Keeping you mobile
when things go wrong

Remove the uncertainty

Cover for static and mobile plant equipment, road risk liability and broad form public and products liability for businesses within the mining, excavating/earth moving, crane hire, civil, concreting and/or related industries.

Remove the uncertainty

What is Contractors Plant insurance?

Contractors plant insurance policies provide protection for most types of plant and equipment in the mining, excavating/earth moving, crane hire, civil, agriculture, concreting and/or related industries.

These include:

Cranes / Tower Cranes
Earthmoving Equipment – Backhoes, Excavators
Forklifts / Scissor Lifts
Lifting Equipment
Aerial access equipment
Concrete / Water Truck
Drilling Machines – Rock Breakers / Borers
Farming Equipment / Machinery
Forestry Equipment – Wood Chippers / Mulchers

Who should consider it?

If you are highly dependent on your heavy machinery, then your insurance policy needs to reflect that. If you are unable to use your equipment, then you will lose the potential to generate an income and the risk of equipment damage or loss can be very high. The high costs of your equipment make replacements or repairs very expensive, but having the right coverage can protect your finances from those risks.

The fact that heavy machinery, and the environments where they are most commonly used, are themselves exposed to the risk of accidents means that having the right kind of insurance policy is crucial. That’s why our our specialist broking team members get to know your business enabling them to provide considered advice delivering you the best policy for your specific needs.

Touch base with us to learn how we can help you.

HDL, the right partner for you.

Did you know?

There are two basic types of insurance limits under contractors plant insurance and the industry is facing a significant rise in data breaches and cyber threats.

Market value

This means that your policy will cover the costs of repairs or replacements to the market value of the equipment itself. This is usually done by getting a quote regarding the pre-accident value of the equipment.

Agreed value

If your equipment is written off due to damage or loss, then you may have an agreed value policy that will be used as the basis of your settlement.

Cybercrime is on the rise and can affect any business, and heavy machinery owners and mobile plant operators are no exception. So your policy needs to protect you from this as well as the usual coverages that you would expect. Even cranes can be hacked and used by untrained cybercriminals.

What can it cover?

Contractors Plant insurance policies have some standard elements, as well as unique coverage options essential for your business. Expect to see the following

Type of cover	Potential benefits
Material damage	This protects you from any accidental damages that may happen to your equipment or your plant.
Road risks	If your plant or equipment is registered for road use so that you can get to and from sites, then you need to have liability coverage that covers road use. If you cause any personal Injury and/or property damage while on the road, then this can protect you financially. This can also extend to road vehicles with temporary road permits
Public liability	The potential dangers of a construction or work site are many, and public liability can protect you from claims regarding death, injuries, property damage, or economic loss.
Hired-in plant	Hiring equipment from alternative sources can leave you vulnerable to gaps in your insurance coverage. By including Hired-In Plant coverage, any rented equipment will be insured as if it is your own.
Breakdown	It can cost a lot of money to repair heavy equipment, and you will lose income while repairs are being carried out. Machinery breakdown cover can help to pay for replacement parts or for the total cost of repairs.
Consequential loss	Loss of income cover as a result of damage to a Machine which subsequently causes an interruption to the business and income.
Care, Custody & Control (Hook) Liability	Legal Liability for property damage or destruction to third party property in your physical possession or legal control.

Case study

Frank discovered that his excavator, which was left securely on-site overnight, was no longer there when he arrived the next day. As the excavator was less than twelve months old, Frank was able to claim the agreed value for the machine. He was also able to hire a similar machine with all additional costs paid for by his insurer. This meant that Frank was able to continue to work, so he did not lose any income.

Complimentary Review

Securing optimal insurance protection is becoming more challenging.

Having a fresh set of eyes can make a dramatic difference. HDL welcomes the opportunity to evaluate and challenge your current risk and insurance program in a confidential manner that avoids disrupting existing relationships.