Plant & Equipment Insurance
Your plant and equipment are essential to getting the job done. Protect your machinery against risks such as accidental damage, theft and other insured events.
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1200+
Businesses covered
250+
Referral partners
98%
Retention rate
What is Plant & Equipment Insurance?
Plant and equipment insurance is designed to protect the machinery and equipment your business relies on. This can include mobile plant, earthmoving equipment, construction machinery and other specialised equipment.
Plant can represent a significant investment and may operate across multiple worksites or in demanding environments. A major loss can affect both the value of the equipment and your ability to keep working.
Surety Risk Solutions takes the time to understand your equipment, how and where it's used, its value and the risks associated with your operations before helping you arrange appropriate cover.
Protection for the Equipment Your Business Relies On
Plant and equipment risks vary considerably depending on the machinery and how it's used. Understanding your operations helps us identify the cover that should be considered.
Accidental Damage
Cover can provide protection against certain accidental loss or damage to insured plant and equipment while it's being used or stored.
Theft
Plant and equipment insurance can provide protection against theft or attempted theft, subject to policy conditions and security requirements.
Transit & Movement
Depending on the policy, cover may extend to insured plant and equipment while it's being transported or moved between locations and worksites.
Machinery Breakdown
Some policies can include machinery breakdown or other specific protection for certain equipment. Where breakdown is an important exposure, we can consider the available options.
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Cover for Businesses That Depend on Plant & Machinery
From a single excavator to a larger schedule of machinery, plant and equipment insurance can be structured around the equipment your business owns, hires or operates.
Construction & Civil Contractors
For businesses operating excavators, loaders, compactors and other machinery across construction and civil worksites.
Earthmoving Businesses
For operators relying on earthmoving equipment that regularly works across changing sites and operating conditions.
Trades & Contractors
For contractors using specialised plant and equipment as an essential part of delivering their services.
Agriculture & Other Industries
For businesses operating specialised machinery and equipment where damage, theft or breakdown could significantly affect operations.
Let's Start the Conversation.
Whether you're a business looking for commercial insurance or an adviser looking to broaden what you offer, the first step is the same. Tell us a little about the situation and we'll put you with the right specialist.
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A Practical Approach to Plant & Equipment Insurance
The value of the machine is only part of the risk. We look at the equipment itself, how it's used, where it's stored and transported, and the role it plays in your business.
01. Understand Your Equipment
We review your plant and equipment schedule, values, attachments, accessories and any specialised or modified machinery.
02. Understand How It's Used
We consider where the equipment operates, what work it performs, who operates it, how it's stored and how it's transported between locations.
03. Approach the Insurance Market
Surety Risk Solutions approaches suitable insurers and underwriting agencies and considers available cover, excesses, conditions and relevant policy options.
04. Explain Your Options
We explain the available terms and important differences between policies so you can make an informed decision about protecting your plant and equipment.
Why Surety Risk Solutions?
Plant and equipment can be one of the largest investments a business makes. We take the time to understand both the machinery and the work it performs before approaching the insurance market.
We Understand the Equipment
The type, value and use of plant can significantly affect the insurance required. We gather the detail insurers need to properly understand your equipment and operations.
Access to Specialist Markets
We work with insurers and underwriting agencies offering insurance solutions for a broad range of plant, machinery and equipment.
We Consider More Than Value
Attachments, transport, hired equipment, security and operating conditions can all affect your exposure. We consider these factors when discussing your insurance needs.
Support as Your Equipment Changes
Businesses regularly buy, sell, replace and upgrade equipment. We remain available to help manage policy changes, renewals and claims as your equipment schedule evolves.
Your Questions, Answered
Understanding your insurance options can feel complex. Explore answers to some frequently asked questions about cover, costs and what to expect when arranging insurance with Surety Risk Solutions.
What is plant and equipment insurance?
Plant and equipment insurance is designed to protect machinery and equipment used by a business. This can include mobile plant, earthmoving equipment, construction machinery and other specialised equipment.
What types of plant and equipment can be insured?
Depending on the insurer, cover may be available for excavators, loaders, forklifts, cranes, earthmoving equipment, agricultural machinery and other mobile or fixed plant. The equipment and how it is used will determine the most appropriate cover.
Does plant and equipment insurance cover theft?
Theft can be covered under many plant and equipment policies, subject to the policy terms and security requirements. Insurers may ask about storage, immobilisers, tracking devices and other theft-prevention measures.
Can hired plant and equipment be insured?
Cover can often be arranged for plant that your business hires or leases. Hire agreements can also create contractual responsibilities, so these should be considered when arranging insurance.
Can plant and equipment be covered while being transported?
Many policies can provide cover while insured equipment is being transported, but the extent of cover depends on the policy and method of transport.
Does plant and equipment insurance cover breakdown?
Some policies can include machinery breakdown or other specific cover, while others primarily cover accidental damage and theft. If breakdown is an important exposure for your business, it should be specifically discussed.
Can attachments and accessories be included in the cover?
Yes, attachments and accessories can often be insured, but they need to be properly identified and valued. This is particularly important where attachments represent a significant part of the equipment's overall value.
How should I calculate the value of my plant and equipment for insurance?
The appropriate basis of valuation depends on the policy. It's important to understand whether equipment should be insured for replacement value, market value or another basis and to regularly review those values as equipment is purchased, sold or replaced.
Still have questions?
Every situation is different, and you may need guidance specific to your circumstances. Speak with Surety Risk Solutions for clear, practical answers and help exploring suitable insurance options.
Let's Start the Conversation.
Whether you're a business looking for commercial insurance or an adviser looking to broaden what you offer, the first step is the same. Tell us a little about the situation and we'll put you with the right specialist.