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Bespoke Insurance Group

A-03Construction

Plant & Equipmentinsurance.

Cover for the machinery that does the heavy lifting.

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A-03 · Elevation

01 · The exposure

Machines that earn their keep deserve cover that keeps up.

Excavators, cranes, loaders, bulldozers and earthmoving equipment represent serious capital and serious earning capacity. Plant and equipment insurance can be arranged for owned, hired-in and hired-out machinery, on site, in transit and in the yard.

02Scope

What this covercan respond to.

A general guide. What a particular policy covers depends on its wording, limits, conditions and exclusions, and on what is declared to the insurer.

  1. 01Accidental physical loss or damage to scheduled plant and equipment
  2. 02Theft and malicious damage, subject to security conditions
  3. 03Breakdown cover where included
  4. 04Liability arising from the operation of plant, where a broadform liability section applies
  5. 05Hired-in plant and wet or dry hire arrangements, where specified
Often discussed byEarthmoving and civil contractorsPlant hire businessesBuilders with owned machineryAgricultural and quarry operators

03What we look at

Where the detailmatters.

  • Agreed or market value

    How your plant is valued at claim time matters. We discuss whether agreed value or market value suits each item.

  • Wet hire versus dry hire

    Supplying an operator with the machine changes the liability picture. Your policy needs to reflect how you actually hire equipment out, or in.

  • Registration and road use

    Registered plant travelling on public roads can have different motor and liability requirements to plant that stays on site.

04 · Before we talk

Questions yourbroker will ask.

Having these answers to hand makes the first conversation faster and the submission to insurers stronger.

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  1. Which items do you own, lease or hire in, and what are they worth?
  2. Do you hire plant out, with or without an operator?
  3. Where is equipment stored overnight and what security is in place?
  4. Is any item registered for road use?

05 · Questions

Frequently asked.

Can hired-in equipment be covered?

Yes, many policies can include hired-in plant, which is often a requirement of hire agreements. Limits and conditions vary, so it should be set up before you take delivery.

Is mechanical breakdown included?

Not always. Breakdown can be an optional section or a separate machinery breakdown policy.

Related cover

Commonly part of programs for construction & trades.

Talk plant & equipmentthrough with a broker.

A short conversation is usually the fastest way to know where you stand. No obligation, and no form required if you would rather call.

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Or call 1300 513 652, answered 24/7