Plant and Equipment Insurance can cover machinery and equipment used as part of a business against specified loss or damage.

Depending on the policy, insured equipment can include:

• Mobile plant
• Fixed machinery
• Owned equipment
• Financed equipment
• Leased equipment
• Hired-in equipment
• Equipment hired to other businesses
• Attachments and accessories

Common examples include:

• Excavators
• Skid steers
• Loaders
• Forklifts
• Cranes
• Elevated work platforms
• Generators
• Compressors

What risks can be insured? #

Depending on the policy, cover can be available for risks such as:

• Accidental damage
• Fire
• Theft
• Storm
• Rollover

Other sections or extensions may be available for matters such as:

• Machinery breakdown
• Transit
• Road risk
• Hired-in equipment
• Dry or wet hire
• Additional hire costs following an insured loss

These benefits should not be assumed to be automatically included.

The insurer needs to understand where and how the equipment operates, who uses it, whether it travels on public roads and whether it is hired to or from others.

Contact our team if you would like help reviewing Plant and Equipment Insurance for your business.