Farm Insurance at a glance

By John Bowman    December 10, 2019

What is Farm Insurance?

Working on the land brings  many  rewards  –  but just as many risks. As a farm owner, you’re vulnerable to bushfires that that can destroy livestock or damage your buildings and other property; machinery breakdown which can cost you time and money; personal illness or a serious accident; or even a claim from a guest injured on your property.

That’s why farm insurance can help protect your farm and its produce, and the wellbeing of you, your family and the people that pass through your property.

Who should consider it?

Whether you’re a large-scale crop grower or livestock producer or a small family or hobby farm, Farm Insurance can help protect your farm, its produce and livestock – and the people who benefit from it

Australian Bureau of Statistics, 2018

Did you know?

– Australian Farm Income passed $60 billion for the first time in 2016/17

(National Agriculture Day, Food, Fibre & Forestry Facts, 2018)


– In NSW alobe, theft of cattle and sheep between January and October in 2017 cost farmers $2.8m and $1.4m respectively

(The Land, “Thefts costs farmers millions,” 2018)


– In 2009-10, 17,400 agricultural workers become ill or were injured due through work

(Safe Work Australia, Work-related deaths and injuries on Australian Farms, 2013)

What can it cover?

Farm insurance can be tailored to cover your home and farm buildings, livestock, vehicles, equipment and more. It can also safeguard you against theft and loss of income. For example, a typical Steadfast Farm Pack can cover:

Type of Cover

Potential Benefits


Home Property
Domestic property and belongings from defined events or accidental damage. Cover may include Buildings, Contents, Personal Effects, legal Liability and/or Domestic Workers Compensation Cover

Farm Property


Physical loss or damage to Farm Property caused by defined events or Accidental Damage

Public and Products Liability


Claims by Third parties for Personal injury and/or Property Damage and/or legal costs in connection with the Farming Business

Accident and sickness cover


Regular payments to help keep your business running if you’re injured or fall ill



Death or loss of livestock due to specified events.

Machinery Breakdown


Damage to electrical and mechanical machinery, boilers and pressure vessels for loss or damage caused by breakdown

 What usually isn’t covered?

Exclusions, the excess you need to pay and limits of liability can vary greatly depending on your insurer. Policies generally won’t include cover for:

  • Loss or damage to property caused by gardual deterioration or wear and tear
  • Flood
  • Loss caused by earth movement unless the earth movement occurs within 72 hours of certain events
  • Damage caused by tenants unless the risk is accepted by the insurer



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 suitable 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.


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