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Plant & Equipment Insurance for Australian Businesses

Insurance for the machinery your business relies on every day

Priority Insurance Brokers helps contractors, plant owners, earthmoving businesses, hire companies and larger commercial fleets arrange insurance around how their machinery is actually used.

Whether you own one excavator or operate a mixed fleet of plant, trucks and trailers, we can help review the physical damage, breakdown, liability, hire and downtime risks around the equipment.

Prefer to speak with a broker? Call 07 3103 2992.
Get a Plant & Equipment Insurance Quote
Review My Current Plant Cover

Owned plant Hired-in plant Wet & dry hire Australia-wide

Award-Winning Business Insurance Brokers

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Qualified Practising Insurance Broker
Daniel Ufer · QPIB
AR 1295221

The machine. The work. The business behind it.

Plant Insurance That Looks Beyond the Machine

A piece of machinery can create several different exposures at once.

There is the value of the machine itself.

Then there may also be:

  • liability if the machine damages third-party property
  • finance obligations
  • hired-in equipment
  • downtime if the machine cannot work
  • attachments and accessories
  • transport between sites
  • registered road use
  • hire contracts
  • replacement machinery costs

That is why Plant & Equipment Insurance should not be treated as simply another asset policy.

Priority works with businesses across earthmoving, civil, construction, mining, plant hire and other machinery-heavy industries.

Business Insurance Brokers →

What Is Plant & Equipment Insurance?

Plant & Equipment Insurance is specialist commercial insurance designed for machinery and equipment used within a business.

Depending on the insurer and policy, you may also see terms such as:

  • Mobile Plant & Equipment Insurance
  • Plant & Machinery Insurance
  • Contractors Plant & Machinery Insurance
  • Machinery Insurance

The exact terminology matters less than understanding what sections of cover have actually been arranged.

Depending on the risk, a policy may address areas such as:

  • accidental physical damage
  • theft
  • fire
  • machinery breakdown
  • liability
  • road risk
  • hired-in plant
  • hired-out plant
  • downtime
  • hire costs
  • attachments
  • transit

The actual cover available depends on the policy wording and insurer appetite.

Who Is Plant & Equipment Insurance For?

Owner-Operators

For businesses relying on one or two key machines such as an excavator, skid steer or loader.

The biggest issue may not just be damage to the machine — it may be how long the business can operate without it.

Earthmoving Contractors

For businesses operating excavators, loaders, graders, rollers and other earthmoving equipment across civil and construction sites.

Earthmoving Insurance →

Civil Contractors

For plant operating across infrastructure, roadworks, drainage and civil construction projects.

Construction Contractors

For machinery used across building sites and larger construction projects.

Builders Insurance →

Mining Contractors

For plant operating in mining and resources environments, including businesses with specialist contract and site requirements.

Mining Insurance →

Plant Hire Businesses

For businesses hiring machinery to third parties under wet or dry hire arrangements.

Dry Hire Insurance →

Larger Mixed Fleets

For businesses operating combinations of:

  • plant
  • trucks
  • trailers
  • utes
  • road-registered machinery

Truck & Commercial Motor Insurance →

Find your machinery

What Plant & Machinery Can Be Insured?

From mini excavators to specialist attachments, tell us which machines you operate and how they are used. Availability depends on the individual risk and insurer appetite.

What Can Plant & Equipment Insurance Cover?

Cover sections and extensions vary between insurers. We help you identify which options are relevant to your machinery and operations.

May cover certain accidental physical damage to insured machinery depending on policy terms.

Plant may be exposed to fire, weather and other physical damage events.

Theft cover can be important for machinery left on jobsites, in yards or at temporary locations.

Security requirements may apply.

Can address certain internal mechanical or electrical breakdown events where included.

This is different from accidental external damage.

May be relevant while machinery is being loaded, unloaded or transported between sites.

For machinery hired from another business where you have accepted responsibility under the hire agreement.

For machinery you own but allow another business to use.

Where the machine is supplied together with your operator.

Where the machine is supplied without your operator.

Dry Hire Insurance →

Can become relevant where registered plant operates on public roads.

Liability arising from operation of machinery may need consideration alongside physical damage cover.

Buckets, augers, hammers, forks, GPS systems and other attachments may need to be specifically included.

Options may be available where the loss of a machine interrupts income.

May help with additional costs incurred to continue operating, such as hiring replacement machinery.

Relevant where hired-in machinery remains subject to hire charges while damaged.

Where machinery is financed, the outstanding financial obligation should be considered alongside the insured value.

