Plant and Machinery
Insurance Specialists
Plant and machinery operators are exposed to large public liability risks and the potential to lose expensive plant, machinery and equipment, to fire or theft, or malicious or accidental damage. This makes identifying suitable plant and equipment Insurance at competitive prices essential to the functioning and long-term success of your business.
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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 large machinery or smaller tools, we work alongside you to identify the coverage that is appropriate to your specific 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. We take the time to assess your business’s unique requirements and potential risks so that we can recommend policies that offer adequate risk protection for your equipment and machinery.
Comprehensive Equipment & Machine Breakdown Insurance
COMPREHENSIVE COVER
Comprehensive insurance cover designed to protect your plant and equipment business investment.
EXPERT ADVICE
Insuregroup is a specialist insurance supplier for the heavy equipment industry with expert advice.
QUICK QUOTES
Is your machinery under finance? We can arrange prompt quotes to ensure you meet your insurance obligations.
SUITE OF COVERS
We have a suite of covers for plant and equipment operators such as commercial and industrial machinery cover, public liability plus more.
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 protection that goes beyond just covering damage. With appropriate coverage in place, you can feel prepared and reduce financial strain and stress in the face of unexpected events.
While each insurer may offer different policy terms regarding how plant machinery and equipment is covered, common types of coverage include:
Material Damage
Protection against damage caused by fire, storms, theft, or accidents.
Theft and Vandalism
Covers repair or replacement costs if your equipment is stolen or damaged.
Accidental Damage
Coverage for accidental harm to machinery during operation.
Breakdown and Machinery Failure
Helps cover repair or replacement costs for machinery breakdowns.
Liability
Protects against damage or injury caused by your machinery to third parties.
Business Interruption
Compensates for lost income if machinery breakdowns disrupt operations.
Operator’s Liability
Coverage for operators if they cause accidents while using machinery.
Wet and Dry Hire Coverage
Coverage to ensure that when hiring out or leasing equipment, both you and the hirer are protected.
Transportation and Transit
Protects machinery during transport between job plant machinery sites.
At Insuregroup, we understand the unique risks your business faces, and we’re here to help you find insurance solutions that help keep your operations running smoothly when the unexpected happens. Our experienced brokers will work with you to identify a policy with coverage that suits your needs.
What Does Plant And Equipment Insurance Cover?
Plant and 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.
However, coverage specifics can differ between insurance providers, so it’s important to consult with Insuregroup to ensure that your policy will appropriately protect your equipment and machinery.
Which Industries Benefit From Plant And Equipment Insurance?
Plant and 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
Construction businesses depend heavily on machinery such as cranes, excavators, bulldozers, and backhoes. Plant and equipment insurance ensures that these vital assets are protected from damage, theft, or breakdown, minimising costly downtime.
Agriculture
Farmers and agricultural businesses use machinery such as tractors, harvesters, and irrigation systems. Plant and equipment insurance protects these assets from wear and tear, theft, and damage, supporting continuous operation during peak seasons.
Landscaping and Civil Works
Landscaping companies and civil contractors rely on equipment such as skid steers, trenchers, and compactors. Insurance can help keep projects on track by covering machinery in use and during transportation.
Heavy Equipment Rental
For businesses that rent out machinery, plant and equipment insurance protects both the equipment and the rental company. This coverage is critical for maintaining operations and protecting against potential damages or theft while the equipment is in use by others.
Mining
Mining operations rely on specialised machinery to extract and transport resources. Insurance covers equipment like drills, loaders, and haul trucks, safeguarding operations in harsh and often unpredictable environments.
Transport & Logistics
Manufacturing
Manufacturing facilities often operate large machinery such as conveyors, pumps, and generators. Insurance safeguards these machines against unexpected issues, helping to ensure that production lines remain uninterrupted.
Whether you’re in construction, mining, agriculture, or any other industry requiring heavy machinery, at Insuregroup, we offer access to a range of competitively priced solutions to suit the specific needs of your industry.
Online Insurance Quote
Please select from the options as required. You can select one or more options.
Complete the form below to receive a quote.
Completing the form usually takes 5 minutes.
Having trouble with the form? Contact Insuregroup click here
Insuregroup is an insurance business with access to over 100 national and international insurance markets – and we combine this with prompt service and expert advice. We are experts in plant and equipment insurance and can source insurance specific to plant, machinery and equipment operators – Australia wide!
Our
Process
The Insuregroup insurance process – insurance solutions on demand.
We’ve streamlined our process to make arranging insurance fast and straightforward.
Simply complete our online quote form with a few details and we’ll compare options from our network of insurers. Most quotes are turned around within 24 hours.
01
Submit a Quote Request
Online or Call Us Directly
Start by submitting a quote request through our online form or by calling our team. Provide your business and machinery details, and we’ll begin sourcing the most suitable machinery equipment insurance options for you.
02
We Source
Competitive Quotes
We search a wide network of reputable insurers to find the most competitive and relevant policies for your machinery, operators and equipment – typically within 24 hours.
03
Receive a Clear,
Detailed Quote Summary
We present the available options in a clear, easy-to-understand email summary, outlining coverage, pricing and key inclusions tailored to your needs.
04
Finalise
& Get Covered
Once you’re satisfied with the recommended policy, simply accept the quote. We’ll handle the paperwork and activate your cover quickly – often on the same day.
FAQs
What is machinery and equipment insurance?
Machinery and equipment insurance, also known as plant and equipment insurance, safeguards your business assets by covering a range of risks associated with machinery and equipment used in operations.
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?
Neglecting machinery insurance can lead to significant financial setbacks. Without coverage, your business would bear the full cost of repairing or replacing damaged or stolen equipment.
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?
Yes, Insuregroup can assist in providing insurance certificates required for financing machinery and equipment. Lenders often request proof of insurance to protect their investments. Once your policy is in place, we can promptly issue the necessary certificates for compliance with financing agreements and to facilitate the release of funds.
Are the operators of the machinery covered as well?
Operator coverage varies depending on the specific terms of your insurance policy. Some policies include liability coverage for operators while using the machinery, protecting against third-party claims for bodily injury or property damage. It’s essential to review your policy details or consult with a specialist in this area, such as Insuregroup, to confirm the extent of operator coverage included and ensure it meets your needs.
Are work tools covered, or do I need separate tools insurance?
Coverage for work tools depends on your machinery insurance policy. Some policies may cover tools as accessories, while others might exclude them, requiring 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?
The cost of plant equipment and machinery insurance varies based on several factors, including the type and value of the equipment, usage frequency, industry risks and desired coverage limits.
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?
When discussing machinery equipment insurance, CPE stands for Contractors Plant and Equipment. It refers to machinery and equipment used by contractors in construction and related industries. CPE insurance policies are designed to cover these specific assets against risks such as damage, theft and liability during operations.
What qualifies as plant and equipment?
In terms of machinery equipment insurance, what is counted as plant and equipment encompasses a wide range of machinery and tools used in various industries. This includes items like:
- 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?
We combine expert advice with prompt and professional service. Our goal is to prevent loss and minimise risk, and that’s why we strive to connect with you within 24 hours for any repair or replace claims.
Can you produce certificates of insurance immediately?
Yes, 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.
Does Insuregroup shop around extensively?
Insuregroup has access to an advanced online database with over 100 insurance markets available to us both nationally and internationally. We regularly research insurance markets in Australia and in London to ensure that we are quoting the most cost effective and cover competitive plant and equipment insurance available. We understand that your needs are unique and we will deliver an insurance product that keeps your business covered to prevent financial loss.
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.