The complete NZ livestock insurance buyer's guide for 2026. Compare providers, understand coverage types, get quotes, and make informed insurance decisions.
Buying Livestock Insurance in 2026
The NZ livestock insurance market has evolved significantly following Cyclone Gabrielle and the ongoing Mycoplasma bovis management programme. Farmers who previously relied on minimal coverage are now understanding the full cost of being underinsured.
What's Changed in 2026
Premium rates have increased across the board following two years of significant claims. FMG in particular has adjusted rates for flood-prone regions. However, competition from Aon and specialist brokers means comparison shopping is more valuable than ever.
The 5-Step Buying Process
Step 1: Value your animals accurately. Undervaluation is the most common mistake. Use current market values, not what you paid. For stud animals, use recent sale prices for comparable animals.
Step 2: Understand exclusions. Standard policies exclude many things farmers assume are covered — pre-existing conditions, gradual deterioration, foot-and-mouth (exotic disease), and often post-shearing exposure.
Step 3: Choose your excess level. Higher excess = lower premiums. For commercial herds, a $500–$1,000 excess per animal is common. For individual stud animals, a lower excess may be worth the premium.
Step 4: Compare at least two providers. FMG is the default choice for most farmers, but Aon and Gallagher regularly beat FMG on price for certain livestock types and regions.
Step 5: Review annually. Animal values change. Your coverage should too. An annual review with your adviser prevents underinsurance as stock values increase.
