Everything You Need to Know About Plant and Machinery Insurance


Plant machinery insurance refers to insurance that covers a wide range of construction equipment, such as bobcats, portable tools, forklifts, and other similar vehicles. It is essential to ensure that your plant and equipment are insured in order to protect yourself from difficulties such as damage, theft, malfunction, and other occurrences.

Exactly what is covered by Plant and Equipment Insurance in Australia?

Construction plant and equipment insurance covers the cost of repairing or replacing damaged or destroyed plant and equipment. It includes the following features:

  • Insurance for machinery and equipment
  • Insurance for the current replacement value of the vehicle.
  • Complete coverage for loss or damage to machinery or equipment, whether partial or entire (only when the machinery and equipment have been properly installed and tested can the policy be implemented).
  • Coverage for the plant and machinery that is covered against physical damage or harm caused by any cause, unless it is explicitly excluded from the policy.
  • Coverage for insured products that are at rest, in use, or in disassembled condition for cleaning or overhaul.
  • Coverage options that aren’t standard
  • Customs duties
  • Terrorism
  • Liability to a third party
  • Debris clearance and removal
  • Relocation or dismantling of a facility

What Isn’t Covered by the Insurance Policy?

  • Damages or defects that were present prior to the accident
  • Lost or damaged replacement components such as knives, bits, saw blades, and other cutting edges, dies, and moulds, among other things resulting from an explosion of pressure or boiler vessel subjected to fluid pressure or internal fluid, or resulting from any internal combustion engine, damage or loss.
  • Any type of transportation risk that is deemed to be unacceptable.
  • Injury or damage for which the manufacturer or supplier bears legal responsibility.
  • Damage caused by the threat of terrorism.
  • If the insured plant and machinery are damaged or destroyed as a result of the intentional conduct or carelessness of any of the parties.
  • War and/or use of nuclear weapons
  • Liability under a contract
  • Any type of consequential responsibility or loss, regardless of its nature or scope

What Kinds of Plant and Equipment Are Included in the Policy?

Plant and equipment insurance cover includes, but is not limited to, the following:

  • Forklifts
  • Asphalting machinery and equipment
  • Bobcats
  • Drilling rigs used to drill holes in the ground.
  • Equipment for pouring concrete
  • Dumpers
  • Earthmoving machinery
  • Excavators
  • Machines used in agriculture
  • Loaders
  • Machines and equipment used in mining
  • Machinery used in logging
  • Pavers
  • Vehicles with self-loading ramps
  • Material-lifting equipment

Plant and Equipment Insurance Provides a Variety of Protection Options

Whether you’re working on a large-scale construction site or a small one, there are a variety of public liability insurance policies available to protect you against the various risks that may emerge. The following items are covered by a plant and equipment insurance policy:

  • Liability in a Broader Sense
  • Coverage in the event of a breakdown
  • Loss as a result of an unexpected event
  • Coverage in the event of a breakdown
  • Material deterioration
  • Hired plant and equipment
  • Plant and equipment that is rented on a short-term basis

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