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Farm Insurance Australia Financial Calculators

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Insurance News

Asgard Announces Significant Hike in Insurance Premiums Asgard Announces Significant Hike in Insurance Premiums
16 May 2025: Paige Estritori

Asgard, the investment platform owned by Westpac, has announced substantial increases in insurance premium rates, ranging from 0.7% to 94.6%. This decision comes in collaboration with AIA Australia following a review of its insurance offerings. The changes, which will affect clients with Asgard Personal Protection Packages, are attributed to rising costs, including claims expenses. - read more
ClearView Transitions to Pure-Play Life Insurance, Emphasizes IFA Ties ClearView Transitions to Pure-Play Life Insurance, Emphasizes IFA Ties
14 May 2025: Paige Estritori

ClearView, a publicly-listed insurer, has reaffirmed its commitment as a 'pure play life insurance company' following its strategic exit from the wealth management sector. This transition, finalized in March 2025, completes a multi-year effort pivoting the company towards becoming a technologically advanced life insurance firm. - read more
Life Insurance Prevails as a Financial Priority Despite Economic Strains Life Insurance Prevails as a Financial Priority Despite Economic Strains
13 May 2025: Paige Estritori

Amid ongoing economic challenges, Australians continue to prioritise life insurance, often at the expense of other budgetary items such as holidays, entertainment, and even groceries. This trend is highlighted in an annual survey conducted by NobleOak, which reveals a noticeable rise in life insurance and income protection policies. - read more
Call for Stricter Timelines on Insurance Claims and Renewals Call for Stricter Timelines on Insurance Claims and Renewals
06 May 2025: Paige Estritori

The Insurance Brokers Code Compliance Committee is advocating for significant changes to improve transparency and clarity in their industry standards, amidst ongoing reviews of the National Insurance Brokers Association (NIBA) code. This call to action coincides with the recent closure of feedback collection from stakeholders, setting the stage for a draft report expected next month. - read more
Insurers Under Scrutiny for Response to Alfred Flood Claims Insurers Under Scrutiny for Response to Alfred Flood Claims
05 May 2025: Paige Estritori

In a recent development, Queensland MP David Lee has raised concerns about how insurance companies are addressing claims following the devastating floods caused by Ex-Tropical Cyclone Alfred. Businesses in Hervey Bay, a region heavily impacted by the floods, report facing significant hurdles in having their damage claims recognized. - read more
AFCA Rules Against Engine Theft Coverage in Motor Policy Dispute AFCA Rules Against Engine Theft Coverage in Motor Policy Dispute
04 May 2025: Paige Estritori

An applicant's attempt to claim insurance coverage after the theft of an engine designated for his 1993 Nissan Skyline has been denied. Despite holding a comprehensive motor policy with IAG, the insured's claim was rejected after multiple engines were stolen in a brazen ram-raid at his vehicle repairer's workshop in November 2023, prompting an appeal to the Australian Financial Complaints Authority (AFCA). - read more
ACCC Strengthens Position Against Broker Commissions ACCC Strengthens Position Against Broker Commissions
02 May 2025: Paige Estritori

In a recent submission to the professional code of practice review, the Australian Competition and Consumer Commission (ACCC) has reiterated its position against broker commissions. Echoing findings from its 2020 Northern Australia Insurance Inquiry, the ACCC advocates for extending the ban on conflicted remuneration to include brokers. - read more
Partial Settlement Reached in Homeowner's 'Slow Leak' Insurance Dispute Partial Settlement Reached in Homeowner's 'Slow Leak' Insurance Dispute
01 May 2025: Paige Estritori

A recent ruling by the Australian Financial Complaints Authority (AFCA) has determined that Auto & General Services must cover a portion of a homeowner's insurance claim related to long-term water damage caused by a leaking pipe. The decision comes after a protracted dispute regarding the coverage of damages arising from a leak that reportedly developed over 12 months, spanning both before and during the insurance policy period. - read more
AFCA Supports Insurer's Decision in Ex-Spouse Death Dispute AFCA Supports Insurer's Decision in Ex-Spouse Death Dispute
30 Apr 2025: Paige Estritori

In an intriguing case involving travel insurance and familial ties, a woman's claim for travel costs upon the death of her ex-husband has been rejected. While she returned abruptly from her vacation to support her family, Nib Travel Services (Australia) deemed her claim outside of coverage parameters. - read more
New Water Restoration Standard Revolutionises Claims Handling in Australia New Water Restoration Standard Revolutionises Claims Handling in Australia
30 Apr 2025: Paige Estritori

