Farm Insurance - a general overview

Why farmers really need an insurance broker.

Farming is hard work. For farmers, there are many variables such as the weather, crop and stock prices, drought and floods and changing consumer expectations and tastes that all have an impact on how farms perform. In addition to these variables that farmers face, there is yet more complexity for farmers due to the time required for the crops to grow and for stock to mature and be ready for market. Farming really is hard work! 

Given the number of variables and the level of complexity, making sure that you have sufficient risk protection across your farm is vital. Working with an insurance broker who understands farm insurance and has experience placing insurance for farms can help reduce the risks you face and help you to find farm insurance that matches your requirements.


Your Farm Insurance Needs Change

Farms change over time. Stock levels rise and fall, new machinery and farm equipment gets purchased and the value of your produce fluctuates as the market moves up and down. With so much change, it is important to make sure that your farm insurance matches the current needs of your farm and is not simply a reflection of yesteryear. An insurance broker with experience in farm insurance will be able to keep up with these changes and ensure you are adequately covered. Farm insurance can’t be a set and forget activity! 


New Farm Insurance Products Come to Market

The farm insurance product that is most appropriate for you today, may not be the most appropriate farm insurance product for you in a few years time. This might be because you’ve introduced cutting edge equipment and adopted new farming technology. Perhaps you’ve simply updated equipment and farm machinery as your existing equipment wears out. With changes to your farm equipment you may find there is a new or different farm insurance policy that better aligns to your new needs and your new tools and equipment. 

Also, farm insurance policies change over time as inclusions and exclusions are added in or taken out of farm insurance policies. Making sure your farm insurance policy is still fit for purpose and matches your needs is essential. As farm insurance policy wording may change over time, an insurance broker with experience with farm insurance policies, is well placed to understand any new terms or critical policy wording.


Claiming on Farm Insurance Policy

When you are making an insurance claim on your farm insurance, something has gone wrong.   You’re busy, you’re stressed and stretched. You need an insurance expert in your corner to help you as you manage your farm and look to minimise the impact of the problem. 


During an insurance claim, Insurance Brokers can assist in:

  • Filling out insurance paperwork to kick start the insurance claim process.
  • Chasing up insurers to check on the status of your insurance claim.
  • Negotiate claim settlement on your behalf
  • Helping you understand the specific reasons why claims are approved or rejected
  • Providing options for escalation to gain more support. 

Insurance brokers can help you navigate the complexity of your farm insurance claim and can help you understand any requests or feedback from the insurer. Their aim is the same as yours, to help ensure your insurance claim is settled as quickly and efficiently as possible.

Insuring a farm is not simple. Farms change, farm insurance products change and even if you have great coverage, in the event of a claim there is time and effort to get a strong outcome. Having an insurance broker in your corner who understands farms and farm insurance allows you to get on with the job, knowing you’re covered.






General Advice Warning: This advice is general and does not take into account your objectives, financial situation or needs. You should consider whether the advice is appropriate for you and your personal circumstances. Before you make any decision about whether to acquire a certain product, you should obtain and read the relevant product disclosure statement.

All information above has been provided by the author.

Abbie Wilson, National Insurance Brokers, AFSL : 233750 , AR Number: 443875, CAR Number: 461886

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