Farm Flood Insurance

Flood cover costs depend heavily on location and risk rating. For properties in low-risk areas, flood cover may add only $500 to $1,500 to the annual premium. For properties near rivers or on floodplains, the flood component can range from $3,000 to $15,000 or more. Some high-risk properties face flood premiums that exceed the rest of the farm policy combined. Contact Shielded for a quote.

Storm damage covers wind, rain, hail and stormwater runoff. Flood specifically refers to the overflowing of a river, creek, dam or other body of water. A property can sustain water damage from a storm (covered under storm) without experiencing flood (which requires separate flood cover). The distinction is critical and has been the basis of many disputed claims.

Yes, though options may be limited and premiums higher. Properties with a history of flood claims are considered higher risk by all insurers. Working with a broker like Shielded gives you access to multiple insurers, some of which may offer more competitive terms than others for previously flooded properties.

Yes. Fencing damaged or destroyed by flood is covered when flood cover is included in your policy. Flood is particularly destructive to creek-line and boundary fencing. Ensure your fencing sum insured and sub-limits are adequate, as fencing replacement after flood can be one of the largest costs.

Livestock death from drowning is typically covered under the livestock section of a farm policy if flood cover is active. However, insurers expect farmers to take reasonable steps to move stock to higher ground when flood warnings are issued. Failure to take reasonable precautions could affect a claim.

A flood excess is the amount you pay out of pocket before the insurer covers the remainder of a flood claim. Flood excesses are typically higher than standard excesses, ranging from $2,500 to $25,000 depending on the insurer and your property's risk rating. Some policies apply the flood excess per building rather than per event, which can multiply your out-of-pocket cost.

WFI, Elders Insurance, QBE, CGU, Zurich and Hollard all offer farm policies that can include flood cover, but their pricing and willingness to cover flood-prone properties varies significantly. At Shielded, we compare flood cover options across our insurer panel to find the best available terms for your property.

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.