Multi Peril Crop Insurance is a new concept to many farmers. Below is a list of Frequently Asked Questions that you might find useful. Click on each question and you’ll see the answers appear below it.
A Multi Peril Crop Insurance policy covers loss or damage to broadacre crops as the result of the occurrence of one or more of the following name perils during the period of insurance:
Drought, water stress, heat stress, flood hailstones, wind, frost, lightning, excessive rain, snow, hurricane, cyclone, tornado, wildlife, wandering livestock, accidental fire, bushfire and weed infestation, chemical overspray, insect or pest manifestation or plant disease out of reasonable control.
Wheat, barley, canola, lupins, chickpeas, lentils, faba beans, field peas, vetch, linseed, triticale, oats, hay, and rye.
Step 1: To start the process complete the Multi Peril Crop Insurance Indicitive Quote Request. This will take about 2 minutes.
Step 2: One of the Farmers First team will be back to you as soon as possible with indicative coverage and price.
Step 3: From there if you wish to move forward to a formal quote your Farmers First representative will guide you through the application process.
Please note that a charge can apply for completing the application process. That one-off fee can range from $0 up to $5000 + GST , depending on the MPCI underwriter selected. The one-off fee is eligible for a 50% rebate up to $2,500 through the Federal Government’s Managing Farm Risk Programme.
If you suffer a peril(s) event and believe you may need to trigger a claim, immediately contact your Farmers First representative and they will liaise with the underwriter.
The claims process is straightforward and it requires a proof of peril(s) and then a quantum adjustment for the difference between the insured farm revenue amount and the amount of actual farm revenue achieved.