Plant and Equipment Insurance can be arranged to cover equipment your business hires from another party.

This is commonly referred to as hired-in plant cover.

What can hired-in plant cover include? #

Depending on the policy, cover may be available for:

• Accidental loss or damage
• Fire
• Theft
• Rollover
• Damage while the equipment is being used
• Equipment in transit
• Continuing hire charges following insured damage
• Certain liabilities for damage to the hired equipment

These benefits vary between policies and should not be assumed to be automatically included.

Why is the hire agreement important? #

The hire agreement can determine what your business is responsible for if the equipment is:

• Damaged
• Stolen
• Destroyed
• Unavailable following damage

The agreement may also make your business responsible for matters such as recovery costs, continuing hire charges or replacement costs.

A damage waiver offered by the hire company is not necessarily the same as insurance and can contain its own exclusions, excesses and conditions.

Some policies provide an automatic hired-in plant limit, while higher-value equipment may need to be individually declared.

Provide us with the hire agreement, equipment value and intended use before the hire begins where possible.

Contact our team if you need help reviewing hired-in plant requirements.