Farm Package Insurance

A farm package bundles property, machinery, livestock, liability, motor and business interruption into one policy with one insurer. Separate policies mean each cover is purchased individually, potentially from different insurers. The package approach reduces the risk of coverage gaps, simplifies administration and typically costs less overall.

Yes. Most farm packages include the homestead (main dwelling) alongside farm buildings, sheds and other structures under the property section. This means you do not need a separate home insurance policy. Ensure the homestead sum insured reflects current rebuilding costs including demolition, council fees and any heritage considerations.

Some farm packages offer limited crop cover for stored produce (grain in silos, hay in sheds) and growing crops against fire. However, comprehensive multi-peril crop insurance (MPCI) covering frost, hail, drought and other perils is typically a specialist standalone product and is not standard in most farm packages.

Yes. Farm packages are modular. You can include or exclude sections based on your needs. However, most insurers require a minimum combination, usually property and liability, as the core of the package. Optional sections like motor, livestock, business interruption and breakdown can be added as needed.

If a single event (such as a bushfire) triggers claims across property, machinery, livestock and fencing, many farm packages apply a single event excess rather than separate excesses for each section. This is one of the key advantages of bundling your covers. Check the excess structure with your broker, as it varies between insurers.

At a minimum, review your policy at each annual renewal. However, you should also contact your broker whenever you acquire new assets (machinery, buildings, livestock), change farming activities, or make significant property improvements during the year. Failing to update the policy mid-term can lead to underinsurance.

Major farm package insurers include WFI, QBE, CGU, Elders Insurance, Zurich and Hollard. Each structures their package differently with varying sections, sub-limits and optional extensions. At Shielded, we compare packages across these insurers to build a policy that fits your operation and budget.

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.