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Specialist Insurance Brokers For
Plant and Machinery Insurance
Tailored insurance options for the plant, machinery and equipments.
- Tailored advice from experienced insurance brokers
- Insurance options for individual machines through complex plant fleets
- Customisable insurance options for owned, hired and operated equipment
Plant and Machinery Insurance
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Our Expert Advice
What Can Plant and Machinery Insurance Cover?
Plant and machinery insurance can vary significantly between insurers. KBI can help review the available options and structure coverage to suit your equipment and operations.
Depending on insurer appetite and policy design, Australian plant and equipment policies may combine material damage with selected road risk or registered-item liability, public liability, business interruption, hired-in plant or other extensions. These features are not automatic and may require separate sections, limits or policies.
Material Damage
Cover for insured plant and machinery following accidental physical loss or damage, subject to the terms and conditions of the policy.
Theft
Cover may be available for theft of insured plant and equipment, subject to policy definitions, exclusions, conditions and security requirements. Fire, Storm and Other Insured Events. Cover may be available for physical damage caused by events such as fire, storm and other insured perils.
Mobile Plant Liability
Liability cover may be arranged for certain plant and machinery exposures, including registered plant or equipment where applicable.
Public & Products Liability
Businesses operating machinery can also have significant third-party liability exposures. Public liability insurance may respond to the insured’s legal liability for third-party personal injury or property damage arising from covered business activities, subject to the policy terms.
Hired-In Plant
If your business hires machinery from another company, cover may be available for specified contractual exposure to hired equipment. The available cover, limits and conditions depend on the policy wording, insurer acceptance and hire agreement.
Hired-Out Plant
Businesses that hire their own machinery to customers may require specific insurance arrangements depending on whether equipment is supplied with an operator, without an operator, or under other contractual arrangements.
Equipment in Transit
Depending on the policy, protection may be available while insured machinery is being transported between locations or job sites.
Business Interruption
A serious machinery loss can affect more than the asset itself. Where available and selected, business interruption cover may respond to specified financial loss resulting from an insured event, subject to the applicable limits, excess or waiting period, indemnity period and policy terms.
Machinery Breakdown
Mechanical or electrical breakdown may require specific machinery breakdown cover rather than standard material damage cover. KBI can help assess whether and how breakdown exposures may be addressed within your broader insurance program
What Is Plant and Machinery Insurance?
Plant and machinery insurance is designed to help protect businesses against financial loss when important plant, machinery or equipment is damaged, lost or involved in an insured incident.
For businesses operating in mining, civil construction, earthmoving, engineering, manufacturing and other equipment-intensive industries, machinery can represent a significant investment. An unexpected incident can create more than a repair bill – it can lead to project delays, lost revenue, additional hire costs and contractual issues.
Plant and machinery insurance may be structured to respond to insured loss or damage affecting individual machines or an entire fleet, with cover selected according to how and where the equipment is used.
Depending on insurer appetite, the selected policy and your requirements, cover may include material damage, liability, business interruption and other specialised extensions. Limits, excesses, exclusions and conditions apply.
Tailored Insurance for Your Equipment and Operations
At KBI, we take the time to understand your machinery, operating environment, contractual obligations and risk exposures before approaching the insurance market.
Whether you operate one excavator or manage a large fleet of specialised equipment, we can help structure an insurance program around the risks that matter to your business.
What Types of Plant and Machinery Can Be Insured?
We can help arrange insurance for a wide range of mobile plant, heavy machinery and specialised equipment. Examples may include:
Subject to insurer appetite, underwriting criteria and policy terms, cover may be available for earthmoving equipment, cranes, forklifts, telehandlers, drilling and paving equipment, quarrying machinery and other specialised plant.
01
Excavators
02
Bulldozers & Dozers
03
Loaders & Skid Steers
04
Graders & Rollers
05
Cranes
06
Forklifts & Telehandlers
07
Boom Lifts & Scissor Lifts
08
Drilling Equipment
09
Crushing & Screening Equipment
10
Concrete & Paving Equipment
11
Generators & Compressors
12
Quarrying Equipment
13
Mining Equipment
14
Agricultural & Forestry Machinery
15
Attachments & Specialist Equipment
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Why Is Specialist Plant and Machinery Insurance Important?
Heavy machinery can be expensive to repair or replace, while equipment downtime can quickly affect project schedules, revenue and contractual commitments.
Insurance should therefore consider more than the replacement value of the machine. Important factors can include:
01
Equipment Type & Value
02
How the Machinery Is Used
03
Operating Locations & Work Sites
04
Mining, Civil or Construction Activities
05
Owned, Hired-In or Hired-Out Equipment
06
Dry Hire & Wet Hire Exposures
07
Transportation Between Sites
08
Attachments & Accessories
09
Claims History
10
Risk Management & Security
11
Contractual Requirements
12
Required Limits & Excesses
What Does Plant and Machinery Insurance Not Cover?
Plant and machinery insurance does not automatically cover every event or business exposure.
Exclusions and limitations vary between insurers and policies. The following examples are illustrative only and are not a complete statement of exclusions or conditions:
- Wear and tear or gradual deterioration
- Certain mechanical or electrical breakdowns unless specifically insured
- Undisclosed uses or activities
- Equipment exceeding agreed operating parameters
- Certain damage arising from defective maintenance
- Uninsured attachments or accessories
- Contractual liabilities outside agreed policy coverage
- Unapproved operators or uses where specified by the policy
- Losses below the applicable excess
The exact cover, exclusions, sub-limits, excesses, conditions and endorsements depend on the insurer and the final policy wording, schedule and supporting documents.
KBI can help explain key proposed policy terms, exclusions and limitations and identify matters requiring further clarification or consideration before placement.
Plant and Machinery Insurance FAQs
Is plant and machinery insurance the same as plant and equipment insurance?
The terms are often used to describe similar types of insurance. You may also see terms such as mobile plant insurance, machinery insurance, heavy machinery insurance or mobile plant and equipment insurance. The important consideration is not the name of the policy, but whether the coverage is appropriate for the particular machinery, its use and your business exposures.
Can I insure a fleet of plant and machinery?
Can hired machinery be insured?
Does plant insurance cover machinery breakdown?
Can plant being transported between sites be covered?
Can KBI arrange insurance insure mining and earthmoving equipment?
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