Dry Hire Insurance

There are two main types of dry hire insurance: subrogation and damage waiver. Under subrogation, the hirer is responsible for any damage and may be billed by the insurer for repairs. With a damage waiver, the hirer is covered under the owner’s insurance, and no repair bill is passed on for unintentional damage. Each approach carries different costs and risk considerations.

Dry hire means leasing equipment or vehicles without an operator, placing operational responsibility on the hirer. Wet hire includes both the equipment and an operator supplied by the owner. Because dry hire carries different risks, such as unauthorised use or misuse, specific dry hire insurance may help manage liability and damage exposures.

Costs vary based on equipment value, location, liability needs and whether damage waiver is included. You should also factor in solicitor fees for preparing a proper hire agreement, as this is generally required by most insurers. Speaking with a broker specialised in this area can help you assess insurance for dry hire that suits your asset type and business structure.

Getting a quote for dry hire insurance is simple. You can submit an online request or speak directly with one of our brokers. Using your details, we’ll help you compare insurance for dry hire across a wide panel of Australian insurers and find policies that suit your industry, location and equipment needs.

We aim to respond to every enquiry promptly. With a great deal of experience in our field, we can generally turn around a quote and bind a policy within 24 hours.

With access to advanced technology, we can provide electronic certificates of insurance for you in a prompt and timely manner. We do require payment prior to issuing the certificates, however.

Insuregroup has access to over 100 insurance markets both nationally and internationally. We routinely research these markets to ensure our customers get the right cover and the best available price.

Choosing an insurance policy is a significant investment – it is important to feel informed and involved in the process and our team recognises that you might want clarification on a few points before committing to anything. If you feel you would like to learn more, we invite you to email us at hello@insuregroup.com.auso our friendly team can answer any queries you may have. View our latest guides on insurance, regulatory considerations and managing risk.

They overlap. If your business hires trailers out to others without a driver, dry hire cover for the trailers is the usual starting point. If your business tows a trailer it has hired or borrowed, the relevant cover is usually trailer in control insurance. Tell us which side of the hire you are on and we can look at the right options.

Equipment hire insurance is a broad term. For a business that hires equipment out, it usually means dry hire cover for the equipment while it is with hirers, often alongside public liability. For a business that hires equipment in, it usually means hired-in plant insurance.

Not always. Some equipment policies exclude or limit cover while equipment is hired out without an operator. Check the policy wording, or ask a broker to review it against how you hire your equipment.

Depending on the insurer, a hire business with several items of plant, equipment or trailers may be able to arrange cover on one policy rather than one policy per item. An equipment schedule with values and your hire terms is needed to compare options. See our guide to insuring a mixed equipment fleet.