Agricultural Disaster Insurance: Who Qualifies and What You Get
Learn how this insurance protects your crops from natural disasters like typhoons and frost in South Korea.
This scheme provides financial protection for farmers to help cover losses caused by unexpected natural weather events.
Who it's for
This is designed for farmers who grow specific insured crops, such as rice, fruits, or vegetables.
What you get
If your crops are damaged or lost due to natural disasters—such as typhoons, drought, or frost—you can receive compensation to help recover your losses.
What it costs you
You are required to pay an annual premium to keep your coverage active. However, the government provides significant support by covering a large portion of this cost, meaning you only pay a fraction of the total premium.
The catch to know
You cannot apply for this insurance after a disaster has already happened. You must be signed up and enrolled before your growing season begins to ensure you are covered when the weather turns.
How to apply
- Identify if your specific crops are eligible for coverage.
- Contact your local insurance provider to discuss enrollment.
- Complete the registration process before your current growing season starts.