A recently introduced Australian standard is set to transform the landscape of water damage restoration, enhancing consistency and quality in claims handling while bolstering consumer protection. This development, according to industry professional Jeremy Stamkos, Managing Director of RIC Solutions and chair of the Standards Australia committee, positions the sector at the forefront of global best practices. - read more

Farm Insurance Articles

Agroforestry Insurance Guide: Protecting Your Investment in Australia's Sustainable Future Agroforestry Insurance Guide: Protecting Your Investment in Australia's Sustainable Future
Agroforestry is a transformative approach to land management that integrates trees into agricultural landscapes. In Australia, where farmers contend with variable climates and environmental challenges, agroforestry offers a resilient pathway to productivity and sustainability. - read more
Investing in Your Farm's Legacy: Estate Planning and Farm Insurance Combined Investing in Your Farm's Legacy: Estate Planning and Farm Insurance Combined
Farming is much more than an occupation; it's a way of life and a heritage that often spans generations. In today's ever-evolving agricultural landscape, embracing modern practices while preserving your farm's future has never been more crucial. Estate planning emerges as a pivotal strategy for safeguarding your agricultural legacy, ensuring that your hard-earned investments and the land you hold dear are passed on according to your wishes. - read more
Risk Management and Insurance Options for Farmers Risk Management and Insurance Options for Farmers
Risk management is the practice of identifying, assessing, and prioritizing risks followed by coordinated efforts to minimize, monitor, and control the probability or impact of unfortunate events. In farming, risk management involves various strategies to protect the financial health and operational stability of the farm. - read more
A Farmer's Guide to Essential Farm Insurance Terminology A Farmer's Guide to Essential Farm Insurance Terminology
Farming is a vital industry in Australia, requiring significant investment in equipment, crops, livestock, and labour. As with any major investment, protecting it is crucial. That's where farm insurance comes in. - read more
The Modern Farmer's Checklist for Assessing Farm Equipment Insurance Needs The Modern Farmer's Checklist for Assessing Farm Equipment Insurance Needs
As the backbone of Australian agriculture, farm equipment plays an essential role in day-to-day operations across our expansive and diverse landscapes. From the vast wheat belts to the tropical fruit farms, machinery ensures efficiency and productivity in the face of constant challenges. But with reliance on such equipment comes significant risk—the financial burden of damage or loss can be devastating to a farmer's livelihood. - read more
Common Pitfalls to Avoid When Insuring Your Farm Equipment Common Pitfalls to Avoid When Insuring Your Farm Equipment
In the world of agriculture, having the right insurance coverage is essential. Farming is a high-risk industry that deals with unpredictable elements, and insuring your farm equipment can safeguard your livelihood. - read more
Future-Proofing the Farm: What Every Tech-Savvy Australian Farmer Needs to Know About Insurance Future-Proofing the Farm: What Every Tech-Savvy Australian Farmer Needs to Know About Insurance
Welcome to the first steps in future-proofing your farming legacy. When we think about the hustle and bustle of daily farm life, it's easy to overlook the critical importance of estate planning. For the Australian farmer, estate planning is not just a matter of securing your assets; it's about ensuring the survival and progression of your hard-earned labour to the next generation. - read more
From Droughts to Floods: Understanding Weather-Related Coverage in Farm Insurance From Droughts to Floods: Understanding Weather-Related Coverage in Farm Insurance
Australian farmers face a unique set of challenges due to the vast and varied climate conditions that sweep across the continent. From the scorching heat and prolonged droughts of the Outback to the tropical storms and torrential rains of the northern regions, weather-related risks are an integral part of agricultural life in Australia. - read more
Proven Strategies for Australian Farmers to Reduce Farm Insurance Premiums Proven Strategies for Australian Farmers to Reduce Farm Insurance Premiums
Welcome to our comprehensive guide on navigating the complexities of farm insurance for Australian farmers. As an integral part of the agricultural industry, insurance provides a safety net that helps secure the livelihood of farmers against unpredictable events that can lead to financial hardship. From property damage due to natural disasters to loss of livestock or crops, having adequate farm insurance can make all the difference in keeping a farming operation afloat in times of crisis. - read more
The Digital Farmer's Guide to Insuring Your Agribusiness in the Tech Age The Digital Farmer's Guide to Insuring Your Agribusiness in the Tech Age
