Elders Insurance Highlights Increased Summer Storm Risks for Farmers

Analysis of storm-related farm insurance property claims over the past two years reveals that the summer months account for the highest number of claims nationally. In the 2023–2024 summer period alone, nearly half of all claims were lodged during these months. The subsequent 2024–2025 period exhibited a similar trend, with summer claims constituting a substantial portion of the total.

The financial impact of these storms is considerable. In 2024, claims paid out amounted to approximately $92.14 million, nearly doubling the $55.85 million paid in 2023. The average cost per claim during the 2024–2025 summer was around $24,000, highlighting the substantial burden on affected farmers.

Critical farm infrastructure has been particularly vulnerable, with common claims involving damage to sheds, fencing, solar panels, and immobile machinery. Such damages can disrupt operations for extended periods, especially when repairs or replacements are delayed due to high demand following widespread storm events.

Geographically, New South Wales and Queensland have borne the brunt of storm damage, accounting for 35% and 30% of lodged claims respectively during the 2024–2025 summer period. Victoria and Western Australia also reported significant impacts, with 15% and 11% of claims, respectively.

In light of these findings, Elders Insurance General Manager Dale Gleeson emphasised the importance of preparation: “Storm activity typically peaks over summer, and these 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 the risks associated with summer storms, farmers are advised to:

• Inspect and Maintain Infrastructure: Regularly check roofs, sheds, and fencing for vulnerabilities and address any issues promptly.
• Secure Machinery and Equipment: Ensure that all machinery is stored in protected areas and that loose items are secured to prevent damage or loss during storms.
• Review Insurance Coverage: Consult with insurance providers to confirm that policies adequately cover potential storm-related damages and that all assets are accurately listed.
• Develop Contingency Plans: Establish clear protocols for responding to storm warnings, including evacuation procedures for personnel and strategies for protecting livestock.

By taking these proactive steps, farmers can enhance their resilience against the adverse effects of summer storms, safeguarding their livelihoods and ensuring the continuity of their operations during the challenging summer months.