Does your business rely on heavy machinery? There is nothing worse than additional hire costs and potential delay costs when heavy equipment gets stollen or damaged. Having the right equipment and machinery insurance is smart protection for your business.
What does machinery insurance cover?
If your business owns, operates, or hires heavy machinery, then you may want to consider taking out plant and machinery insurance to ensure you have the cover you need, when you need it.
Plant and machinery insurance covers a broad range of risks including:
- physical damage to owned machinery (including down hole if required)
- breakdown cover
- conditional rego liability
- hired – in plant
- dry hired plant and equipment
- wet hired plant and equipment
- business interruption and down time costs
If you have machinery, we can get it covered.
Consider the type of coverage you need
Most operators know their limits and take pride in their machines. But you would be surprised how often crush damage, rollovers and submersions occur. It’s our job to make sure you have the insurance to reinstate what you had in a worst-case scenario.
Do you have the means to pay for hired machinery if a key plant item takes time to be repaired? Often, delay costs will outweigh hired in plant costs. However, if you can’t afford either, then you need to make sure that the cost of the hire (for replacement machinery) is covered in your insurances.
Theft and malicious damage can also be a major disruption that you should consider when taking out coverage. Machines on site can be very difficult to protect. Excess levels, or even theft exclusions, can surprise the contractor at time of claim.
We work with you to keep theft excess at an acceptable level and can recommend tracking devices approved by insurance providers.
Are you covered for recovery if your machine isn’t damaged? Some policies require that there is evidence of damage for them to pay for the recovery efforts.
To make the claim process easier for you, we can help show you the benefits of a well-rounded machinery insurance policy.
Discuss your machinery insurance cover with your broker!
Machinery insurance should be tailored to suit your company’s risk profile. Every contractor has risk specific to their environment and the insurance needs to address them appropriately. We’re here to help!
Find the right machinery insurance coverage for your business by getting in touch with our team today!
