Plant and Equipment Insurance can be arranged for machinery your business hires to customers.

What is dry hire? #

Dry hire generally means the equipment is supplied without an operator.

The customer operates and controls the equipment during the hire period.

What is wet hire? #

Wet hire generally means your business supplies the equipment together with an operator.

These arrangements create different insurance exposures.

What information can insurers require? #

This can include:

• Type and value of equipment
• Amount of dry hire and wet hire activity
• Customers using the equipment
• Operator experience and qualifications
• Where the equipment is used
• Security and tracking arrangements
• Storage
• Maintenance and inspection procedures
• Standard hire agreements
• Damage waiver arrangements

Cover for theft, conversion or disappearance by a hirer can be restricted or subject to specific conditions.

Wet hire can also create Public Liability exposures arising from the operator and the work being undertaken.

Road risk should be considered where equipment is used on public roads.

Contact our team if your business hires plant or equipment to customers.