that respects farmers and their relationships with them.

 

Rapeseed is the most financially profitable crop on the farm and we count on the rapeseed earnings – this means that any risks that occur in the rapeseed field can significantly affect the financial situation of the farm. The harsh winter of 2013/2014 was good evidence of this statement. After that, we also decided on winter crop insurance. Although winters are getting warmer, it can be misleading. Climate change is characterized by the fact that very warm winters will alternate with harsh ones, so we insure so that we can enjoy the winter in peace, whatever it may be. Fortunately, we have not had very large losses, but we have to call insurers almost every year. Security when planning income is the greatest financial benefit.

 

I have been working as an independent loss assessment expert at VH Latvija since day one. I have accumulated a huge amount of experience in almost 10 years. I have seen scenes of danger caused by weather conditions in the fields, but at the same time peace in the hands of farmers who have taken out insurance. In addition, when talking to farmers on calls, they quickly understand that you are not some 'specialist' from the outside, but a farmer, which allows you to find a common language and put yourself in each other's shoes.

 

Before everyone decides whether or not to insure their fields, I recommend talking to those farmers who do, evaluating the insurer's offers, and only then making a decision.

 

Many farmers calculate how much they will gain from insurance, but our farm calculates how much we will not lose by having insurance.

 

Artūrs Tjušs – owner of the "Meža Grumuži" z/s 

 

You could say that I have been insuring volumes at VH Latvija from day one, mainly because I trust the LATRAPS team.

 

The farm policy also regularly includes wintering risk, because the best harvests can be obtained from winter crops, and significant resources are invested in them in the fall. In order not to lose the invested funds, the only solution is insurance. Another reason that I encourage anyone who doubts whether to insure to consider is that changing wintering conditions cannot be influenced.

 

State support is also very important. First of all, it encourages people to take out insurance.

 

Since I started farming, there has rarely been a year without surprises. Therefore, since I started insuring my crops, I feel more secure about fulfilling my obligations to suppliers and creditors. Another important argument in favor of insurance is that it is positively evaluated by credit institutions when issuing loans.

 

Aivis Aizsilnieks – Member of the Board of Palsa, SIA 

 

I have been insuring in volumes since 2013. Insurance for me is coverage for a certain risk. In my opinion, this is a good product that everyone should use so that they don't have to turn to the government in crisis situations. I chose VH because I was confident that the presence of LATRAPS ensures that the insurer understands agriculture, and I won't have to educate the insurer at the expense of my farm, nor will I have to waste administrative resources fighting for compensation when an insured event occurs.

 

Winter crops are important for us not only from the point of view of yield potential, but also from the point of view of the distribution of the amount of work performed on the farm, because winter crops significantly lighten the amount of work performed in the spring. We are located in the North Vidzeme region, which is characterized by longer and more pronounced winters. Taking into account also our different soils, in unpredictable weather conditions, the situation for wintering plants in the fields can be critical. Wintering risk insurance is the most valuable insurance product in our situation.

 

Compensation has been received for unwintered crops and hail damage, which has certainly compensated for the lost harvest and part of the costs, allowing us to improve our financial situation. I would like to emphasize that once an insurance event has occurred, all subsequent actions up to the transfer of money to the account are very quick and easy – the arrival of an expert and assessment of the situation, preparation of documents, etc., practically do not require any involvement from the farm, this process has been well developed by VH Latvija in cooperation with LATRAPS.

 

Looking at the balance after 9 years of cooperation with VH Latvija, it must be admitted that state support is very important. Currently, the insurance premium for selected risks for farms is around 60 EUR/ha for winter rapeseed, around 20 EUR/ha for winter cereals, and around 5 EUR/ha for spring crops.

 

I view insurance in agricultural production in the same way as comprehensive insurance for a car – these are costs that must be taken into account in order to be a little better protected at time X. The more farmers insure their fields, the cheaper the policy will become.

 

The autumn crop insurance period has been extended until 30.11.2021.

Applications can be submitted electronically. –, as well as in person, at all LATRAPS offices.

For more information about crop insurance products and their conditions, please contact your LATRAPS agronomists or LATRAPS crop insurance representatives:

LATRAPS Volume Insurance Specialist:

Janis Petersons

phone: +371 29506979

e-mail: janis.petersons@latraps.lv

LATRAPS Volume Insurance Manager Vita Baumane

phone: +371 26160545

email: vita@latraps.com.