Accidental Damage and Machinery Breakdown Are Not the Same Thing

How the Machine Stops Working Matters

A machine can be out of action because it:

  • rolls over
  • collides with another object
  • is damaged by fire
  • is stolen
  • suffers an internal mechanical failure
  • suffers an electrical failure

Those situations may fall under different sections of a plant policy.

Do not assume that a policy covering accidental physical damage automatically includes machinery breakdown.

Likewise, a breakdown policy may not address every external-damage event.

Review My Machinery Breakdown Cover

Owned, Hired-In or Hired-Out Plant?

These Are Three Different Insurance Risks

Owned Plant

You own the machine and generally carry the physical asset risk yourself.

Hired-In Plant

You hire the machine from somebody else.

Your hire agreement may make your business responsible for loss or damage while the plant is in your possession.

Hired-Out Plant

You own the machine and allow another business to use it.

That introduces different risks around:

  • control of the machine
  • theft
  • damage
  • operators
  • hire agreements
  • recovery

These arrangements should not be treated as interchangeable.

Hired-In Plant Insurance

Check the Hire Agreement Before the Machine Arrives

When you hire machinery, the hire agreement may transfer responsibility for loss or damage to your business.

Depending on the arrangement, hired-in plant can potentially be covered:

  • machine by machine
  • under a blanket hired-in plant limit

A blanket arrangement can be useful for contractors who regularly hire different machinery throughout the year.

Send Us Your Hire Agreement →

Continuing Hire Charges

The Hire Bill May Keep Running Even When the Machine Is Damaged

If hired machinery is damaged, the business may still be charged hire fees while the machine is being repaired or replaced.

That means a single incident can create:

1. the physical-damage cost and 2. ongoing hire charges

If you regularly hire equipment, this should form part of the insurance discussion.

Wet Hire vs Dry Hire

Who Operates the Machine Changes the Risk

Wet Hire

The machine is supplied with your operator.

You retain much more control over how the machinery is operated.

Dry Hire

The machine is supplied without your operator.

The hirer controls the machinery while it is away from your business.

This can materially change insurer appetite and the policy terms required.

Priority has a dedicated Dry Hire Insurance page for businesses actively hiring machinery out without an operator.

Dry Hire Insurance →

Theft by Hirer

Ordinary Theft and a Hirer Failing to Return a Machine Are Not Always the Same Thing

This is an important risk for plant-hire businesses.

If a machine is handed to a customer under a hire agreement and is not returned, that can be treated differently from ordinary theft by an unknown third party.

Where this exposure is relevant, insurers may want to understand:

  • hire agreements
  • customer identification
  • payment methods
  • GPS tracking
  • security procedures
  • how hirers are vetted

If you hire machinery out, tell the broker clearly.

Do not assume standard theft cover automatically deals with theft or misappropriation by a hirer.

Moving Plant Between Jobsites

Plant in Transit

The Machine Can Be Exposed Before It Reaches the Job

Plant can be damaged while:

  • being loaded
  • being unloaded
  • transported on a float
  • towed
  • moved between projects

That means the insurance discussion should not stop at what happens while the machine is operating.

Tell us how the plant is normally moved between locations.

Registered Plant & Road Risk

Some mobile plant regularly travels on public roads.

This can create a different exposure from machinery operating entirely within a worksite.

Relevant considerations may include:

  • registration
  • road use
  • third-party liability
  • the machine’s own physical damage
  • trucks or floats used to move equipment

Where the business also operates trucks and trailers, it may be more efficient to review the plant and commercial motor program together.

Truck & Commercial Motor Insurance →

Machine Liability — What If the Plant Damages Something Else?

The Damage to Your Machine Is Only One Part of the Claim

Imagine an excavator causes damage to a neighbouring structure.

There can potentially be two different losses:

Damage to the Excavator

The physical-damage section of the plant policy may be relevant.

Damage Caused to the Third Party

A liability section may need to respond to the damage caused by the machine.

That is why plant insurance should not be assessed solely on the replacement value of the equipment.

Public Liability Insurance →

Client experience · plant, liability and downtime

Real Priority Example — Excavator and Property Damage

One Incident. More Than One Section of Cover.

A Priority client was operating an excavator beside a house when one incident caused damage to both the machine and the property.

During excavation, ground gave way and the house foundation dropped, causing significant cracking.

At the same time, the excavator fell and sustained damage to its arm.

Because the client’s policy included both plant damage and liability components, the claim involved:

  • damage to the excavator
  • third-party damage to the house
  • downtime while the excavator was being repaired

This is a good example of why a plant policy should be reviewed as a complete program rather than simply asking whether the machine itself is insured.

Individual claim outcomes depend on the policy wording and circumstances.

