Naju City Launches Campaign to Promote Enrollment in Agricultural Machinery Comprehensive Insurance

[Asia Economy Honam Reporting Headquarters Reporter Kim Yukbong] Naju City, Jeollanam-do (Mayor Kang In-gyu) announced on the 19th that it has recently launched a campaign to inform and promote enrollment in comprehensive agricultural machinery insurance to compensate for damages to agricultural machinery caused by the recent heavy rains and flooding.

The comprehensive agricultural machinery insurance covers damages to agricultural machinery caused by falls, fire, flooding, bodily injuries, and liability for personal and property damages.

The insured agricultural machinery includes a total of 12 types: ▲rotavators ▲tractors ▲combines ▲SS sprayers ▲riding cultivators ▲riding rice transplanters ▲aerial pesticide sprayers (including drones) ▲wide-area pesticide sprayers ▲balers ▲agricultural excavators ▲agricultural power carriers ▲agricultural loaders.

To apply, visit the local Nonghyup (National Agricultural Cooperative Federation) where you can submit the damage report.

Insurance enrollment is available year-round at local Nonghyup branches, and the coverage period is one year from the date of enrollment.

Meanwhile, the city is promoting the "Comprehensive Agricultural Machinery Insurance Support Project" as a pledge of the 7th local government administration.

Until last year, 50% of the insurance premium was supported by national funds, but starting this year, to increase enrollment rates, the city is additionally supporting 30% of the self-pay portion with municipal funds, providing a total of 80% support.

Enrolled farmers only need to bear 20% of the total insurance premium.

Basic livelihood security recipients and lower-income groups receive 100% support for their insurance premiums.

In 2018, 9.1 million KRW was supported for 911 farms, and last year, 13 million KRW was supported for 855 farms.

This year, due to the expanded insurance premium support measures, as of the end of June, 1,554 farms (1,877 units) have enrolled, and farms enrolling in the second half of the year will receive retroactive support in next year’s main budget.

Mayor Kang In-gyu said, “The recent heavy rains caused flooding damage to houses, farmland, and agricultural machinery, creating significant difficulties for farmers. We urge everyone to enroll in comprehensive agricultural machinery insurance to prepare for unexpected natural disasters and ensure stable farming activities.”

This content was produced with the assistance of AI translation services.