Farming is a rewarding but unpredictable business. With weather extremes, machinery breakdowns, and rising costs, farmers face a unique set of risks. 

This is why farm insurance is not just a safety net—it’s a vital part of running a successful agricultural operation. But insurance isn’t just about reacting to disasters. Proactive maintenance and strong broker or adviser relationships can go a long way in preventing claim events and making sure you’re covered when you need it most.

Farm insurance policies are tailored to suit the nature and scale of individual farms. They typically cover a range of assets such as farm dwellings, machinery, vehicles, livestock, silos, produce, sheds, and fencing. Other key components can include business interruption cover, liability cover (in case someone is injured on your property), and crop protection. However, not all policies are the same; understanding what is and isn’t covered is critical.

A commonly overlooked but essential part of a farm insurance policy is fencing. Fences aren’t just boundary markers—they’re critical infrastructure. They keep livestock safe, protect crops, and maintain neighbourly relations. Yet, storms, fire, falling trees, and animal impact can all damage fences, leading to both financial loss and operational headaches. Including fencing in your policy can save thousands in unexpected repairs. You should always clarify whether your policy covers full replacement or only partial repairs.

Of course, insurance should never be your first line of defence—preventative maintenance is. Maintaining your infrastructure, equipment, and property reduces the likelihood of breakdowns and disasters. Insurance companies value risk-conscious farmers and often reward this approach with better premiums and faster claim processes. Fire safety measures like clearing vegetation, maintaining firebreaks, and checking pumps and hoses are especially vital in bushfire-prone regions.

Equally important is building a strong relationship with your insurance broker or adviser. Think of your broker or adviser as part of your business team. They should understand the ins and outs of your farm, help you avoid underinsurance, and make sure your coverage evolves as your farm grows or changes. They’re also your best advocate if a claim is made—saving you time, stress, and often money.

Top 10 Farm Insurance and Maintenance Tips

1. Review your policy annually. Farms evolve quickly—update your insurance to reflect new buildings, equipment, or stock levels.
2. Include fencing cover. Confirm what types of fencing are included and whether the cover reflects full replacement costs.
3. Keep detailed records. Document all maintenance, upgrades, and repairs. This helps justify claims and shows responsible farm management.
4. Schedule regular inspections. Walk your property to check for structural issues, wear and tear, or storm damage—especially after major weather events.
5. Maintain firebreaks and clear vegetation. Reduce bushfire risk by keeping paddocks, sheds, and fence lines tidy.
6. Check machinery and equipment. Regularly service tractors, pumps, and generators. Breakdowns can cause bigger problems and may not be covered if due to neglect.
7. Secure your property. Keep gates locked and install basic security measures to deter theft and vandalism.
8. Understand exclusions. Know what isn’t covered, such as gradual wear or unmaintained equipment, so you’re not caught out.
9. Bundle and tailor your policies. Work with your broker or adviser to create a cost-effective package that suits your specific farming operation.
10. Build a relationship with your broker or adviser. Don’t just call them at renewal time. Keep them updated on changes to your farm, ask questions, and involve them in planning.

In conclusion, farm insurance isn’t just about paying a premium and forgetting about it. It’s about building a smart protection strategy that combines proper coverage, preventive care, and expert advice. By taking a proactive approach, you can reduce risks, manage costs, and protect your livelihood for the long haul.

If this article has inspired you to think about your unique situation and, more importantly, what you and your family are going through right now, please get in touch with your advice professional.

This information does not consider any person’s objectives, financial situation, or needs. Before making a decision, you should consider whether it is appropriate in light of your particular objectives, financial situation, or needs.

(Feedsy Exclusive)