Downtime — What Happens When the Machine Cannot Work?

Repairing the Plant Does Not Automatically Replace the Income It Earns

A critical machine can produce a large part of a contractor’s revenue.

If it is damaged and cannot operate, the business may still have:

  • finance payments
  • wages
  • existing contracts
  • deadlines
  • other fixed costs

Depending on the policy, options may be available for:

  • downtime
  • financial loss
  • substitute machinery hire
  • increased cost of working

The correct option depends on how reliant the business is on the individual machine.

Increased Cost of Working

Sometimes the Business Keeps Operating — But at a Higher Cost

Suppose your excavator is damaged.

Instead of shutting down, you hire another excavator so the project can continue.

That replacement hire may cost considerably more than normal operations.

This is different from simply losing income.

Where available, Increased Cost of Working cover may help address certain additional operating costs arising after an insured loss.

Keep your machinery schedule current

Machine Values, Finance & Attachments

A Machine’s Value Changes Over Time

When insuring plant, make sure you understand the basis on which a claim would be settled.

Depending on the policy, this can involve:

  • agreed value
  • market value
  • replacement arrangements for newer machines
  • depreciated value

Do not assume the amount shown on a finance contract, purchase invoice and insurance schedule will always be treated identically.

Machine values should be reviewed at renewal and after significant upgrades or market changes.

What Happens If the Finance Balance Is Higher Than the Insurance Settlement?

Many machines are financed or leased.

Where machinery is written off, the amount owed to the financier and the amount payable under an insurance policy may not always be identical.

Depending on the policy, finance-gap or lease-related options may be available.

If the machine is financed, tell us:

  • financier
  • outstanding balance
  • machine value
  • lease structure

The Machine Is Often Worth More Than the Base Unit

A machine may also include:

  • buckets
  • augers
  • hydraulic hammers
  • rock breakers
  • forks
  • quick hitches
  • GPS guidance
  • grading systems
  • specialist attachments

Those items can represent a significant additional value.

Make sure the machinery schedule clearly reflects what you actually own.

Do not wait until a claim to discover the attachment was never included.

Recovery, Storage & Security

Bogging, Recovery & Retrieval Costs

Getting the Machine Out Can Be Expensive

Plant can become:

  • bogged
  • overturned
  • stranded
  • inaccessible
  • stuck down an embankment

Recovery can require cranes, heavy tow equipment or specialist contractors.

Where this risk is relevant, ask what recovery or retrieval expenses are available under the policy.

Theft, Storage & Security

Where Does Your Plant Stay Overnight?

Theft exposure can vary significantly depending on whether machinery is:

  • stored in a locked yard
  • left on an open worksite
  • kept in a fenced compound
  • fitted with GPS
  • immobilised
  • regularly moved between temporary locations

An insurer may ask about:

  • GPS tracking
  • immobilisers
  • key security
  • fencing
  • cameras
  • overnight location

Describe the actual storage arrangement rather than the ideal one.

Explore insurance for your industry

Plant Insurance by Industry

Earthmoving & Excavation

Excavators, loaders, skid steers and other earthmoving machinery.

Earthmoving Insurance →

Mining Contractors

Heavy machinery operating across mining and resources environments.

Mining Insurance →

Construction

Plant used across building and construction projects.

Builders Insurance →

Demolition

Excavators and machinery performing structural demolition and site clearing.

Demolition Insurance →

Scaffolding & Access Equipment

Boom lifts, scissor lifts and other machinery supporting height-based work.

Scaffolding Insurance →

Plant Hire

Businesses hiring machinery out to third parties.

Dry Hire Insurance →

Contractors

Plant used by commercial and construction contractors.

Contractors Insurance →

Civil & Infrastructure

Roadworks, drainage, utilities and major infrastructure projects.

Agriculture & Rural Contracting

Machinery used within contracting and agricultural operations.

Forestry

Specialist plant working in forestry and vegetation-management environments.

Mixed Plant, Truck & Trailer Fleets

One Business Can Have Several Different Vehicle Types

A contractor may operate:

  • excavators
  • trucks
  • trailers
  • skid steers
  • utes
  • loaders
  • registered mobile plant

Depending on the fleet composition and insurer appetite, it may be possible to structure plant and commercial motor together or separate them.

The right answer depends on the business.

