Crop insurance is insurance used by agricultural producers to cover financial losses resulting from the loss of their crops due to natural disasters, eg. drought, flooding or hail damage, or financial loss due to declines in the market price of their crops.

Crop insurance covers risks to crops from natural disasters (hail, flood, drought) and may also cover loss of crop due to insect plague, disease, chemical overspray or damage from straying livestock.

What is key to remember is that the cost of Crop insurance is often a function of the coverage being provided, so cheaper Crop insurance may not always offer the same levels of coverage as more expensive alternatives. You want to consider your coverage requirements first, such as the scale of your operations and number of farms or fields, and then seek to determine the costs associated. Talk to your insurance broker about Crop Insurance policies that allow you to pay for cover in profitable years, in return for payouts in non-profitable years.

Using an Insurance Broker for your Crop insurance needs ensures that your business has managed its risks. Every business is different and an insurance broker can help by assessing your unique business risk profile and providing advice on the best insurance cover, including Crop insurance for your business. An insurance broker will also help when it comes time to claim, advocating for you to negotiate the best outcome in the settlement of your claim with the insurer.

So whether it's hail and fire, livestock intrusion or chemical overspray, your Insurance Broker can assist you to be covered.