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Heavy Plant & Machinery Insurance Queensland


The earthmoving industry is heavily reliant upon insurance protection. With high valued machinery and employed personnel working in high risk environments, it is common in this industry for substantial losses to occur. Wet hire on building sites accounts for 45% of industry revenue with the contracting work on building sites usually involving land clearing and leveling work for – residential subdivisions (including local road preparation), factories, warehouses and other commercial premises. Contractors in this sector usually have the ability to tackle a range of tasks involving varying terrains, therefore creating room for error and misjudgment.
Most plant machinery assets are under finance, requiring insurance protection prior to settlement and collection. Finance companies are becoming more onerous on how the item is insured and under what conditions.

Who needs Heavy Plant & Machinery Insurance?


Any business that owns or operates plant machinery, also including site supervisors and consultation services.


What does Heavy Plant &  Machinery Insurance cover?


- Material Damage - Physical loss of damage including but not limited to accidental damage, malicious damage, fire, storm, flood, theft ect
- Road Risk Liability - Property damage and/or personal injury caused by a registered motor vehicle or plant item whilst being used as a vehicle
- Breakdown - Electrical or mechanical breakdown to a plant machinery item, subject to the insurers consideration, limitations and restrictions
- Hire In Plant - Material damage cover for hired in plant machinery, owned by third parties, including ongoing hiring charges
- Broadform Liability - Property damage and/or personal injury caused by the business and it's employees during the course of business operations (commonly onsite or whilst operating). Includes cover for vibration or weakening / removal of supports, goods in your physical or legal control and underground services damage
- Substitute Hire Costs - Reimbursement of hire costs following a material damage loss
- Finance Payment Protection - Reimbursement of finance repayments following a material damage loss, cannot be claimed with substitute hire costs
- Windscreen Replacement - Up to $10,000 in the aggregate during the period of insurance for replacement of a damaged windscreen
- Dry Hire - Material damage cover for your items whilst hired to a third party without an operator
- Market Value Plus - Additional 15% payout benefit if the market value is less than 85% of the nominated sum insured.

Plus many more additional benefits which can be included depending on your individual needs.


Heavy Plant & Machinery Insurance Advice

For assistance in obtaining insurance, underwriters/advisers will be interested in:

  • The types and full specifications of all machinery and equipment to be insured (age, make, model, condition, usage, registration number, capacity, location and value) and whether the item is registered or unregistered
  • The nature of work undertaken in connection with plant operations and operating environment, for example whether the ground is sloping, uneven or soft and whether any machines are operated in tidal areas, in or under water, underground
  • Likely weather conditions
  • Details of any hired in equipment required to be insured and whether these are to be rehired or on-hired
  • Details of any pre-existing damage
  • Radius of operation and storage location
  • The operators' experience in handling such equipment since such items often require special training and handling skills
  • The training program for newly hired workers
  • The maintenance program adopted for such vehicles including whether they are subject to regular inspections by a competent inspector
  • The claims experience preferably over the last 5 years
  • WH&S processes and procedures
  • Onsite documents and other risk management procedures
  • What theft protection has been implemented, including GPS systems and immobilisers
  • Is the business obtaining copies of the relevant authorities plans when working with underground utility exposures.


Heavy Plant & Machinery Insurance Brokers


Our Brisbane Insurance Brokers can help you get the right insurance cover by assessing your specific needs and recommending the best value insurance solution for your business, whilst still maintaining the highest standard of cover.

Contact us today to get  a Heavy Plant & Machinery Insurance Quote.


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