Mobile Plant & Equipment Insurance

Mobile plant and equipment insurance provides protection against theft or damage for plant and most types of equipment owned or used by you. Examples can include bobcats, cranes, excavators, scissor lifts, skid loaders, concreting equipment forklifts, farming machinery, trailers, trucks and lifting equipment.

Important to note motor plant and equipment insurance covers the loss or damage to the plant or equipment and the liability component is covered under a separate liability policy.

Damage to Machines – Replacement value on machines up to 60 months old or sum insured.  For machines greater than 60 months old the lesser of repair, market value or sum insured, however, in the event of a total loss and market value is 85% or more of the sum insured then the sum insured applies. If market value is less than 85% of the sum insured then market value plus 15%.

Registered Machine Liability up to $30M – with a $500,000 sub limit available for dangerous or hazardous goods.

General Liability up to $30M

• Property in the Insured’s Physical Possession or Legal Control – $250,000* each Occurrence and in the aggregate during the Period of Insurance.
• Vibration, Removal/Weakening of Support – $500,000* each occurrence and in the aggregate during the Period of Insurance.
• Hook Liability – $250,000* each Occurrence and in the aggregate during the Period of Insurance.

• Accessories, Tools and Spare Parts up to $25,000
• Appreciation in Value for Machines
• Damage to Lifted Goods up to $25,000
• Deemed Total Loss
• Employees Personal Property up to $5,000
• Expediting Costs up to 25% of damage or $100,000 (whichever is the lesser)
• Extended Warranties – This additional cover allows for the valuation to include the pro-rated cost for the unused portion of non-refundable extended warranties, maintenance contracts or service contracts that the insured purchased, which are no longer valid on damaged machines that the insured repaired or replaced.
• Extra Costs of Reinstatement – 10% of Sum Insured in Schedule and Hire Agreement (whichever is lesser)
• Fire Brigade and Emergency Services Charges up to $20,000 any one Period of Insurance
• Funeral Expenses up to $5,000 any one Period of Insurance
• Hired in Machines up to $50,000 in the aggregate any one Period of Insurance
• Hired out Machines – (without employee) – Limit: As per Sum Insured in Schedule
• Lock and Keys – $2,500 per Machine, $10,000 any one Period of Insurance
• Machines Under Finance – GAP Cover
• Protection, Recovery and Removal (Damage) – Limit $250,000 or Machine Sum Insured (whichever is the lesser)
• Recovery Costs (No Damage) Limit: $50,000
• Repatriation of Employees Limit: $5,000
• Removal of Debris
• Signwriting
• Substitute Machines
• Undamaged Ancillary and/or Peripheral Equipment
• Windscreen – 1 excess free windscreen per machine and five excess free windscreens within any one Period of Insurance.
• Automatic Additions – Limit: $250,000 – 120 day notification period