Truck & Commercial Motor Insurance →

Prepare your machine schedule

What Insurers Want to Know Before Quoting Plant Insurance

A Machine Schedule Should Tell the Full Story

For each item, we may need:

  • Year
  • Make
  • Model
  • Serial / VIN / Engine Number
  • Registration
  • Current Value
  • Finance Details
  • Attachments
  • Operating Activities
  • Locations
  • Overnight Storage
  • Security Measures
  • Road Use
  • Transit Method
  • Wet Hire
  • Dry Hire
  • Hired-In Plant
  • Hired-Out Plant
  • Operators
  • Claims History

The more accurate the schedule is, the easier it is to present the risk properly to insurers.

Common Plant Insurance Gaps We Look For

The Machinery Can Change Faster Than the Policy

  • Machine Values Are Outdated
  • Attachments Are Missing
  • Dry Hire Has Been Added
  • Hired-In Plant Is Not Considered
  • Continuing Hire Charges Are Missing
  • Breakdown Has Been Confused With Accidental Damage
  • Transit Has Not Been Considered
  • Road Use Has Changed
  • Mining or Civil Work Has Started
  • Security Arrangements Have Changed
  • Downtime Is Critical But Not Insured
  • The Finance Position Has Changed
  • Machines Have Been Added Without Updating the Schedule
  • A New Operator or Business Activity Has Been Introduced
Review My Current Plant Cover

How Much Does Plant & Equipment Insurance Cost?

Plant Insurance Pricing Depends on the Machine and How You Use It

The cost may be influenced by:

Machine Type

An excavator and a crane present different risks.

Machine Value

Higher-value plant generally increases the amount at risk.

Machine Age

Age can affect both value and breakdown exposure.

Number of Machines

A single machine and a 20-unit fleet are different insurance risks.

Operating Activity

Earthmoving, mining, demolition and general construction do not present identical risk.

Wet or Dry Hire

Hire arrangements can materially change insurer appetite.

Hired-In Plant

Additional contractual exposure may apply.

Downtime Cover

The amount and period selected can affect premium.

Machinery Breakdown

Additional breakdown cover can affect the overall policy cost.

Transit

How machinery moves between projects matters.

Storage & Theft Controls

Security can affect the theft risk.

Claims History

Previous machinery or liability claims may affect terms and pricing.

Liability Limits

Higher limits can increase cost.

Want an Accurate Plant Insurance Price?

Get a Plant & Equipment Insurance Quote

One Machine or a Full Fleet?

Your Insurance Should Match the Scale of the Operation

Owner-Operator

One excavator, loader or machine.

Main focus:

Machine Damage → Liability → Downtime

Growing Contractor

Several machines plus trucks and employees.

Main focus:

Fleet → Hired-In Plant → Attachments → Downtime → Liability

Established Fleet

Multiple machines operating across projects.

Main focus:

Fleet Management → Values → Operators → Claims → Mixed Motor/Plant

Plant Hire Company

Machines regularly supplied to other businesses.

Main focus:

Wet Hire → Dry Hire → Theft by Hirer → Hire Agreements → Continuing Hire Charges

Why Use a Plant & Equipment Insurance Broker?

The Hard Part Is Not Finding a Policy — It Is Structuring the Risk Properly

Plant insurance can involve several interacting parts:

  • machinery values
  • finance
  • hire agreements
  • liability
  • breakdown
  • road use
  • wet and dry hire
  • attachments
  • downtime
  • mixed fleets

A broker can help present those details to suitable insurers and explain how the options differ.

We Understand Machinery-Heavy Businesses

Priority works extensively with earthmoving, mining, construction, demolition and contractors.

We Review How the Machine Is Used

Not simply its make and model.

We Look at the Contract

Particularly where machinery is hired in or out.

We Review More Than Premium

Limits, conditions, exclusions and basis of settlement matter.

We Stay Involved

Add or remove machinery as the fleet changes.

We Assist During Claims

Priority helps communicate with insurers and manage the claims process.

Talk to a Plant & Equipment Insurance Broker

Why Priority Works Well With Plant Businesses

We Can Look at the Whole Commercial Program

A plant business may have:

  • machinery insurance
  • Public Liability
  • trucks
  • trailers
  • Contract Works
  • Management Liability
  • Cyber
  • multiple renewal dates

Priority can review the wider program rather than treating every policy as a separate transaction.

That is particularly useful for businesses whose operations have grown beyond one machine.

Explore related cover: Contractual Liability, Management Liability and Cyber Insurance.

Meet Your Plant & Equipment Insurance Broker

Daniel Ufer

Managing Director QPIB Authorised Representative No. 1295221

Specialist Areas: Plant & Equipment | Earthmoving | Mining | Construction | Complex Commercial Risks

Meet the Priority Team

How Getting a Plant & Equipment Insurance Quote Works

1. Tell Us What You Operate

Machine schedule, values and attachments.

