Hired-in Plant Insurance – Do You Have the Right Cover?

Running a construction, trade or transport business in Australia means having access to the right plant and machinery at the right time. But purchasing this equipment outright isn’t always the best move. Hiring can offer greater flexibility and financial efficiency—as long as you’re properly insured.

Let’s explore the pros and cons of plant hire, and why Hired-in Plant Insurance could be a smart investment for your business.

Why Hire Plant and Machinery?

There are several advantages to hiring equipment rather than buying it:

1. Cost-Effective

Hiring means you only pay for equipment when you need it, helping you avoid the large upfront investment that comes with buying outright.

2. Flexibility

With project timelines, weather conditions and job scopes changing frequently, hiring gives you the freedom to scale your equipment needs up or down as required.

3. Test Before You Buy

Thinking of purchasing? Hiring lets you “test-drive” machinery before making a long-term commitment.

4. No Maintenance Hassles

Servicing and repair responsibilities often fall to the hire company—saving you time and money.

5. Access to the Latest Tech

Stay competitive with access to modern, up-to-date machinery without needing to constantly upgrade your own fleet.

Drawbacks of Plant Hire

Despite its benefits, there are some downsides to consider:

1. Availability Issues

Popular machines may be booked out—especially during peak construction seasons.

2. Higher Long-Term Costs

Daily or weekly hire fees can add up. For long-term jobs, purchasing might be more cost-effective.

3. Large Deposits

Most hire companies require a deposit, which can tie up your capital temporarily.

Do You Need Insurance for Hired Equipment?

Yes. Most hire agreements place responsibility for the equipment on you while it’s in your possession. That includes theft, damage, fire, or third-party liability.

Some hire companies may offer a damage waiver—but beware. These often provide limited cover, typically for fire and theft only. They may not cover:

• Accidental damage while in use

• Damage caused by third parties

• Transit damage

• Full replacement value

• High excess payments

What is Hired-in Plant Insurance?

Hired-in Plant Insurance is a specialised policy for businesses that regularly hire equipment. It provides broader and more reliable cover than a basic damage waiver.

A typical policy includes:

• Accidental damage

• Fire and theft

• Transit cover

• Optional public liability add-on (recommended if third-party injury/property risk is present)

It’s designed to protect your business from unexpected costs if the hired machinery is lost, stolen, or damaged—so you can keep projects moving without financial setbacks.

Get Expert Help Finding the Right Cover

At Truck Insurance HQ, we specialise in providing tailored insurance solutions to the transport, construction, and earthmoving industries. Our brokers understand the real risks on Australian job sites and can help you:

• Compare multiple policies

• Secure comprehensive cover for hired plant

• Add protection for tools, vehicles, and public liability if needed

• Get fast and fair claims support

📞 Call us on 1300 815 344 or
📝 Request a quote online today to protect your business with trusted Hired-in Plant Insurance.