Farmers Should Embrace Livestock Insurance

By Soko Directory Team / December 23, 2015




Just as other things like cars and homes get insured, livestock too need be insured to avoid running into huge losses if anything was to happen.

It is important to get a livestock mortality cover against losses that may be as a result of accidental death, diseases of terminal nature, emergency slaughter on advice of a recognized veterinary officer and also theft. Most animals that can be covered include cattle, poultry, pigs, sheep and goats.

Only a small percentage of farmers in Kenya know about livestock insurance thus the need for more creation of awareness especially to those in the rural areas.

Most people in Kiambu County invested so much in dairy farming and many of them have therefore insured their livestock.

The Association of Kenya Insurers (AKI) said that Kiambu County has shown an improvement in livestock insurance since many of the dairy farmers have experienced great returns and the investment is picking up very quickly.

This year livestock insurance increased by 16 per cent, AKI statistics have indicated that livestock insurance boosted agricultural insurance products which are usually dominated by wheat, maize, and barley.

Kenyan farmers need to be enlightened on modern farming methods and the importance of livestock insurance so that the number can increase. The country depends on agriculture thus the urgent need to train farmers.

Dairy farmers are advised to form cooperative groups that can enable them get access to loans easily so as to expand their farming and embrace modern methods of farming that tend to be a bit expensive.

There is immense potential towards dairy farming in Kenya and this can help in boosting the economy of the country. When farmers insure their livestock, they are assured of animal safety at any given season of the year.

Farmers are being urged to invest in co-operative societies so as to increase their investments in dairy farming and securing them through insurance.

Kenyan cities tend to be the major market for dairy products and this has enabled the dairy sector to experience growth.

By selling milk only, farmers can be in a position to use the funds in financing some other farming projects and this can only be achieved through insuring dairy cattle.


Article by Vera Shawiza.

 



About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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