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Whether you are a new business looking to put a plant and equipment insurance policy in place or you have a policy and looking for a better deal, we have you covered.
We focus on providing you with a good balance between competitive pricing and great cover.
Don’t spend countless hours shopping around, we provide you the most competitive options the first time.
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Contractors Plant and Equipment Insurance is comprehensive cover for your plant and equipment that you use within your business. This could be anything from commercial sweepers to excavators and cranes.
We understand how important your machinery is to your business and in most cases, your business couldn’t operate without the machine. Taking this into consideration, we have access to a wide range of insurers that can offer commercial equipment insurance that offers full cover and packaged options.
There are various sections to a Contractors Plant and Equipment insurance policy that go a lot further than just covering the machine. Depending on the equipment, how it’s used and how vital it is to your operation will allow us to tailor a package to suit your needs.
We can tailor packages that include; financial loss cover, hire cost cover, finance gap cover and hired in plant cover.
We work with a large amount of contractors that use heavy machinery and can provide you with tailored advice in regards to plant machinery insurance.
As a member of the Steadfast Group we have negotiated bespoke coverage with our insurers and along with our tailored advice, we will ensure that you are adequately protected.
Whether you just need excavator insurance or machinery insurance for your whole fleet, we can get you covered. Our process is quick, simple and easy with all paperwork kept to a minimum.
Why should you use Priority Insurance Brokers to arrange your Plant and Equipment Insurance?
Stop paying more for insurance, get a quote now.
An operator was excavating beside a house where some dirt gave way causing the foundation slab to drop on one side of the house causing significant cracking to the house.
While the dirt gave way the excavator fell causing the arm of the excavator to be damaged in multiple places.
As the policy was a bundled plant and equipment insurance policy the claim was accepted for both the damage to the excavator and the liability costs.
The liability costs covered the damage to the house.
The downtime that was caused while the excavator was being repaired was covered under the material damage section of the policy.
As the policy has many different sections of cover it is very important to work with your insurance broker to ensure that everything is covered correctly. This also includes insuring your attachments.
Machinery can be very expensive let alone the financial loss that could occur by not having suitable machinery insurance.
Depending on the type of equipment that you have you can usually get a combined policy which will cover both trucks, trailers and plant items.
The core items for a plant and equipment insurance policy are:
The main insurers that we tend to use for our plant and equipment insurance is:
This is due to the above insurers having comprehensive machinery insurance policies that are competitive and offer great cover to our clients.
Some business equipment insurance policies where we are insuring both road registered vehicles and plant items have conditions to their policies.
This means that some insurers will only allow a policy to have say 30% of the items being road registered vehicles.
If there are too many road vehicles we may need to place these items on a seperate truck insurance policy.
We understand that business equipment insurance can be difficult to manage between your day to day business activities, hiring in plant, booking in repairs and maintenance.
Our team of experienced brokers deal with machinery insurance everyday so dealing with insurance for excavators and other machinery is very straight forward for us. Let us take care of this for you and let you get back to running your business.
Plant and equipment insurance provides various sections of cover for business owners that own specialised pieces of equipment for their business. The various sections can include:
This is a question that needs to be tailored to your business.
Each business is different along with the level of risk and reliability on specific pieces of machinery.
As a Business Insurance Broker, we work with you to make sure that you understand your cover and the cover thats available to protect certain risks to your business.
For example, if you are just needing excavator insurance then things like ‘goods on hook cover’ isn’t going to apply to you.
The same can be said for a crane operating company, having an exclusion for excavation work over 5 metres isn’t going to affect their business at all.
You can put a blanket hired in plant inclusion on your policy which will provide you a blanket dollar value of cover for items that you hire in.
This is beneficial to policy holders that hire in different pieces of equipment regularly to save you adding each item individually, paying extra premium and then removing it off later.
The cost also usually works out more cost effective to you as a business owner.
Hired machinery insurance can be added on at any time and in fact, some insurers automatically include $50,000 of cover.
The information that is needed to provide you with a quote for plant and equipment insurance is the following:
Yes, absolutely yes. The current wait times on machinery to be repaired or replaced is at an all time high. Gone are the days where you could walk into a dealership, buy a machine and pick it up the next day. In most cases, these specialised pieces of equipment can take 6 to 12 months to be ordered or replaced. As such, we recommend that all of our clients either have hire costs included on their machines or downtime cover for the interrupted business so that you aren’t losing a significant portion of your income.
The policy will usually cover you for Australia wide coverage. Some policies may impose a higher excess if a radius is required to be specific when quoting. Most insurers will cover you anywhere in Australia as long as the machine is being operated legally and within the defined activities that we have provided the insurer.
We work with a number of different insurers for plant and equipment insurance policies. Some of the insurers that we use are:
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Brisbane: Suite 4218, 9/204 Alice Street, Brisbane, QLD, 4000
Sydney: Suite 3040, 903/50 Clarence Street, Sydney, NSW, 2000
Melbourne: Suite 4421, 805/220 Collins Street, Melbourne, VIC, 3000
Adelaide: Suite 3771, 3/55 Gawler Place, Adelaide, SA, 5000
Perth: Suite 3458, 202/37 Barrack Street Perth, WA 6000
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