Farm machinery can represent a major investment and keep essential jobs on schedule. When comparing insurance, look beyond the premium and check how each policy treats your equipment in real working conditions. Make a current inventory, then consider what you own, who operates it, where it goes, how it is stored, and what could damage or disable it. Clear answers help you spot gaps and ask an insurance agent focused questions before choosing cover.
List the machinery you own
Start with a list of tractors, harvesters, implements, irrigation equipment, trailers, and other valuable items. Record each item’s make, model, year, serial number, and purchase price or current value where available. Include attachments and equipment bought secondhand. This inventory gives you a consistent basis for comparing quotes and can help speed up a claim if machinery is damaged or stolen.
Ask how the policy defines insured machinery and whether it covers attachments, accessories, and equipment acquired during the policy period. Check whether items must be listed individually or can be covered under a group limit. Confirm how the insurer assesses value after a loss, and whether the stated amount reflects replacement cost, market value, or another basis. Keep receipts, photographs, and maintenance records with your inventory.
Match cover to how you work
Describe where and how you use each machine. Consider whether it stays on your property, travels between paddocks, works on leased land, or is taken to another farm for contract work. Ask whether the policy covers road travel, loading and unloading, and work away from your main location. If employees, family members, or contractors operate machinery, check who is permitted to use it and whether any training or licensing conditions apply.
Consider the kinds of incidents that could stop work: collision, overturning, fire, storm damage, theft, or accidental damage during operation. Then check which events the policy covers and what exclusions or limits apply. Machinery breakdown may be treated differently from sudden accidental damage, so ask specifically about mechanical or electrical failure. Also check whether the policy helps with recovery or removal costs if a machine becomes immobilized.
Check storage and security conditions
Review where machinery is kept when it is not in use: a locked shed, an open-sided structure, a yard, or a field. Ask whether cover changes by location or depends on particular security measures, such as locked buildings, immobilizers, or documented key control. Check how the policy treats equipment left unattended, stored off-site, or kept at a temporary work location. Make sure the insurer has accurate details about storage arrangements.
Think through local and site-specific exposures, including storms, flooding, bushfire, falling branches, and theft from isolated areas. Ask whether machinery is covered while being moved, cleaned, serviced, or repaired, and whether it must be protected against weather when practical. If the policy requires reasonable precautions, ask what those mean for your farm. Clear, workable conditions are easier to follow and help avoid uncertainty after a loss.
Compare limits, excesses, and claims
Compare more than the headline premium. Check the insured amounts, per-item limits, total policy limits, excesses, and any special conditions. Ask whether a claim reduces cover for the rest of the policy period and whether multiple machines damaged in one event are subject to one excess or more than one. If replacement machinery would be difficult to source during a busy season, ask whether the policy offers any support for hire or temporary replacement equipment.
Before choosing, request plain-language explanations of exclusions and claim steps. Find out what evidence you would need, how soon damage must be reported, and whether repairs require approval before work begins. Keep the policy schedule beside your inventory and update both after purchases, sales, or changes in use. Perth Farm Cover can help you frame questions when comparing options, but make sure the selected policy matches your actual equipment and work.
The right machinery cover starts with an accurate inventory and an honest picture of how equipment is used, stored, and moved. Compare policy wording, limits, excesses, and claim conditions alongside the premium, then confirm any uncertain details before taking out cover. If you need help preparing questions for a comparison, contact an insurance agent.