Farm Insurance
Perth, Sydney, Melbourne, Brisbane & Canberra

A farm insurance review should describe the enterprises operating on the property and the way their values change through the year. Cropping, livestock, horticulture and mixed farming create different concentrations of produce, inputs and machinery. Identify each location, who occupies it and whether buildings are used for storage, accommodation or processing. Include leased land, agistment, contract work and any tourism or retail activity. A shed containing low value equipment for most of the year can hold a much larger value during harvest. Declared amounts should be considered against those peaks rather than a quiet month.

List machinery by role as well as value. The loss of a tractor, header, irrigation controller or refrigeration unit may affect production differently. Explain which items are used on public roads, hired out or operated by contractors. Livestock and produce also need a specific discussion about insured events and exclusions; a general farm package does not establish that every disease, weather event or production shortfall is covered. Water availability, power supply and access to repair services can influence recovery time. These details help the broker ask relevant questions about property, liability, machinery and interruption options.

Keep land leases, agistment terms, machinery finance documents and contract farming agreements with the insurance records. They can show who owns an asset, who bears the risk of damage and who has accepted responsibility for another party’s loss. A neighbour’s livestock on your land or a contractor’s equipment in your shed should not be assumed to fall within your own asset schedule. Ask about property belonging to others and liability associated with chemicals, escaped animals, farm visitors and services performed away from the home property. Each exposure needs to match the declared activities.

Review how buildings, fencing, tanks, pumps, solar installations and stored inputs are valued under the selected policy. Replacement costs can include freight and specialist installation, while rebuilding on a remote property may take time. Obtain advice about any average or underinsurance provision rather than treating a sum insured as a simple maximum payment. For machinery, compare accidental damage, theft and breakdown cover. Wear, maintenance and mechanical failure may be treated differently. If livestock or harvested crop cover is being considered, ask which events are covered, what evidence of numbers or values is expected and how seasonal changes are handled.

After a loss, record the affected location, assets and farming activity, together with photographs and available maintenance or purchase records. Keep a record of urgent measures used to protect stock, animals or equipment. Safety and animal welfare decisions may need immediate action; document why a step could not wait and contact the insurer or broker as soon as practical. Preserve invoices for temporary power, transport or alternative storage without assuming each expense is insured. The policy trigger and any approval conditions will influence how those costs are assessed.

Before renewal, think through the farming calendar and the consequence of losing a key asset just before its busiest use. Replacement lead times, contractor availability and access roads can matter as much as the asset price. Update the schedule after major purchases, new sheds, changed livestock numbers or a new enterprise. Review whether an interruption estimate reflects the farm’s actual seasonal earnings and expenses. Discuss changed chemical storage, visitor access or contracting work while there is time to obtain terms. A current map, asset list and contact plan can also make a remote loss easier for everyone involved to understand.