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Comprehensive Insurance of Agricultural Machinery in Bulgaria

Comprehensive Insurance of Agricultural Machinery in Bulgaria

The insurance is designed for owners and hirers of agricultural machinery and equipment.

Subject matter

  • fixed agricultural machinery and equipment, including electronic equipment
  • self-propelled agricultural machinery and equipment

As per an additional agreement the following can be insured:

  • agricultural crop – ready or in the process of being processed
  • additional expenses – permanent and resulting from the interruption of the activities

Risks covered

  • fire and natural calamities
  • mistakes during the work and servicing of the insured property made by the servicing personnel
  • insufficient experience, mistakes during the design stage, during manufacturing or assembly
  • defects in the cast and the material
  • bad workmanship of the details
  • insufficient water in the steam boilers, physical explosion, rupture resulting from centrifugal forces and/or fatigue of the material
  • short circuit resulting from a storm or another reason that is not explicitly stated in the exclusions.

The insured sums are set on the basis of the replacement cost value of the insured machinery and equipment, i.e. it must correspond to the expenses for replacing the insured machinery/equipment with a new one of the same type, capacity and purpose. The replacement expenses include transportation, disassembly and assembly costs, as well as possible fees and customs duties.

The insurance premium depends on the chosen risks covered. It is paid as a lump sum or in installments. 

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