Between January 2023 and November 2025, the summer period saw a significant spike in claims, with the 2023-2024 summer alone representing 47% of the total claims for that year. This pattern continued into the 2024-2025 summer, which accounted for 41% of claims to date.
The financial impact has been substantial. In 2024, claims paid out totaled 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, with summer claims constituting about 53% of the total payouts over the 12-month period.
Critical farm infrastructure has been hit hardest, with the most common claims involving damage to sheds, fencing, solar panels, and immobile machinery. These assets are vital to farm operations and can take months to repair or replace, leading to prolonged disruptions.
Geographically, New South Wales and Queensland bore the brunt of storm damage during the 2024-2025 summer, accounting for 35% and 30% of lodged claims, respectively. Victoria and Western Australia also experienced significant impacts, with 15% and 11% of claims, respectively.
Dale Gleeson, General Manager at Elders Insurance, emphasized the importance of proactive planning. He noted that storm activity typically peaks over summer, and such events can be incredibly costly and disruptive for farmers. Gleeson advised farmers to review their insurance coverage, ensure that critical assets are adequately protected, and develop contingency plans to mitigate potential losses.
Insights from a small group of Elders Insurance broadacre farm customers highlighted that nearly all respondents ranked weather-related events as their top concern, ahead of market volatility and machinery failure. Alarmingly, nearly half stated they do not have a contingency plan for major disruptions, underscoring the need for proactive planning before summer storms hit.
Farmers are encouraged to take the following steps to prepare for the upcoming storm season:
- Review and update insurance policies to ensure comprehensive coverage.
- Conduct thorough inspections of farm infrastructure to identify and address vulnerabilities.
- Develop and implement contingency plans to maintain operations during and after storm events.
- Stay informed about weather forecasts and heed warnings from meteorological services.
By taking these proactive measures, farmers can better safeguard their operations against the increasing risks posed by summer storms.
