Farm Insurance Australia – Cover Options for Rural Properties

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Farm insurance policy packages can be a convenient way to help address the diverse insurance needs of rural property owners.

Buildings, machinery, livestock and liability risks can all affect a farm's finances. The cover you need will depend on your property, farming activities and the risks you want to insure.

Complete our farm insurance quote form to request a quote from an insurance broker through our national referral network.

Farm Insurance Options

Depending on the insurer and the sections you select, farm insurance may include cover for:

• farm dwellings and other nominated farm buildings;
• cars and farm vehicles, subject to their use and the vehicle cover selected;
• farm equipment and machinery;
• livestock against specified insured events;
• crops against specified insured events, where available;
• fences; and
• public liability for covered claims involving injury to other people or damage to their property.

Not every package includes all of these sections. Crop and livestock cover may require separate policies, and should not be assumed to cover every cause of loss, such as drought or disease.

Optional extensions or separate policies may also address:

• business interruption, which may cover lost farm income following insured damage, subject to the policy's triggers, limits and indemnity period;
• cash;
• farm electronics;
• goods in transit to and from the farm;
• farm machinery breakdown; and
• personal accident & sickness for farmers or eligible employees, subject to benefit limits, waiting periods and exclusions.

Limits and Exclusions to Check

Farm insurance varies between insurers in price, features, definitions and claims conditions. Read the policy wording, schedule and Product Disclosure Statement where applicable. Check which events are insured, including how fire, storm, flood and theft are treated, rather than assuming all natural disasters are covered.

Review sums insured, excesses, sublimits and any underinsurance conditions. Check how buildings and machinery would be valued after a loss, whether breakdown needs separate cover, and how wear and tear or maintenance-related damage is treated. Tell the broker about your farm's activities, including contracting, farm stays or visitors, so the relevant liability risks can be discussed.

What Affects Farm Insurance Costs?

Premiums can depend on the farm's location and activities, asset values, claims history, selected cover and excesses. When comparing quotes, consider the total cost, including any fees or payment charges, alongside the insured events, limits and exclusions. A lower premium may come with a higher excess or narrower cover.

Preparing for a Claim

Keep an up-to-date asset inventory, photographs, purchase records and maintenance records. If a loss occurs, contact the insurer or broker promptly, follow the policy's notification requirements and ask what evidence and repair authorisation are needed. Record damage safely and keep receipts for emergency expenses.

Explore Farm Insurance Options

Farm insurance policies are complex products, and it is important to discuss your circumstances with a licensed insurance professional before buying or renewing a policy.

Request a farm insurance quote from a broker

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Please note that some of our calculators may use assumptions that are not necessarily applicable to your current specific circumstances and we therefore cannot always guarantee their accuracy. You should always seek professional financial advice from a licensed professional before proceeding with any financial recommendations.

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