Insurance

Insurance Products for Farmers
Farm Insurers

Many different types of insurance are available and, like investment strategies, your personal circumstances will mean that you may need an insurance package tailored to your needs. Consider going through an insurance agent or broker, however some are connected to a particular insurance company, and although others are independent they may tend to favour one company. Therefore it is advisable to talk to at least three agents and go with whichever can give you the best package at the best price. It is worthwhile telling each agent that you are seeing others so they will give you their best deal. A comprehensive list of insurers that cater for the rural sector with specific "Farm Cover" can be found at the Information website at www.infarmation.com.au.

The following lists types of farm-related insurance cover offered in Australia that is suitable for natural disasters. The descriptions are in abbreviated form and you should contact the insurance agents directly to confirm any details. It is always worthwhile contacting your current insurance broker to see if they offer insurance that covers natural disasters – even if they don’t, at least they’ll know there are farmers asking for it and so they are more likely to offer it in the future. The following list does not include standard types of farm insurance that are unrelated to natural disasters such as:

- Residential and commercial buildings
- Motor vehicle/s
- Boat
- Public liability
- Farm property
- Personal accident and illness
- Transit cover
- Machinery breakdown
- Theft
- Working dogs
- Wet sheep
- Frozen semen and embryos

Crop Insurance

Provides cover for the following:
- Reducing excess
- Straying stock cover
- Re-sowing subsidy
- Revision of yield
- Agreed value
- Deferred payments
- Automatic renewal
- Fire
- Fire and Hail

Livestock Insurance

Provides cover for the following:
- Death due to an accident
- Death due to an illness or disease
- Loss of use due to an accident
- Loss of use due to an illness
- Theft

Farm Insurers

Many Australian insurance firms offer specialised insurance for farmers and other primary producers. Some examples of these are listed below, and it is always good practice to shop around from time to time to compare the offers from several different providers. A good selection of insurance providers is listed on the inFARMation website (www.infarmation.com.au).

Wideland Insurance Brokers offer a complete range of tailored insurance services including farm insurance and crop insurance.
Phone: 1800 628 896
Web: http://www.wideland.com.au/

Wesfarmers Landmark offer a wide range of insurance packages for primary producers.
Phone: Local phone numbers available via phone book or Web: www.landmark.com.au

Elders Insurance is the largest rural insurance provider in Australia and offers a wide range of insurance packages for primary producers.
Phone: Local phone numbers available via phone book or website
Web: http://www2.elders.com.au/enquiry.php

Rural and Crop Insurance offers livestock and crop insurance.
Phone: 1800 804 622
Web: http://www.infarmation.com.au/rwa/

CGU offers a range of rural insurance products
Phone: 1300 362 893
Web: http://www.cgu.com.au/

The NRMA group comprises SGIO, SGIC and NRMA Insurances and offers insurance products specifically for primary producers.
Phone (SGIO and SGIC): 133 233
Phone (NRMA): 132 132
Web: http://www.sgio.com.au/
http://www.sgic.com.au/
http://www.nrma.com.au/