Crop Insurance Australia

Crop insurance protects the significant input costs invested in each growing season. A single hailstorm, frost event or failed season can result in losses exceeding $500 per hectare. For many farmers, the cost of insurance is modest compared to the financial impact of an uninsured crop loss, particularly for operations carrying debt or lease obligations.

Multi-peril crop insurance (MPCI) covers yield shortfalls caused by a wide range of perils including drought, frost, excess rain, hail, fire and heat stress. Unlike named peril cover, which only pays for specific listed events, MPCI protects against overall yield loss regardless of the cause. Premiums are higher but protection is significantly broader.

Standard named peril crop policies (such as hail-only cover) do not cover drought. Multi-peril crop insurance (MPCI) does cover yield reductions caused by insufficient rainfall. If drought is a significant risk for your region, MPCI may be worth the additional premium.

Crop insurance should be arranged before or shortly after sowing. Most insurers have application deadlines, and cover cannot be backdated. For winter crops, this typically means arranging cover between April and June. For summer crops, applications are generally required between September and November. Contact your Shielded broker early to ensure you do not miss the window.

Yes. Most crop insurers allow you to insure individual paddocks or selected blocks rather than your entire cropping program. This can be a cost-effective approach if certain paddocks are in higher risk areas (such as hail corridors or frost hollows) while others have lower exposure.

Crop insurance generally covers the growing crop up to and including harvest. Once grain is stored in silos or bunkers, it typically falls under a separate farm contents or stored grain policy. Some farm package policies include stored grain cover as standard. Check your policy or ask your Shielded broker.

Key crop insurers operating in Australia include WFI, Elders Insurance, QBE, CGU, Zurich and Hollard. Availability and appetite vary by crop type, region and season. At Shielded, we compare options from our insurer panel to find the most competitive cover for your cropping program.

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.