What is Plant & Machinery Insurance?
Plant and machinery insurance is a specialised policy designed to cover motorised equipment used in various industries. This includes mobile plant machinery, such as cranes, bobcats, and bulldozers, which are essential for day-to-day operations but not typically used on public roads.
Why is Plant & Equipment Insurance Important?
Plant and equipment insurance is crucial for businesses that rely on machinery for their operations. It safeguards your investment against unforeseen events, such as theft or damage, which can cause significant financial loss and operational disruptions. Mobile plant and machinery insurance is especially important for contractors who use this equipment on various sites. Protecting your assets ensures that your business can continue to function smoothly, minimising downtime and maintaining productivity.
Plant & Machinery/Equipment Insurance Comparison
Plant and Machinery insurance covers a wide range of equipment used in industries like construction, mining, and agriculture. Plant and equipment insurance generally refers to fixed assets on-site, while mobile plant and machinery insurance focuses on movable assets like excavators or cranes. Contractors may need a plant and machinery insurance policy to protect against accidental damage or theft, ensuring business continuity. This coverage, often termed contractors plant and equipment insurance, safeguards valuable assets both on-site and in transit.
What Can Plant & Machinery Insurance Cover?
- Material Damage: Covers the cost of repairing or replacing damaged equipment.
- Business Interruption: Provides financial compensation for lost income due to equipment downtime.
- Property Damage: Covers damage caused by your equipment to third-party property.
- Road Risk: Includes coverage for equipment transported on public roads.
- Dry Hire: Ensures rented equipment is covered while in your possession.
- Industry Specific: Cover can include options for specific industries (eg. Concreting and include the transporting of the equipment).
What Isn’t Covered?
- Wear and Tear: Damage due to normal usage and aging of equipment.
- Intentional Damage: Any deliberate damage caused by the operator.
- Unapproved Modifications: Damage resulting from unauthorized modifications to the equipment.
- Operational Errors: Mistakes made during the operation of the machinery that are not covered under policy wording.
Plant & Machinery Insurance Policy
A Plant and Machinery insurance policy from Adroit provides comprehensive coverage tailored to your business needs. It typically includes protection for material damage, business interruption, property damage, and more. The policy duration and specific terms are outlined in the policy wording and product disclosure statement. Our package policies can be customised to cover specific equipment, such as concreting equipment and scissor lifts, ensuring that all aspects of your operations are safeguarded.
Why Choose Adroit for Your Plant & Machinery Insurance?
Choosing Adroit for your Plant and Machinery insurance means opting for a trusted partner with extensive industry knowledge. Our advisers offer personalsed service, ensuring you get the best plant insurance quote and comprehensive coverage that meets your specific needs. With Adroit, you can rely on our expertise to protect your valuable equipment and keep your business running smoothly. Get in touch with us today to discuss your insurance requirements.
Contact Adroit Today
Don’t leave your valuable equipment unprotected. Contact Adroit today and get high-quality Plant and Machinery insurance that offers superior value and peace of mind. Our team of experts is ready to help you find the right coverage for your business. Secure your operations and ensure continuity with our tailored insurance solutions.
Frequently Asked Questions
You need specialised plant and machinery insurance to cover the risks associated with operating heavy and mobile equipment. This insurance protects against damage, theft, and other potential losses.
Items typically covered include cranes, bobcats, bulldozers, concreting equipment, scissor lifts, and other motorised machinery used in construction and similar industries.
The insurance premium for plant and equipment is calculated based on factors such as the value of the equipment, the level of coverage required, the operational risks, and the business’s claims history. Contact Adroit for a detailed plant insurance quote tailored to your needs.