Farm Insurance at a Glance
Working on the land brings many rewards – but just as many risks. As a farm owner, you are vulnerable to bushfires that can destroy livestock or damage your buildings and other property; machinery breakdown which can cost you time and money; personal illness or a serious accident; or even a claim from a guest injured on your property.
That’s why 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?
Whether you’re a large-scale crop grower, a livestock producer, or a small family or hobby farm, farm insurance can help protect your farm, its produce and livestock – and the people who benefit from it.
What can farm insurance cover?
Farm insurance can be tailored to cover your home and farm buildings, livestock, vehicles, equipment and more. It can also safeguard you against theft and loss of income, for example, a typical Steadfast farm pack can cover:
Domestic property and belongings from defined events or accidental damage. Cover may include buildings, contents, personal effects, legal liability and/or domestic workers compensation.
Physical loss or damage to farm property caused by defined or accidental events.
Public & Products Liability
Claims by third parties for personal injury and/or property damage and/or legal costs in connection with the farming business.
Accident & Sickness Cover
Regular payments to help keep your business running if you’re injured or fall ill.
Death or loss of livestock due to specified events.
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 your insurer. Policies generally won’t include cover for:
- Loss or damage to property caused by gradual deterioration or wear and tear
- Loss caused by earth movement unless the earth movements occur within 72 hours of certain events
- Damage caused by tenants unless the risk is accepted by the insurers