Plant & Equipment Insurance
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Plant & Equipment Insurance — Protect Excavators, Loaders & Site Plant
Plant & equipment insurance protects mobile and stationary plant — excavators, loaders, forklifts, attachments and towable plant — against accidental damage, theft and onsite incidents. Bracesure sources specialist cover with agreed values, hire costs, transit and on‑site damage options to keep projects moving and limit financial disruption.
Key facts
- Covers mobile and static plant, attachments and hired‑in equipment
- Options: agreed value, loss of hire, theft and accidental damage
- Transit and on‑site cover for construction sites
- Combined motor/plant programs available for mixed fleets
- Australia‑wide placements and claims support
Plant and equipment are critical assets for construction, civil works, quarrying, agriculture and hire businesses. Damage, theft or breakdowns cause immediate project delays and significant expense. Specialist plant insurance ensures quick repair or replacement, and options like loss of hire help maintain cashflow during downtime.
Who needs plant & equipment cover
- Construction and earthworks contractors
- Hire companies and rental fleets
- Quarrying and mining contractors
- Agricultural contractors with heavy machinery
- Municipal and civil works operators
Core covers & extensions
Covers physical loss or damage to plant from collisions, overturns, fire, flood and theft.
Covers theft of whole units and attachments; security conditions may apply.
Protects plant while being moved between sites on trailers or carriers.
Replaces income or hire fees lost while plant is out of service for repair or replacement.
Agreed value provides certainty on replacement payouts; market value pays the depreciated value at loss.
Covers plant you hire from others and may be an employer requirement at some sites.
Optional cover for sudden and unforeseen mechanical breakdowns (subject to maintenance conditions).
Ensure attachments (buckets, breakers, forks) are included or scheduled.
Underwriting factors
- Plant age, maintenance and service history
- Security measures and storage/garaging practices
- Usage intensity and site conditions (high‑risk vs controlled sites)
- Transport arrangements and type of towing equipment
- Hired vs owned plant proportions and hire agreements
How Bracesure places plant programs
Plant schedule:
We prepare a detailed schedule of plant, values, serial numbers and attachments.
Market approach:
We approach insurers that specialise in construction/hire risks for competitive options.
Policy structure:
We recommend agreed value where replacement certainty matters and loss of hire when income replacement is critical.
Documentation & compliance:
We supply certificates, schedules and endorsements required for site contracts and principal contractors.
Claims assistance:
Fast claim lodgement support and negotiation to minimise downtime and financial impact.
Practical risk controls to protect plant
- Secure storage and immobilisation devices for off‑site plant
- Regular servicing and detailed maintenance logs
- Transport safety checks and certified carriers for plant movements
- Attach clear identification and asset numbering
- Rapid incident reporting and salvage procedures
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Frequently asked questions (FAQs)
Loss of hire replaces income lost when insured plant is out of service following an insured event, based on agreed hire rates and waiting periods.
Agreed value is recommended where quick replacement or predictable payouts are important; it usually costs more than market value
Transit cover is often optional; ensure plant is covered while being moved between sites or during delivery.
Attachments can be included if scheduled or specifically endorsed; check policy wording for limits and exclusions.
Hire companies often require loss of hire and broader transit and theft protections due to higher utilisation and turnover.
Insurers expect regular servicing; failure to maintain plant may invalidate some mechanical breakdown claims.
Yes — policies can include hired‑in plant, but terms and limits may differ from owned plant cover.
Simple schedules: Same day or 24–48 hours. Large fleets or high‑value plant: 48–72 hours to obtain tailored terms.