Plant and Machinery
Insurance Specialists
If you’ve recently purchased new or used plant, machinery or heavy equipment, insurance is often considered as part of the next steps. Plant and machinery operators are exposed to large public liability risks and the potential to lose expensive plant, machinery and equipment to fire, theft, malicious or accidental damage. This makes reviewing or arranging suitable plant and equipment insurance an important consideration following a purchase.
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With over a decade of experience in plant and machinery insurance, Insuregroup is a trusted Australian broker focused on matching clients with the appropriate coverage, at a competitive price based on their business needs.
As part of and a member of the Steadfast Group, we have access to a wide range of insurance products and competitive premiums and can support you in finding an appropriate insurance solution for your budget and requirements.
At Insuregroup, we provide professional expertise, personalised service, and a commitment to building long-term relationships. Whether you’re insuring newly purchased machinery, adding equipment to existing operations or reviewing current cover, we work alongside you to identify insurance options suited to your needs.
Our deep understanding of the plant and machinery insurance market, combined with strong partnerships with top insurers, enables us to provide in-depth guidance and coverage aligned to your needs. This includes reviewing existing insurance following a purchase or assisting with arranging new cover where required. We take the time to assess your business’s unique requirements and potential risks so we can assist in identifying insurance options that address relevant risks for your equipment and machinery.
Comprehensive Equipment & Machine Breakdown Insurance
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Types of Coverage Offered With Plant And Machinery Insurance In Australia
Plant and machinery insurance helps safeguard your business against a wide range of risks, offering valuable protection that goes beyond just covering damage. Following the purchase of new or used equipment, many businesses review insurance to ensure cover reflects the machinery’s value, condition and intended use.
While each insurer may offer different policy terms regarding how plant machinery and equipment is covered, common types of coverage include:
Material Damage
Theft and Vandalism
Accidental Damage
Breakdown and Machinery Failure
Liability
Business Interruption
Operator’s Liability
Wet and Dry Hire Coverage
Transportation and Transit
At Insuregroup, we understand the unique risks your business faces, and we’re here to help you find insurance solutions that keep your operations running smoothly when the unexpected happens. Our brokers can assist with reviewing existing cover or sourcing new options based on your equipment and operating requirements.
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What Does Plant And Heavy Equipment Insurance Cover?
Plant and heavy equipment insurance can provide coverage for a wide range of machinery and tools, so they are adequately protected against risks like damage, theft and breakdowns. While coverage options can vary between insurers, typical items that may be covered include:
Heavy machinery, such as excavators, bulldozers, and cranes.
Earthmoving equipment like loaders, graders, and backhoes.
Forklifts and material handling equipment.
Small tools and power tools used in construction or trades.
Generators and compressors.
Mobile plant machinery and equipment used in various industries.
Which Industries Benefit From Plant And Heavy Equipment Insurance?
Plant and heavy equipment insurance is essential for businesses across a variety of industries that rely on machinery and heavy equipment to operate. At Insuregroup, we help clients find competitively priced policy options no matter their industry or how niche their operations may be, this includes those who work in:
Construction
Agriculture
Landscaping and Civil Works
Heavy Equipment Rental
Mining
Transport & Logistics
Manufacturing
Request an Online Insurance Quote for Your New Equipment
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Our
Process
The Insuregroup insurance process – insurance solutions on demand.
01
Submit a Quote Request
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02
We Source
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03
Receive a Clear,
Detailed Quote Summary
04
Finalise
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FAQs
What is machinery and equipment insurance?
This includes protection against theft, accidental damage, breakdowns, and liabilities arising from their use. Such insurance ensures that your essential tools and machinery are financially protected, minimising downtime and unexpected expenses.
How can avoiding machinery insurance affect you?
Additionally, if machinery failure results in operational delays or accidents causing injury, you might face substantial repair expenses, legal fees and compensation claims. This lack of protection can disrupt business operations and strain financial resources, making mobile plant and machinery insurance a worthwhile consideration.
Can you provide insurance certificates for financing?
Are the operators of the machinery covered as well?
Are work tools covered, or do I need separate tools insurance?
To ensure suitable protection, it’s advisable to discuss your specific needs with a specialist broker such as Insuregroup. This will ensure you obtain a plant insurance policy that also includes coverage for all your essential tools.
How much does plant equipment and machinery insurance cost?
To obtain an accurate and competitive quote prepared for your business needs, it’s best to consult with our experienced team. We can assess your requirements and provide recommendations and pricing based on these.
What does CPE mean in insurance?
What qualifies as plant and equipment?
- Excavators
- Bulldozers
- Forklifts
- Cranes and similar heavy machinery
It may also cover smaller tools such as drills, saws and power tools. Essentially, any equipment utilised for construction, manufacturing, or operational purposes may be classified as plant and equipment. For a comprehensive understanding of what qualifies and to ensure appropriate coverage, consulting with Insuregroup’s specialist machinery and equipment insurance brokers is recommended.
How long does the process take?
Can you produce certificates of insurance immediately?
Does Insuregroup shop around extensively?
What if I need to know more about insurance covers?
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 about the coverage before committing to anything. If you feel you would like to learn more about insurance covers for commercial, industrial, construction and mining industries, we invite you to call us on 1300 760 552 so our friendly team can answer any queries you may have. We believe that informed decision-making is the key to choosing the right insurance protection for your unique needs, and we are always here to help guide you through the process.
I’ve just purchased a new piece of heavy machinery – when should I look at insurance?
Insurance timing depends on factors such as ownership arrangements, how the equipment will be used and where it will be stored or operated. Some buyers review insurance immediately after purchase, while others review existing arrangements if usage or risk exposure changes.
Can insurance be arranged before equipment is delivered or put into operation?
Depending on how the equipment is purchased and when ownership transfers, insurance may be considered before delivery or first use. These details can be clarified during the quote process so cover aligns with the timing of your purchase.
If I already have insurance, do I need to update it after purchasing new equipment?
Where plant or heavy machinery has been added to operations, any existing insurance may need to be reviewed. Our brokers can support you with this review and assist with sourcing updated or new insurance options where required.