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Crop Insurance NZ 2026

Protect your harvest against weather, fire, and natural disasters. Compare crop insurance for wheat, barley, maize, peas, and vegetable crops from NZ's specialist rural insurers.

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Last Updated: 3 February 2026

New Zealand's arable sector produces over $1 billion in crops annually, from Canterbury's wheat and barley plains to Hawke's Bay's process vegetables. A single hailstorm, fire, or flood can destroy months of work and your season's income in hours.

Crop insurance protects your investment from planting to harvest. Whether you grow cereals, pulses, seeds, or vegetables, the right policy ensures a weather disaster doesn't become a financial disaster.

What Crop Insurance Covers

🔥

Fire & Smoke

Cover for crop loss due to fire, including stubble fires that spread, spontaneous combustion, and smoke damage to sensitive crops.

🌨️

Hail Damage

Protection against hail - one of the most common and destructive crop perils. A major hailstorm can destroy a standing crop in minutes.

🌊

Flood

Cover for flood damage to growing crops from river flooding or surface water. Important for low-lying paddocks and areas near waterways.

💨

Wind & Storm

Protection against severe wind events that can flatten standing grain crops, particularly important for tall crops like maize and wheat at maturity.

What's Typically Not Covered

  • • Drought or gradual moisture stress
  • • Frost damage (may be available as add-on)
  • • Disease and pest damage
  • • Poor yields due to weather conditions
  • • Price fluctuations after harvest

Crops We Can Help Insure

Cereals & Grains

  • • Wheat (milling & feed)
  • • Barley (malting & feed)
  • • Oats
  • • Maize (grain & silage)
  • • Triticale

Pulses & Seeds

  • • Field peas
  • • Beans
  • • Lentils
  • • Ryegrass seed
  • • Clover seed

Vegetables

  • • Process peas & beans
  • • Potatoes
  • • Onions
  • • Sweetcorn
  • • Carrots & root vegetables

How Crop Insurance Works

1

Determine Your Sum Insured

Calculate your expected yield (tonnes/ha) multiplied by expected market price. This is the maximum you can claim if a crop is totally destroyed. Be realistic - over-insuring wastes premium, under-insuring leaves you exposed.

2

Select Your Perils

Choose which risks to cover. Basic policies cover fire and hail. Comprehensive policies add flood, wind, and other perils. Each additional peril increases premium but provides broader protection.

3

Cover Period

Most policies cover from emergence (or a specified start date) until harvest is complete. Some policies can extend to cover stored grain. Ensure there's no gap between growing crop and storage cover.

4

Making a Claim

If an insured event damages your crop, notify your insurer immediately. An assessor will inspect the damage. Payment is typically calculated as: (expected yield - actual yield) × agreed price - excess.

Crop Insurance Costs 2026

Crop insurance is typically priced as a percentage of the sum insured. Rates vary by crop type, location, and coverage level:

Crop Type Rate Range Example (100ha)
Wheat / Barley 2.0% - 3.5% $6,000 - $10,500
Maize (grain) 2.5% - 4.0% $8,000 - $16,000
Peas / Beans 2.5% - 4.5% $5,000 - $9,000
Seed crops 3.0% - 5.0% $9,000 - $25,000
Process vegetables 3.0% - 5.0% $12,000 - $30,000

Note: Example assumes average crop values. Higher-value crops (e.g., certified seed, specialty vegetables) will have higher premiums. Rates vary by region and claims history.

Crop Risks by Region

🌾

Canterbury Plains

NZ's largest arable region. Main risks: nor'west wind damage, hail from nor'west arch storms, localised flooding from rivers. Fire risk in dry summers and during harvest.

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Waikato / Bay of Plenty

Maize and vegetable growing regions. Main risks: flooding from high rainfall, wind damage to tall maize crops, occasional hail. Cyclone risk for late-season crops.

🥕

Hawke's Bay / Manawatu

Process vegetables and mixed cropping. Main risks: flooding (Cyclone Gabrielle caused major losses), hail, wind. Summer drought can affect unirrigated crops.

🌱

Southland / Otago

Cereals and seed production. Main risks: late frost damage, wind, flooding in low-lying areas. Short growing season means any delay from damage is critical.

Real Crop Insurance Claims

Canterbury Wheat - Hailstorm

A nor'wester brought severe hail that flattened 80 hectares of wheat two weeks before harvest. The crop was insured at $3,200/ha and sustained 70% loss.

Claim paid: $179,200

Mid-Canterbury - Harvest Fire

A combine harvester started a fire in dry stubble that spread to 45 hectares of standing barley and a neighbour's paddock. Crop insurance covered the standing crop loss.

Claim paid: $112,500

Hawke's Bay Process Peas - Flooding

Heavy rain caused river flooding that submerged 30 hectares of process peas contracted to a local processor. The crop was a total loss with no salvage value.

Claim paid: $156,000

Crop Insurance FAQs

What does crop insurance cover in New Zealand?
Crop insurance covers growing crops against fire, hail, wind, flood, and other natural disasters. Depending on your policy, it can cover the crop value from planting through to harvest. Some policies also cover stored grain and harvested crops awaiting sale.

How much does crop insurance cost in NZ?
Crop insurance typically costs 2-5% of the insured crop value. For a Canterbury wheat crop worth $3,000/ha, expect to pay $60-$150/ha in premium. Total farm costs might range from $5,000-$25,000/year depending on crop types, total hectares, and coverage level selected.

Can I insure crops against drought?
Standard crop insurance in NZ doesn't cover drought or gradual yield reduction due to lack of rainfall. Cover is focused on sudden, defined events like hail, fire, or flood. Some income protection policies may help with overall farm income loss, but pure drought cover is not typically available.

What crops can be insured in New Zealand?
Most commercial crops grown in NZ can be insured including: wheat, barley, oats, maize (grain and silage), peas, beans, lentils, ryegrass and clover seed, vegetable seeds, potatoes, onions, and process vegetables. Specialty crops may require specific underwriting.

When should I arrange crop insurance?
Arrange crop insurance before or shortly after planting. Most policies begin cover from when the crop emerges or from a specified planting date. Waiting until mid-season may limit your options or result in exclusions for existing conditions. Review and renew annually before each growing season.

Does crop insurance cover hail damage?
Yes, hail is one of the primary perils covered by crop insurance. A single hailstorm can devastate a standing crop in minutes. Cover typically pays the difference between your expected yield and what you can salvage after hail damage, subject to policy terms.

Is stored grain covered by crop insurance?
Standing crop insurance typically ends at harvest. Stored grain needs separate cover under your farm contents or a specific grain storage policy. This covers fire, weather damage to storage facilities, and can include spoilage from equipment failure. Make sure there's no gap between harvest and storage cover.

What happens if my crop is a total loss?
If a covered event destroys your crop, insurance pays up to the agreed sum insured (usually based on expected yield times market price). You'll need to document the loss, and an assessor will verify the damage. Payment is typically made after harvest time, minus any salvage value and your excess.

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Key Facts

  • NZ arable sector worth $1B+ annually
  • Premiums typically 2-5% of crop value
  • Hail is the most common crop claim
  • Arrange cover before planting

Crop Insurers

  • FMG - Rural specialist
  • Vero - Commercial rural
  • NZI - Agri-business
  • Specialist underwriters
Compare all providers →

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