Farmers to get help with their finances

The government is putting $5.9 million into helping farmers around the country deal with debt stress.

This funding boost is all part of Prime Minister Kevin Rudd's Farm Finance Package, and will go toward paying 17 full-time rural financial counsellors.

Joel Fitzgibbon, minister for agriculture, fisheries and forestry, said in a July 25 statement that the counsellors would be focusing on regions where farmers have been heavily impacted by natural disasters and are facing financial crises.

If you want to avoid finding yourself in this situation when Mother Nature strikes, you may want to consider getting some form of farm insurance.

If you organise your policy with Elders Insurance, we can cover you for lightning or thunderbolt damage to your home, contents and farm property.

In addition to this, you can organise cover for fire, smoke and explosions; earthquakes and tsunamis; storm, rainwater or wind (but not flood); as well as the impact from objects such as falling trees.

Of course, Mother Nature isn't the only thing that could damage your farm and cause it to be out of action. Theft and other malicious acts, power surges and broken glass could also put a spanner in the works of your day-to-day operations.

A comprehensive farm insurance plan will make sure this spanner is only a temporary inconvenience.

Mr Fitzgibbon said that he knows many farm businesses are "doing it tough" at the moment, and believes financial counselling services will help them to better manage their debt and alleviate the financial pressure they're under.

The $5.9 million will be paid out over two years, providing Queensland, New South Wales, Victoria, Tasmania, South Australia and Western Australia with more rural financial counsellors.

Elders Insurance has agents located all over the country, too, who are ready and willing to offer you advice about your insurance options. Contact your local agent today.