Broadacre Farm Insurance

Premiums range from $8,000 to $25,000 per year for smaller cropping operations, $25,000 to $80,000 for large enterprises, and $80,000 to $200,000 or more for very large multi-property operations. Crop insurance is priced separately at 2% to 8% of insured crop value depending on crop type and region. Shielded Insurance provides free comparisons across leading rural insurers.

Multi-peril crop insurance (MPCI) covers a broader range of perils than standard hail and fire policies, including frost, flood, drought, excessive rain and disease. Premiums are higher - typically 5% to 12% of expected crop revenue - but the protection is more comprehensive. MPCI is particularly valuable in regions with high frost, flood or drought frequency where hail and fire cover alone leaves significant gaps.

Yes. Fire is a standard covered peril under both crop insurance (for standing crops) and machinery insurance (for the header itself). Given that modern headers cost $600,000 to $1,200,000 and a harvest fire can also destroy thousands of hectares of crop, adequate fire cover on both machinery and crops is essential for any broadacre operation.

Spray drift liability is covered under the public liability section of most broadacre farm policies. If chemical application drifts onto neighbouring properties and causes crop damage, health issues or environmental contamination, your liability cover responds to third-party claims. Ensure your policy specifically includes spray drift and that your liability limits are sufficient.

Standard named-peril crop insurance (hail and fire) does not cover frost. Frost cover is only available through multi-peril crop insurance (MPCI) products. Given that late frost events regularly cause millions of dollars in crop losses across southern Australia, MPCI with frost cover is worth considering if you farm in a frost-prone region.

Grain in on-farm silos, sheds or bunkers should be insured under the grain in storage section of your farm policy. Declare the maximum value of grain that will be stored at any time during the season - this is usually highest between harvest and delivery. Cover typically applies for fire, storm, water damage and contamination. Update declared values annually to reflect current commodity prices.

Major insurers offering broadacre farm and crop cover include WFI, QBE, CGU, Elders Insurance, Zurich and Hollard. Some specialise in named-peril crop cover while others offer multi-peril products. At Shielded Insurance, we compare across these insurers to find the best combination of farm property and crop cover for your broadacre operation.

Australian farm insurance typically includes cover for farm buildings and structures, contents and machinery, livestock, crops, public liability, farm motor vehicles, and business interruption. Most insurers offer a farm package policy that bundles these covers together. At Shielded, we compare packages from insurers like WFI, Elders, QBE, CGU, Zurich, Hollard and others to find the right combination for your operation.

Farm insurance premiums vary significantly based on property value, location, farm type, and the covers selected. A basic hobby farm package may cost $1,500 to $4,000 per year, while a large broadacre or cattle operation could range from $5,000 to $20,000 or more. Factors like bushfire or flood risk zones, claims history, and the value of machinery and livestock all affect pricing. Request a free quote through Shielded for an accurate indication.

Crop insurance is usually an optional add-on to a standard farm package, not included by default. It protects against losses from hail, frost, fire, flood and other weather events that affect crop yield and quality. Multi-peril crop insurance (MPCI) provides broader cover but is priced based on your specific crop type, location and historical yields.

Most comprehensive farm insurance policies include cover for bushfire, storm and flood damage to buildings, contents, machinery and fencing. However, coverage limits and excesses can vary significantly depending on your property's risk rating. Properties in high-risk bushfire or flood zones may face higher premiums or specific excess levels. It is important to review your policy details and sum insured amounts regularly.

Farm liability insurance (also called public liability) protects you against claims for bodily injury or property damage caused by your farming operations. If a visitor, contractor or neighbour is injured on your property, or your livestock escape and cause damage, liability cover pays for legal costs and compensation. Most farm package policies include $10M to $20M of public liability cover as standard.

Farm machinery and equipment are typically covered under the contents and machinery section of a farm package policy. However, high-value items like harvesters, headers, tractors and irrigation equipment should be individually listed with accurate sum insured values. Portable equipment and items used away from the property may need additional cover. Review your sums insured annually as replacement costs increase.

Contact us at Shielded Insurance on 1800 97 98 99 or reach out to your insurer directly. We recommend notifying us as soon as possible after a loss event, documenting the damage with photos, and keeping records of all related expenses. Our team will guide you through the claims process.

Yes. Hobby farms and lifestyle properties can be insured under specialist rural property policies or scaled-down farm packages. These policies typically cover the dwelling, sheds and outbuildings, fencing, a small number of livestock, hobby machinery and public liability. Insurers like CGU, WFI and QBE all offer hobby farm products. Premiums are generally lower than commercial farm policies.

We compare farm insurance quotes from a wide panel of Australian rural insurers including WFI, Elders Insurance, QBE, CGU, Zurich, Hollard, Nutrien Ag Solutions and others. The best insurer for your situation depends on your farm type, location, and the specific covers you need. As brokers, we do the comparison work for you.

Review your farm insurance annually at renewal, or whenever there are significant changes to your operation - such as purchasing new machinery, building new structures, expanding acreage, adding livestock, or changing your farming activities. Building costs and machinery replacement values increase over time, so keeping your sums insured up to date is essential to avoid being underinsured at claim time.