Preparing for Summer Storms: Insights from Elders Insurance on Protecting Your Farm

Analysis of storm-related farm insurance property claims over the last two years reveals that summer accounts for the highest number of claims nationally. The 2023-2024 summer months alone accounted for nearly half (47%) of all claims over the 12-month period. The 2024-2025 period tracked similarly, with 41% of claims to date lodged during the summer months.

Key findings include:

• Rising costs: Claims paid totalled approximately $92.14 million in 2024, close to double the $55.85 million paid in 2023. The average cost per claim during the 2024-2025 summer was approximately $24,000, with summer claims accounting for about 53% of the total paid over the 12-month period.
• Infrastructure hit hardest: The most common claims involved sheds, fencing, solar panels, and immobile machinery-critical assets that can take months to repair or replace.
• State hotspots: New South Wales and Queensland bore the brunt of storm damage in the 2024-2025 summer period, accounting for 35% and 30% of lodged claims respectively, followed by Victoria (15%) and Western Australia (11%).

Dale Gleeson, General Manager at Elders Insurance, stated, "Storm activity typically peaks over summer; those events can be incredibly costly and disruptive for farmers. The impact on operations and recovery can be significant, especially when critical infrastructure is hit."

To mitigate these risks, farmers are advised to:

• Inspect and maintain roofs to prevent leaks and structural damage.
• Secure loose items that could become projectiles during high winds.
• Review and update insurance policies to ensure adequate coverage.
• Develop contingency plans to maintain operations during and after storm events.

By taking proactive steps, farmers can better protect their assets and ensure the continuity of their operations during the challenging summer storm season.