Welcome to the defining era where technology and agriculture entwine, bringing forth the digital farmer's era. With the evolution of agribusiness in the tech age, comes an array of new tools, opportunities, and risks. As a custodian of the earth and steward of the latest innovations, safeguarding your digital farm is just as crucial as nurturing your crops and livestock. - read more
Agroforestry Insurance Guide: Protecting Your Investment in Australia's Sustainable Future Agroforestry Insurance Guide: Protecting Your Investment in Australia's Sustainable Future
Agroforestry is a transformative approach to land management that integrates trees into agricultural landscapes. In Australia, where farmers contend with variable climates and environmental challenges, agroforestry offers a resilient pathway to productivity and sustainability. - read more
Proven Strategies for Australian Farmers to Reduce Farm Insurance Premiums Proven Strategies for Australian Farmers to Reduce Farm Insurance Premiums
Welcome to our comprehensive guide on navigating the complexities of farm insurance for Australian farmers. As an integral part of the agricultural industry, insurance provides a safety net that helps secure the livelihood of farmers against unpredictable events that can lead to financial hardship. From property damage due to natural disasters to loss of livestock or crops, having adequate farm insurance can make all the difference in keeping a farming operation afloat in times of crisis. - read more
The Modern Farmer's Checklist for Assessing Farm Equipment Insurance Needs The Modern Farmer's Checklist for Assessing Farm Equipment Insurance Needs
As the backbone of Australian agriculture, farm equipment plays an essential role in day-to-day operations across our expansive and diverse landscapes. From the vast wheat belts to the tropical fruit farms, machinery ensures efficiency and productivity in the face of constant challenges. But with reliance on such equipment comes significant risk—the financial burden of damage or loss can be devastating to a farmer's livelihood. - read more
From Droughts to Floods: Understanding Weather-Related Coverage in Farm Insurance From Droughts to Floods: Understanding Weather-Related Coverage in Farm Insurance
Australian farmers face a unique set of challenges due to the vast and varied climate conditions that sweep across the continent. From the scorching heat and prolonged droughts of the Outback to the tropical storms and torrential rains of the northern regions, weather-related risks are an integral part of agricultural life in Australia. - read more
Farm Liability Insurance Costs vs. Benefits: Is It Worth It? Farm Liability Insurance Costs vs. Benefits: Is It Worth It?
Farm liability insurance is a type of coverage that protects farmers from financial losses due to legal claims and lawsuits. This insurance is crucial for safeguarding your farm against various liabilities that may arise from farm operations. - read more
Customized Insurance Solutions: The Advantage of Specialized Farm Brokers Customized Insurance Solutions: The Advantage of Specialized Farm Brokers
Farming in Australia is more than just a way of life; it is a critical sector that supports the nation’s economy and food supply. However, managing a farm comes with its own set of unique risks. From natural disasters to equipment failures, farmers face numerous challenges that can impact their livelihood. - read more
5 Essential Farm Insurance Policies Every Australian Farmer Needs 5 Essential Farm Insurance Policies Every Australian Farmer Needs
Farming in Australia is not just a job, it's a way of life. However, it’s also a livelihood that comes with its own unique set of risks. From unexpected weather events to machinery breakdowns, the life of an Australian farmer is fraught with uncertainties. - read more
The Digital Farmer's Guide to Insuring Your Agribusiness in the Tech Age The Digital Farmer's Guide to Insuring Your Agribusiness in the Tech Age
Welcome to the defining era where technology and agriculture entwine, bringing forth the digital farmer's era. With the evolution of agribusiness in the tech age, comes an array of new tools, opportunities, and risks. As a custodian of the earth and steward of the latest innovations, safeguarding your digital farm is just as crucial as nurturing your crops and livestock. - read more
Understanding Farm Equipment Insurance: A Breakdown for Australian Farmers Understanding Farm Equipment Insurance: A Breakdown for Australian Farmers
In the dynamic world of Australian agriculture, farm equipment plays a crucial role in the day-to-day operations of farms. From tractors to harvesters, having the right machinery means managing your farm more efficiently. However, the high value of this equipment makes it essential to protect it adequately through insurance. - read more
A Farmer's Guide to Essential Farm Insurance Terminology A Farmer's Guide to Essential Farm Insurance Terminology
Farming is a vital industry in Australia, requiring significant investment in equipment, crops, livestock, and labour. As with any major investment, protecting it is crucial. That's where farm insurance comes in. - read more

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Term Life Insurance:
A life insurance that provides a cover for a specific period of time - usually one to five years or until the insured reaches age 65 or 70.