Plant and equipment insurance provides an indemnity for all plant and equipment, owned or used, for which the company may be responsible. SHC Insurance Brokers is increasingly the construction industry, builders' and developers' partner of choice for commercial solutions, including plant and equipment insurance.
About plant and equipment insurance cover
Plant and equipment insurance covers companies, contractors or sub-contractors from theft, damage or breakdown cover of large-scale building equipment, such as trade machinery, excavators, earthmovers, forklifts, skid-steers, and cranes. It covers registered and unregistered mobile plants, as well as equipment taken to job sites.
What does mobile plant and machinery insurance cover
Plant and equipment Insurance covers a wide variety of plant and mobile construction and industrial equipment, including:
- Bobcats
- Asphalting machines
- Forklifts
- Trucks
- Trailers and attachments
- Concreting equipment
- Excavators
- Mobile cranes
- Scissor lifts
The mobile plant equipment can be unregistered, conditionally registered or fully registered.
Types of insurance include:
- Accidental damage/ theft: covers the costs of repairing, reinstating, or replacing the damaged parts or accessories, paying the sum insured or market value, or replacing the item and accessories.
- Public and product liability: covers personal injury or property damage due to an occurrence in connection with your business or caused by your products.
- Road risk: covers personal injury due to an accident if the unit is unregistered, plus damage to property on a public road or public area.
- Business interruption: pays an agreed weekly benefit if a listed item is damaged. The cover starts from the time of the accident until repaired.
Who should consider plant and equipment Insurance?
Any owner or operator of plant or machinery should consider plant and equipment insurance options.
