Plant and Equipment Insurance | Master Builders Insurance Brokers

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Plant and Equipment Insurance

Broad coverage for static and mobile equipment.

Cover for

Material damage
Equipment in transit
Dry hire for owned equipment
Unspecified attachments


Covered equipment

Tower cranes
Earthmoving equipment
Aerial access equipment
Drilling and concreting equipment

What is Plant and Equipment Insurance?

If you are a contractor or sub-contractor, protecting your equipment from theft, damage or breakdown is critical for your business.

Plant and Equipment Insurance provides an indemnity for all plant and equipment of every kind and description owned or used by you or for which you may be responsible from time to time.

This policy needs to be carefully considered, as many contractors' Plant and Equipment policies vary with respect to the sum insured. In some cases, insurers will impose a true market value definition as the sum insured. Alternatively, other insurers provide a replacement value for a limited period of time (generally the first 12 months).


Key benefits
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Cover for spare parts and tools
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Includes hired-in plant and equipment
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Agreed value available on request
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Cover for any equipment

What does a Plant and Equipment policy cover?

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Material damage to the plant and equipment

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Portable tools and spare parts

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Dry hire for the equipment you own

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Transit cover to and from worksites

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Unspecified attachments (limits apply)

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Non-aggregation of excess (conditions apply)

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Agreed value when requested

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Hired-in plant and equipment

Why do you need this policy?

Here's an example:


Brad arrived at work to find that his excavator left securely on-site overnight was no longer there.

He immediately contacted the police and reported it stolen.

As the vehicle was less than twelve months old, Brad was able to claim the agreed value for the machine. He was also able to hire a similar machine at the Insurer's expense and continue to work, so he did not lose any income.

Advice from our experts:

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Your plant & equipment can generally be covered for the majority of exposures by adding this section to your contract works & liability policy. There is a standalone option available which provides coverage extensions to include breakdown cover and consequential loss (income loss due to damage to plant & equipment).

Joe Keiper Southern Region Manager

Why choose Master Builders Insurance Brokers?

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Brent  Cooper
Brent Cooper
Business Development Team Leader

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