Farm Building Insurance

Yes. Most farm building policies include fencing cover, but it is often subject to sub-limits or per-kilometre caps. Given the high cost of replacing rural fencing, it is important to calculate your total fencing replacement value and ensure your policy limits are adequate. Discuss your fencing requirements with your broker.

Flood cover varies between insurers and policies. Some include riverine flood as standard, others offer it as an optional add-on, and some exclude it entirely for properties in high-risk flood zones. Flash flooding from stormwater may be treated differently to riverine flooding. Always check your policy wording or ask your Shielded broker to clarify flood cover.

Replacement value covers the cost to rebuild the structure to the same standard using current materials and labour. Indemnity value accounts for depreciation based on the age and condition of the building, meaning you receive less than the full rebuild cost. Most farm building policies offer replacement cover, but it is critical to ensure your sums insured reflect current construction costs.

It depends on the policy. Some farm building policies cover only permanently fixed structures. Portable shelters, temporary shade structures and relocatable buildings may need to be listed as contents or portable items rather than buildings. Check the definitions section of your policy or ask your broker.

Solar panels permanently attached to an insured farm building are generally covered as part of that building. However, ground-mounted solar arrays may need to be listed separately. Ensure the value of solar installations is included in your total building sum insured.

If your sum insured is less than the actual replacement cost, most insurers will apply an averaging or co-insurance clause. This means your claim payout will be reduced proportionally. For example, if you are insured for 60% of the true replacement value, you may only receive 60% of any claim. Regularly reviewing your sums insured avoids this penalty.

Major farm building insurers in Australia include WFI, Elders Insurance, QBE, CGU, Zurich and Hollard. Each has different strengths depending on property type, location and farm size. At Shielded, we compare options across these insurers to find the right cover and pricing for your 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.