Elders Insurance urges farmers to prepare as claims data reveals summer storm risks

Elders Insurance is urging farmers to prepare for another damaging summer, with claims data^[1] revealing the scale and financial impact of storm activity across Australia’s agricultural regions.  

Analysis of storm-related farm insurance property claims over the last 2 years (January 2023 – August 2025) showed summer accounts for the highest number of claims nationally. The 2023–2024 summer months alone accounted for nearly half (48%) of all claims over the 12-month period (December 2023 to November 2024)^[2]. The 2024–2025 period (December 2024 to August 2025) is tracking similarly, with 48% of claims to date lodged during the summer months.^[3]

Key findings:

• Rising costs: Claims paid totalled approximately $15.4 million in 2024, more than double the $6 million paid in 2023. The average cost per claim during the 2024–2025 summer was approximately $7,000.
  
  
• Infrastructure hit hardest: The most common claims made 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 39% and 35% of lodged claims respectively, followed by Victoria (12%) and Western Australia (8%)^[4].

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

“Any storm damage to sheds, fencing, or machinery can bring operations to a standstill. Farmers tend to work to tight seasonal windows, and losing critical infrastructure during peak production can create a domino effect on productivity and profitability. That’s why preparation is essential before summer storm activity intensifies,” said Mr Gleeson.

Regional impact highlights^[5]:

• New South Wales: The Hunter Valley, Central West, Riverina, and Murray were hardest hit in the 2023–2024 summer, while severe impacts in summer 2024–2025 concentrated in New England, South West Slopes, and Riverina, which remained a key hotspot.
  
  

• Queensland: Wide Bay–Burnett, Darling Downs, and North Queensland were most affected in summer 2023–2024, with North Queensland and Wide Bay–Burnett continuing to experience significant damage in summer 2024–2025, particularly around Townsville and Hinchinbrook.

• Victoria: Northeast Victoria bore the brunt of storm damage across both summer periods, with Wodonga, Wangaratta, and the Alpine region among the hardest-hit areas.

• Western Australia: Perth Hills remained a major hotspot in both summer periods, while the Pilbara region, including Port Hedland, emerged as a significant area of impact in the 2024–2025 summer period.

Customer perspectives

Insights from a small group of Elders Insurance broadacre farm customers^[6] also highlighted some of the challenges farmers face as the summer harvest season approaches. Almost all those surveyed (90%) ranked weather-related events as their top concern, ahead of market volatility and machinery failure. Nearly half also state they do not have a contingency plan for major disruptions, underscoring the need for proactive planning before summer storms hit.

“Farmers know storms can stop operations in their tracks,” said Mr Gleeson. “It’s not just about repairing damage – it’s about keeping business moving when sheds, fencing, or machinery are out of action. A plan can make all the difference during peak production.”

Elders Insurance has prepared the following to help farmers prepare and help reduce risk:

• Check your roof: Inspect for leaks, loose tiles, metal sheets, eaves, and screws. Clear gutters, downpipes, and drains regularly to prevent blockages and improve storm resilience.
  
  
• Inspect and maintain fencing: Pay close attention to vulnerable sections near trees or watercourses.
  
  
• Protect solar infrastructure: Ensure panels and inverters are securely mounted and fitted with surge protection.
  
  
• Check water tanks and pumps: Anchor tanks by filling with water and inspect electrical components to improve storm resilience.
  
  
• Prepare sandbags: Especially in flood-prone areas, to help safeguard homes and sheds.
  
  
• Have a contingency plan: Identify backup suppliers, alternative storage options, and emergency contacts to keep operations moving if severe weather causes major disruptions.
  
  
• Document assets: Take photos and keep records of machinery, infrastructure, and livestock to support faster claims processing.
  
  
• Review insurance policies: Think about the sum insured and whether it reflects current replacement costs.

For more information or to speak with your local Elders Insurance agent, visit https://www.eldersinsurance.com.au/

For media enquiries, please contact:

Alyssia El Gawly
External Communications Lead

Phone 61 432 264 700
Email: alyssia.elgawly@qbe.com

_{[1] The claims data referenced in this article relates to Elders Insurance Farm Insurance policyholders for Farm Property who held policies between January 2023 and August 2025 (the “Period”).  The total number of storm related farm claims lodged nationally for the Period totals 20,719 but does not mean all these claims were accepted and paid by QBE Insurance (Australia) Ltd (ABN 78 003 191 035, AFSL 239545) (“the Insurer”). The claims paid referred to in this article reflects amounts paid for the Period only on accepted and closed claims only and does not include open or pending claims for the Period. Paid claim figures for the Period may differ from claim amounts lodged for the Period due to policy coverage terms and claim acceptance.}

_{[2] 4,407 claims between December 2023 and February 2024, and 9,246 claims between December 2023 and November 2024.}

_{[3] 2,911 claims between December 2024 and February 2025, and 6,093 claims between December 2024 and August 2025.}

_{[4] Based on 3,084 total claims lodged between December 2024 and February 2025 (NSW: 1,203; QLD: 1,096; VIC: 387; WA: 254).}

_{[5] Claims lodged during the 2023–2024 and 2024–2025 summer periods across Australia.}

_{[6] Insights captured from an Elders Insurance survey of 25 Elders Insurance broadacre farm customers, September 2025.}

_{About Elders Insurance}

_{Elders Insurance is one of Australia’s leading regional and rural insurance providers, offering cover backed by over 100 years of experience. With a national network of Agents who live and work in their local communities, Elders Insurance delivers service and support when it matters most. Elders Insurance (Underwriting Agency) Pty Limited (ABN 56 138 879 026, AFSL 340965) distributes these products on behalf of QBE Insurance (Australia) Limited (ABN 78 003 191 035, AFSL 239545), the product issuer.}

_Disclaimer

_{Elders Insurance (Underwriting Agency) Pty Ltd, (ABN 56 138 879 026, AFSL 340965), acting under its own AFSL, distributes Elders Insurance products on behalf of the Insurer. The advice that we provide is general only and has been prepared without taking into account your objectives, financial situation or needs and may not be right for you. Please visit www.eldersinsurance.com.au to consider the relevant Product Disclosure Statement and the relevant Target Market Determination to decide if the product is right for you.}