Running a farm means managing risk every day — from unpredictable weather to machinery breakdowns and everything in between.
While you can’t control every variable, you can make sure your insurance is set up to support your business when things don’t go to plan.
As we move through the financial year, it’s a good time to step back and ask a simple question: Does your current cover still reflect how your farm operates today?
Why Rural Insurance Matters More Than Ever
Farming has always come with risk, but the landscape is changing.
Weather events are becoming more frequent and less predictable
Replacement costs for machinery and buildings continue to rise
Many farms are diversifying income streams, adding complexity
What worked even a few years ago may no longer be enough. A regular review helps ensure your cover keeps pace with your operation.
The Core Types of Rural Insurance Cover
A well-structured rural insurance programme usually includes a mix of personal, asset, and business protection.
Personal & Key Person Cover
For many farms, a small number of people carry most of the workload. If you or a key team member can’t work due to illness or injury, the financial impact can be immediate. Cover options may include:
Life insurance
Trauma cover
Total and permanent disability cover
Income protection to support cashflow
Asset Protection
Your farm assets are the backbone of your business.
It’s important to ensure:
Machinery and plant are insured at current replacement value
Buildings, sheds, and infrastructure are fully declared
Irrigation, fencing, and supporting systems are included
Even small gaps here can become significant at claim time.
Livestock Insurance
Livestock is often one of the most valuable and vulnerable parts of a farming operation. Key considerations:
Are stock numbers up to date?
Are values aligned with current market rates?
Do you have appropriate cover for mortality or specified events?
Liability Cover
Farms today involve more people than ever — contractors, visitors, suppliers, and sometimes paying guests.
Liability insurance helps protect you if something goes wrong and a claim is made against your business.
Common Gaps We See on Farms
One of the most common issues we come across is cover that hasn’t kept up with change. This might look like:
Equipment that’s been upgraded but not updated on the policy
Infrastructure that hasn’t been declared
Stock values that no longer reflect reality
Liability limits that don’t match current exposure
These gaps often only come to light when a claim is made — which is the worst time to find them.
When Should You Review Your Cover
A review doesn’t need to be complicated, but it should happen regularly. We recommend checking in when:
You’ve purchased or upgraded equipment
Your operation has expanded or diversified
You’ve taken on staff or contractors
There have been changes in ownership or structure
It’s been more than 12 months since your last review
A Practical Approach to Getting It Right
Rural insurance isn’t about ticking boxes — it’s about making sure your cover reflects how your farm actually runs.
At Carricks, we work alongside you to:
Identify gaps and overlaps
Align cover with your current operation
Make sure you understand what is (and isn’t) covered
If it’s been a while since your last review, or things have changed on the farm, now’s a good time to revisit your cover.
Let’s make sure your insurance is working as hard as you are.
