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Farm insurance

Farm insurance covers the risks unique to your farm, from crop protection to business interruption. Compare your options and speak to a specialist.

What you need to know

  • Farm insurance can be tailored to the unique risks associated with your business.
  • It can cover you if a storm destroys your crops, your livestock get sick or someone tries to sue you — it can even pay to repair or replace machinery.
  • You can also get hobby farm insurance if you run a small-scale business.

What is farm insurance?

Farm insurance is a type of business insurance tailored to those working in the agricultural industry. It can cover farm owners and operators for things like building, crop and livestock insurance. In many cases, you can tailor a policy to suit your farm and business's needs.

In lots of cases, brokers can work with you to do this.

Who offers cover?

Here are Finder's partners for farm insurance.

1 - 2 of 2
Name Product Fire, Smoke or Explosion Replacement of locks and keys Illegal use of credit card or financial transaction card Items of jewellery, gold or silver articles, furs, watches Valuables Cover
Elders Farm Home & Contents Insurance Insured Events Option
$2,000
$5,000
$10,000 per item & 25% of the sum insured for unspecified contents.
Optional
Elders Farm Home & Contents Insurance Accidental Damage Option
$3,000
$7,500
$10,000 per item & 25% of the sum insured for unspecified contents.
Optional
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1 - 2 of 2
Name Product Theft Accidental damage Locks and keys Removal of vehicle debris Towing costs
Elders Farm Vehicle Comprehensive Cover
$5,000
$20,000
Elders Farm Vehicle Third Party Property Damage
$0
$0
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Name Product Mobile machinery Unspecified mobile machinery Buildings Contents Fences
Elders Farm Property Cover
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Name Product Property in your physical and legal control Farm hosting Aerial spraying
Elders Farm Liability Cover
$500,000 for buildings
$10,000 per animal
Optional
Optional
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Finder survey: How many Australians of different ages have business insurance?

Response75+ yrs65-74 yrs55-64 yrs45-54 yrs35-44 yrs25-34 yrs18-24 yrs
I don't own a business86.05%75.16%74.27%73.91%66.54%63.11%52.86%
No6.98%12.42%9.94%13.53%15.75%18.45%21.43%
Yes6.98%12.42%15.79%12.56%17.72%18.45%25.71%
Source: Finder survey by Pure Profile of 1112 Australians, December 2023

What does farm insurance cover?

Farm insurance provides financial protection against the everyday risks you face as a farmer, from destroyed crops and property damage to liability claims.

What's typically covered

Farm insurance typically covers the following:

  • Home and contents. Farm insurance can cover your home and the items inside it from loss or damage due to natural disasters, theft or any other accident.
  • Farm property. You can also get cover for your rural property. This can include financial help if machinery, buildings, silage, grain or livestock is damaged or destroyed.
  • Farm liability. This covers you against liability claims for property damage or personal injury as a result of your business operations. This can include legal costs you might incur to defend yourself.
  • Farm vehicles. If you have any agricultural vehicles, this can protect them from loss or damage.
    Crops. If hail, fire, overspray, transit, livestock intrusion or storage loss damages or destroys your crops, this can cover you.

Extras that you can add-on

Many farm insurance policies also come with a few add-ons. These can include cover for:

Business Interruption. If something happens and you need to temporarily stop work on your farm, this can pay you lost income.

Transit. Cover for goods and items while in transit.

Machinery breakdown. If a piece of farm machinery breaks, this can cover repair costs.

Tax audit. This can cover the professional fees associated with hiring an accountant to assist you if you are audited.

Equine and stud stock. This can cover you if your stock dies by accident, illness or disease.

Personal accident. If you hurt yourself and need to take time off working, this can compensate you for the lost income.

You know your farm better than anyone else. Sometimes, it can be helpful to chat with an insurance broker who can tailor the quote to your needs. If you know exactly what you're looking for though, buying a policy online can be quicker.

Why do I need farm insurance?

If you rely on your farm to generate an income, you need to consider getting farm insurance. When something goes wrong, it can make sure you're not seriously out of pocket, whether that means covering the costs of broken machinery or paying legal fees if someone tries to sue you.

Even if you run a hobby farm, you still need to think about taking out farm insurance. Farming is a dangerous activity that requires dealing with machinery and animals on a daily basis. Things regularly go wrong — but farm insurance can make sure your hobby doesn't turn into a financial disaster.

Cloudfront
Did you know?
It is estimated that the cost of natural disasters in Australia will increase to $73 billion per year by 2060. With farmers expected to be hit especially hard. Read more statistics here.

Talk to a broker about farm insurance

Farm insurance is complicated. Fill out the form below, to receive free advice from a broker.

Frequently asked questions

Gary Ross Hunter's headshot
Editor, Insurance & Innovations

Gary Ross Hunter was an editor at Finder, specialising in insurance. He’s been writing about life, travel, home, car, pet and health insurance for over 6 years and regularly appears as an insurance expert in publications including The Sydney Morning Herald, The Guardian and news.com.au. Gary holds a Kaplan Tier 2 General Advice General Insurance certification which meets the requirements of ASIC Regulatory Guide 146 (RG146). See full bio

Gary Ross's expertise
Gary Ross has written 730 Finder guides across topics including:
  • Health, home, life, car, pet and travel insurance
  • Managing the cost of living

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2 Responses

    Default Gravatar
    KeithMay 5, 2023

    Please call 0458674979 to discuss.
    Regards
    Keith

      AvatarFinder
      SarahMay 11, 2023Finder

      hi Keith,

      We’re a comparison site and we’re not directly affiliated with any insurer. You’ll have to make contact with insurers directly to discuss your options.

      Best of luck!

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