From construction and civil engineering to manufacturing, mining, and agriculture, Plant and Equipment insurance is critical for organisations whose productivity depends on the continuous availability and safe operation of high-value assets.
Unlike standard property insurance, Plant and Equipment policies are tailored to the unique risks associated with mobile and fixed machinery—covering not just physical damage, but also the costs and liabilities that follow an incident. Coverage can extend to equipment on-site, in transit, or hired in, ensuring protection wherever your operations take place.
Across Australia, exposure to risk is heightened by harsh environmental conditions, remote work locations, and complex project requirements. Weather events, accidental damage, operator error, theft, and mechanical failure can cause costly downtime and disrupt project timelines. Without dedicated cover, businesses may face major repair or replacement costs, lost revenue, and legal liabilities that jeopardise contracts and cash flow.
Typical Plant and Equipment policies can include:
- Material Damage: Covers physical loss or damage to owned and hired-in plant, machinery, and tools—on-site, off-site, and in transit.
- Road Risk / Mobile Plant Liability: Protects mobile plant operating on or near roads, including third-party property damage and bodily injury.
- Breakdown Cover: Provides protection for sudden and unforeseen mechanical or electrical breakdown, including repair and replacement costs.
- Loss of Income / Downtime: Compensates for lost revenue or hire charges during repair periods, helping maintain cash flow.
- Hired-In Plant Cover: Includes liability for damage to equipment you rent, plus continuing hire charges per contract terms.
- Additional Costs: Covers expenses to minimise disruption—expedited repairs, temporary hire, towing and recovery, debris removal.
- Optional Extensions: Can include theft without forcible entry, wet or dry hire liability, operator personal accident, and contract-specific conditions.
Because every operation is different, policy wording, sums insured, excesses, and sub-limits must be tailored to your fleet profile, usage, and contract obligations. Clear terms around wet/dry hire arrangements, maintenance standards, operator competency, and geographies (on-site/off-site/over-the-road) are essential to avoid gaps and disputes.
For Australian businesses, Plant and Equipment Insurance is a strategic asset. It underpins project delivery, protects balance sheets, and sustains stakeholder confidence by enabling rapid recovery when incidents occur. With advances in telematics, GPS tracking, and predictive maintenance, insurers and brokers can help you optimise risk controls, claims efficiency, and premium outcomes.
In an operationally demanding environment, Plant and Equipment Insurance helps keep your business moving—protecting the assets that power your projects and the revenues that depend on them.