If you are a tradie, contractor or sub-contractor, you probably use plant machinery, equipment and tools daily to do your work.Can you imagine having an accident or if your equipment broke down and left you unable to finish an important job? Here is why having plant and equipment insurance is vital.
What is plant and equipment insurance?
Plant and equipment insurance covers a wide range of specialist trade and construction equipment including bobcats, bulldozers, portable tools and lifting equipment. It protects your equipment from damage, breakdown and theft among other risks.
Some examples of the type of plant and equipment it covers include:
- Mining machinery and equipment
- Earthmoving equipment
- Farming equipment and machinery
- Mobile plant and equipment
The above examples are just a snapshot. Insurance solutions can be found for pretty much any type of equipment – both mobile and fixed and indoor and outdoor plants.
Does plant and equipment insurance cover machine damage?
A plant and equipment insurance policy can be tailored to your specific needs and biggest risk exposures. As well as machinery breakdown, it can cover a wide range of potential issues including (but not limited to):
- Public liability cover
- Hired-in plant equipment
- Wet hire or dry hire
- Road risk liability
- Consequential loss
- Lease payment protection
- Material damage
What machinery damage is covered?
Not all damage is covered under a standard equipment and insurance policy, such as:
- Deterioration and everyday wear and tear
- Damage due to not undertaking sufficient maintenance
- Damage caused by natural disasters, e.g. floods
- Intentional damage
Some of the above exclusions are available as add-on policies to ensure you are covered for the most critical risks you face.
How much is a plant and equipment insurance policy?
The average starting price for plant and equipment insurance policy varies considerably as there are so many variables when it comes to determining the total sum insured.
The best option is to give us a call as we will discuss your requirements and we be able to give you an accurate quote.
Get your quote today
At Truck Insurance HQ, we have been specialising in the earthmoving, plant and machinery sector for over a decade.
We have inside knowledge of the industry, the risks and the best policies for different types of businesses. Whatever type of plant equipment and machinery you use, we can find the cover that will protect your business from the inherent risks that come with operating machinery.
You can request a quote online or give our team of experienced brokers a call or 1300 815 344 who will be happy to answer any questions you have.