Commercial Property - Machinery / Plant

What is Machinery and Plant Insurance?

Often provided as part of Commercial Property Insurance, Machinery Plant Insurance provides cover for losses incurred, for both your own plant and hired-in equipment you are using, should it be damaged or stolen.

Cover is usually available both as part of a package or for individual items, starting from small portable tools up to generators and larger items such as forklifts and cherry pickers.

Why does our business need it?

Plant and equipment worth millions is stolen from work depots, construction and business sites each year. Vandalism of this type of machinery, and damage caused through being stored outdoors and exposed to the elements is also a significant problem. There is always a chance of plant and machinery suffering accidental damage too.

If your company-owned or hired-in plant suffers theft or damage, you won’t be able to carry out the work it was brought in for but will still be liable for the hire costs. Machinery Plant insurance can cover the leasing charges that your business is legally responsible for until the situation is resolved.

What does it cover?

Plant insurance can cover you against malicious damage, theft, fire, flood and water damage. Not only for when the equipment is at the worksite, but also when it’s transferred to 
and from the worksite (within agreed distance limits).

The type and level of Machinery Plant Insurance you require will depend on the specific needs of your Construction or Tradesperson business. This is where an expert broker can help you work out what needs protecting.

Machinery Plant Insurance typically includes:

• Cover for your own plant and hired-in equipment against malicious damage, fire, storm, flood and theft 
• Cover for continuing hiring charges while plant is replaced
• Cover for single item hired-in plant can be arranged

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