Farm Insurance
Farm insurance can help protect your farm and its produce, and the wellbeing of you, your family and the people that pass through your property.
What is farm insurance?
Farming brings many rewards but there are just as many risks. As a farm owner, there are many ways you are vulnerable – bushfires that can destroy crops, livestock or damage your buildings and other property; machinery breakdown which can cost you time and money; personal illness or serious accident; or even a claim from a visitor injured on your property.
Farm insurance can help protect your farm and its produce, and the wellbeing of you, your family and the people that pass through your property.
Who should consider farm insurance?
Farm insurance is recommended for small family or hobby farms to large scale crop growers or live-stock producers.
What can farm insurance cover?
Farm insurance vary in the benefits they provide. Your Westphalian insurance broker can help you find the right product tailored to suit your farm’s needs. Depending on your policy, farm insurance may cover you against:
Type of cover | Potential benefits |
Home property | Domestic property and belongings from defined events or accidental damage. Cover may include buildings, personal effects, contents, legal liability and/or domestic workers compensation cover. |
Farm property | Physical loss or damage to farm property caused by defined events or accidental damage. |
Public and product liability | Claims by third parties for personal injury and/or property damage and/or legal costs in connection with the farming business. |
Accident and sickness cover | Regular payments to help keep your business running if you are ill or injured. |
Livestock | Death or loss of livestock due to specified events |
Machinery breakdown | Damage to electrical and mechanical machinery, boilers and pressure vessels for loss or damage caused by breakdown. |
What usually isn't covered by farm insurance?
Exclusions, the excess you need to pay and limits of liability can vary greatly depending on the nature of the product you are purchasing, the associated risk, the insurer and the requirements of your business.
Policies generally do not include cover for:
- Loss or damage to property caused by gradual deterioration or wear and tear
- Flood
- Loss caused by earth movement unless the earth movement occurs within 72 hours of certain events
- Damage caused by tenants unless risk is accepted by the insurer
Farm insurance involves a variety of different policies and there are exclusions which are specific to each type of policy which your Westphalian insurance broker can outline for you.