Search for insurance help

Farm Insurance at a glance

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

Management Liability insurance is designed to provide protection to both the business and its directors or officers for claims of wrongful acts in the management of the business.

A business insurance pack can provide cover for your business premises and contents, against loss, damage, theft or financial loss from an insured interruption to the business.

Purchase up to six products under one Business Insurance Package. 

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
   Livestock    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 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.

John Bowman, Arma Insurance Brokers Young, ABN 88647785301, AFSL 233750

Comments (0)

Related insurance brokers

Review rating
26 reviews

Featured Featured

Tony Venning

Crucial Insurance and Risk Advisors

  • Typically replies within
    a few hours
  • Review rating
    237 reviews

    Featured Featured

    Morgan Insurance Brokers

  • Typically replies within
    a few minutes
  • Review rating
    16 reviews

    Featured Featured

    Shane Brady

    Stone Lane Broking & Risk Advisory

  • Typically replies within
    a few minutes