2. Tell Us How You Use It

Owned, hired, wet hire, dry hire, mine site, civil site, road use etc.

3. We Review the Risk

Including physical damage, liability, hire and downtime exposures.

4. We Approach Suitable Insurers

Subject to individual risk and insurer appetite.

5. We Explain the Options

Cover, limits, excesses, exclusions, settlement basis and premium.

Start My Plant Insurance Quote

What Information Helps Us Quote?

Have the following ready where possible:

  • business name
  • ABN
  • annual turnover
  • industry
  • machine schedule
  • year / make / model
  • serial numbers
  • registration
  • machine values
  • attachments
  • finance
  • overnight storage
  • security
  • work performed
  • worksites
  • wet hire
  • dry hire
  • hired-in plant
  • hired-out plant
  • transit method
  • claims history
  • current insurer
  • renewal date

Have your current plant schedule ready to share with your broker.

Plant & Equipment Insurance Across Australia

Plant & Equipment Insurance Australia-Wide

Priority Insurance Brokers is based in Brisbane and works with plant owners, contractors and machinery businesses throughout Australia.

Location can matter because machinery may operate across very different environments, including:

  • metropolitan construction sites
  • regional civil projects
  • remote mining operations
  • agricultural areas
  • industrial sites

Plant & Equipment Insurance Brisbane & Queensland

For businesses operating across Brisbane, regional Queensland, civil projects and mining-related work.

Plant & Equipment Insurance Sydney & New South Wales

For contractors working across Sydney, regional NSW, construction, infrastructure and earthmoving projects.

Plant & Equipment Insurance Melbourne & Victoria

For machinery operating across Melbourne, regional Victoria and commercial/civil projects.

Plant & Equipment Insurance Perth & Western Australia

For businesses working across Perth, resources operations and remote WA projects.

Plant & Equipment Insurance Adelaide & South Australia

For construction, civil, agriculture and commercial plant operators across South Australia.

Priority also assists businesses in Tasmania, the ACT and Northern Territory.

Plant & Equipment Insurance FAQs

It is specialist commercial insurance for machinery and equipment used within a business.

Depending on the policy, several different sections of cover may be available.

The terminology varies between insurers.

Mobile Plant & Equipment, Plant & Machinery and Contractors Plant & Machinery can refer to similar categories of commercial machinery insurance, but the policy wording determines the actual cover.

Yes, excavators can be considered under Plant & Equipment Insurance.

Earthmoving Insurance →

Yes, skid steers and similar machinery can generally be considered for plant insurance, subject to insurer appetite.

Theft cover may be available, subject to policy conditions, security requirements and circumstances.

Not automatically.

Machinery breakdown may be a separate section or optional extension depending on the policy.

Potentially.

Cover can sometimes be arranged individually or through a blanket hired-in plant limit.

They are hire fees that may continue after hired machinery is damaged and unavailable.

Where relevant, this exposure should be reviewed separately.

Potentially.

Wet and dry hire exposures need to be clearly disclosed.

Dry Hire Insurance →

It can, subject to suitable insurer acceptance and policy terms.

Dry hire should not be assumed under a standard owner-operator policy.

Transit-related cover may be available depending on the policy.

Tell your broker how equipment is moved between jobs.

Road-risk options may be relevant for registered machinery operating on public roads.

Do not assume they are.

Attachments and accessories should be identified and valued appropriately.

Yes, financed machinery can generally be considered for insurance.

The financier’s interest and machine value should be disclosed.

It refers to cover designed to address certain financial impacts when insured machinery is unavailable following an insured event.

The exact structure varies between policies.

It can help address certain additional costs incurred to keep the business operating after an insured event, such as hiring substitute machinery, where covered.

Sometimes.

The right structure depends on the fleet composition and insurer appetite.

Truck & Commercial Motor Insurance →

This refers to circumstances where plant supplied to a customer under a hire agreement is misappropriated or not returned.

It can be treated differently from ordinary theft and should be specifically discussed if you operate a hire business.

Premiums depend on factors such as machine values, age, activities, fleet size, hire arrangements, locations, storage, claims and cover selected.

A detailed machine schedule, values, use, locations, hire arrangements and claims history are usually helpful.

Yes.

Priority can assist clients with claims communication and insurer liaison.

Claim outcomes remain subject to policy terms and insurer assessment.

Talk to a Plant & Equipment Insurance Broker

Tell Us About the Machinery Your Business Relies On

Whether you operate one excavator or manage a fleet of plant, trucks and hired equipment, Priority can review the risk and discuss the insurance options available.

Call 07 3103 2992

quotes@priorityib.com.au

Get a Plant & Equipment Insurance Quote

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