Duty of Disclosure

Before you enter into a contract of insurance, you have a duty under the Insurance Contracts Act 1984 to disclose to your insurer every matter that you know, or could reasonably be expected to know, is relevant to the insurer’s decision whether to accept the risk and, if so, on what terms. The duty also applies when you renew, extend, vary or reinstate a contract of insurance.

You do not have to disclose anything that:

  • Reduces the risk to be undertaken by the insurer
  • Is common knowledge
  • Your insurer knows, or in the ordinary course of business, ought to know, or
  • The insurer has waived your obligation to disclose

 

If you do not comply with your duty of disclosure, your insurer may be entitled to reduce it’s liability in respect of a claim or may cancel your contract of insurance. If the non-disclosure was fraudulent, the insurer may be able to avoid (or cancel) the contract of insurance from its beginning.

Privacy Information

At Preserve Ag, We give priority to protecting the privacy of Your personal information. We do this by handling personal information in a responsible manner and in accordance with the Privacy Act 1988 (Cth).  We collect Your personal information to enable Us to review your insurance requirements and to research and determine products or services that may suit You, in our role as an insurance broker.  We may disclose Your personal information to others with whom We have business arrangements for the purposes listed above or to enable them to offer their products and services to You. These parties may include insurers, underwriting agencies, related companies,  persons involved in claims. Disclosure may also be made to the government, law enforcement, dispute resolution, statutory or regulatory bodies, or as required by law.

For further information about how we collect, use, disclose and manage your personal information please see our Privacy Policy below.

With Guest account, your proposal will be submitted but you will not be able to edit these information. You will receive confirmation via email about the status of proposal.

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Broadacre insurance

Hail & Fire
Fire Only

Cotton insurance

Hail & Fire
Fire Only

Policy Type

Insured Yields and Insured Values can be changed up until the final revision date.
After the final revision date the sum insured cannot be altered.

The final Sum Insured is based on the yield achieved by the crop at harvest.

A yield and sum insured is nominated at the start of the policy period. Changes to both the insured yield and insured value can be made up until the final revision date.

Some insurers place a cap and floor on the percentage difference that the harvested yield can difer from the yield at the final revision date for the purpose of calculating the sum insured either for a claim or for the final premium charged.

Loss of potential yield due to damage from hail and fire.

The addition of the quality option provides cover for the loss of quality to the harvested lint due to an insured event. There are a variety of options that are available for quality depending on the insurer

Additional Benefits Available

Loss of Potential Yield as a result of a third parties ground spraying application
Loss of Potential Yield as a result of a Livestock Intrustion from a third parties Livestock.
Cover for Stored Grain and Hay from insured crops
Loss of Grain or Hay from an insured crop whilst in transit
This additonal benefit cover additional expenses that may be incurred as a result of trying to minimise the loss from an insured event.

Where the refuge crop is a total loss and is required to be replanted this additional benefit covers the cost to replant the refuge crop.

Cover for Harvested crops whilst on your farm or in transit to the gin.
Loss of Potential Yield as a result of a third parties ground spraying application

Optional Benefits Available

In the event of a claim and the reducing excess option has been selected, the excess to apply to the claim reduces as the potential yield increases.
The insured value ($/tonne) that is selected at the start of the policy is locked in and can not be changed.
The market value of the crop type at harvest is used to determine the insured value ($/tonne)
With this option if no claim occurs your sum insured is based on your harvested yield per Ha, if a claim occurs the sum insured is calculated based on the potential yield. The maximum increase

Winter Broadacre

Summer Broadacre

Cotton

Policy Types and Covers Available