Bradesco Seguros invests in the segmentation of agricultural equipment

Growth in sales of agricultural machinery drives innovation in the equipment insurance market. In total, 58,4 thousand units were sold to rural producers in 2021, including the 5,7 thousand machines sold in December, when the volume exceeded the total for the same month in 17,6 by 2020%, according to data from Fenabrave . Compared to November, the increase was 9,2%. Bradesco Seguros is targeting agricultural equipment to expand the contracting of insurance policies in this niche market, making its product even more attractive to rural producers. Consumers have access to new accessory coverage for robbery/qualified theft, protection against fire, lightning and explosion in basic coverage for all types of equipment, ending the mobile/stationary concept. Brokers can now count on improvements to the digital tool ‘Business Portal’, optimizing the product offering process.

The insurance provides coverage against possible accidents, external damage caused to equipment, whether of mechanical, physical or electrical origin, as well as protection against theft and qualified theft, through the contracting of specific accessory coverage for this event, in addition to coverage for reimbursement of Expenses of Rescue. “From our basic coverage, we already offer very comprehensive services, covering accidents, breakdowns, loss and material damage of sudden, unforeseen and accidental origin to the insured equipment, in addition to external damage”, highlights Saint'Clair Lima, Director of Bradesco Insurance. Among the main accidental causes of external origin covered by insurance, the following stand out: fire, lightning, explosion, flooding, inundation and windstorm.

Having equipment or machinery stopped due to an accident or missing parts can cause huge losses. “Many of these agricultural equipment have high value and are usually financed through financial institutions, making taking out insurance even more essential. In addition to replacing the asset, the coverage supports the rural producer against possible default with the financial institution that granted the credit in the event of total loss of the equipment. In this case, insurance provides all the security and peace of mind to maintain productive and economic activity”, highlights the executive.

The insurance offers the possibility of covering damages caused to third parties by the insured equipment, through the contracting of additional Equipment Civil Liability coverage. “This coverage guarantees the insured the reimbursement of amounts for which he or she becomes civilly responsible in a court ruling or in an agreement relating to reparations for involuntary, bodily or material damage caused to third parties resulting from accidents caused by the equipment”, analyzes Saint’Clair Lima.

Furthermore, the insurance offers the possibility of guaranteeing the payment or loss of rent as a result of an accident involving an insured equipment, through the accessory coverage Loss or Payment of Rent. “The amount compensated by the insurance protects against the financial loss of renting the damaged equipment or in situations where it is necessary to cover the amount to be paid for the rental of other equipment, making up for the absence of that damaged equipment”, points out Saint’Clair Lima.

Today, Bradesco Seguros has 350 equipment models cataloged for acquiring agricultural coverage and keeps its database constantly updated to add new equipment. If the broker does not locate a specific type of equipment in the insurer's system, the Company provides a specialized technical team to evaluate and properly classify the suggested equipment.