Forest insurance
Ensure your forest’s value and profitForest insurance according your needs
You can choose the cover for your forest that you need.
We also compensate expectation value losses
If trees are damaged, you will also be compensated for the lost future income.
Benefits for OP cooperative bank's owner-customers
As an owner-customer, you will get a discount on your policies and also receive OP bonuses.
Forest insurance covers your property
Forests are valuable property and you should be covered against any risks with the appropriate forest insurance. Almost 80% of all forest damage is caused by storms, but insects losses are rising steadily.
Our most comprehensive forest insurance covers losses caused by storm, snow, fire, flood, lightning, insects, theft and vandalism. We also cover losses caused by fungi, deer, rabbits, rodents and birds and most fungi to sapling stands and seedlings to be planted. You can also choose less comprehensive forest insurance or just forest fire insurance.
- trees, sapling stands and seedlings to be planted
- felled logs or pulpwood and timber
- wood-felling residues intended for use as bioenergy.
The most comprehensive forest insurance gives the best coverage
The most comprehensive forest insurance is the best choice for mature forests, growth forests and sapling-dominated forests. Mature forests are primarily threatened by storms and insects. If you forest is hit by storm, there may still be timber to sell, so we recommend that you choose either 23 or 32 euros per solid cubic metre as the maximum compensation.
Growth forests are particularly susceptible to storm and snow damage. The amount of compensation based on expected value may be high, which is why we recommend that you select 32 euros per solid cubic metre as the maximum compensation.
The greatest threat to sapling-dominated forests is posed by moles. The maximum compensation sufficient for storm damage is 16 euros per solid cubic metre.
Climate changes increase the probability of storms and the number of pest insects. The only way to make sure that a forest will be profitable in the future is to insure it.
Forest insurance covers damage and lost income
Forest insurance will compensate when at least 15 solid cubic metres is destroyed or at least 0.5 hectares of sapling stand. Losses are compensated on the basis of a loss estimate - storm damage up to the maximum amount of compensation you chose.
If, as a result of the damage, the forest is underproductive and must be regenerated too early, the insurance reimburses the expectation value of the damaged tree stand. We also cover fire-watch costs after a forest fire.
You can insure an area of up to 5 hectares, either a forested plot or a forest of scenic value, with cover that is higher than normal. This means, for example, that the storm damage compensation has no upper limit. We compensate losses even if less than 15 solid cubic metres of trees is damaged, or damage extends to less than 0.5 hectares of a sapling stand.
The insurance is issued by Pohjola Insurance Ltd.