Owned plant schedule
Accidental damage, fire and theft for scheduled machines, generally on an agreed or market value basis.
Contractor Plant Insurance
0418 166 122Compare contractor plant insurance quotes from multiple Australian insurers. Insurance quotes from a licensed Australian broker with Steadfast network access.
By requesting a quote you accept our financial services guide and privacy policy. General information only.
Contractor Plant Insurance
Cover for owned, financed and hired-in contractor plant fleets.
Most contractors do not lose money on the big machine at the top of the schedule. They lose it on the machine they hired, the attachment nobody listed, and the hire charges that kept running after the damage. Contractors plant cover is built to sit across owned, financed and hired-in equipment, and the gaps usually appear where those three meet.
What is it?
A contractors plant policy schedules mobile plant and equipment used away from a fixed premises: excavators, loaders, rollers, dumpers, generators, pumps, compactors, scaffolding, light towers and small tools. Owned machines are usually listed individually with agreed or market values, while small items sit under an unspecified limit. Hired-in plant is added as its own section with a separate sum insured.
What does contractor plant insurance cover?
Hired-in plant liability
Damage to machines you hire, plus the continuing hire charges the agreement makes you liable for.
Unspecified small plant
Tools, pumps, saws and light gear covered to a per-item and total limit rather than listed.
What affects the cost?
- Total sum insured across the fleet
- Split between owned and hired-in plant
- Trade and typical site type
- Overnight storage and yard security
- Excess levels and claims history
Worth raising on the call
- Hire agreements usually make you liable for full replacement value, not the depreciated value.
- Per-item limits on unspecified small plant are commonly set too low for what is actually carried.
- Machines you dry hire out to others are a different arrangement and generally need to be declared.
Claims we are commonly asked about
Hired excavator in a trench collapse
An eight tonne machine hired for a six week job is buried when a trench wall fails. The hire company invoices full replacement value under the hire agreement and keeps charging hire until a replacement machine is supplied, which is usually well above the machine's market value.
Tool trailer opened overnight
A site trailer is cut open and saws, a laser level, a generator and a compactor are taken. Because each item falls under a per item cap in the unspecified small plant section, the payout commonly settles at a fraction of the replacement cost.
Skid steer fire from a burst hose
A hydraulic hose lets go across a hot exhaust manifold and the machine burns on site. Whether the loss is treated as accidental damage or as a maintenance related failure often depends on the wording and the service records available.
Worth confirming in the wording
- Worth confirming the per item and total limits for unspecified small plant, and whether items above a set value must be individually scheduled for cover to apply.
- Worth confirming whether the hired-in plant section covers continuing hire charges and the full replacement value the hire agreement makes you liable for, rather than the depreciated value.
- Worth confirming what the policy requires for a theft claim, such as forcible entry, a locked compound, an alarmed store or a securely fixed container, and how a site donga, open yard or trailer is treated.
Common questions
What is the difference between contractors plant and contract works insurance?
Contractors plant covers the machines and equipment you own or hire in to do the work. Contract works covers the works themselves while under construction, including materials on site, and usually responds to damage to what you are building. Most contractors need both, because a fire on a site can destroy the works and the plant at the same time under two different policies.
Are the tools in my ute covered by a plant policy?
Tools of trade and small plant are generally covered under an unspecified item section with a per item limit and a total limit, rather than being listed individually. Theft conditions commonly matter more than the limit, particularly around unattended vehicles overnight. It is worth checking both the caps and the after hours storage conditions against how the crews actually work.
How much does contractors plant insurance cost?
It depends on the fleet, and any figure before underwriting is a guess. Total sum insured across the fleet, the split between owned and hired-in plant, your trade and typical site type, overnight storage and yard security, excess levels and claims history are the main drivers. The hired-in section sum insured and the small plant limits you select also move it.
Do I need to declare machines I hire out to other contractors?
Yes, generally. Dry hiring plant out is a different exposure from using it yourself, because operational control passes to someone else and the machine goes to sites you have not assessed. Insurers commonly expect it to be declared and may look at the hire agreement wording. Undeclared hire out is a frequent cause of disputed claims, so it is worth raising before the arrangement starts.
General information only. Cover, limits and exclusions depend on the PDS, TMD, eligibility, underwriting and the policy terms. See mobile plant machinery insurance for the wider picture.
10 Years Advising Steadfast Network Access Licensed Australian Brokers Australia-Wide
Quotes That Are Fast And Easy
Get a quote fast. Compare quotes from multiple insurers. Get the best deal for your contractor plant insurance.
How Do You Get Started?
We make contractor plant insurance fast and easy at Insurance Time. Get a quote today.
-
Start a quote.
Fill the quote form above, or call us on 0418 166 122.
-
Quotes gathered.
Our team will approach insurers and gather your options.
-
You're covered.
Choose your option and receive your policy documents.
Why Choose Insurance Time
Protect yourself with cover arranged by a licensed Australian broker who explains it in plain English.
Professional
Our team are experienced in contractor plant insurance and licensed to advise on it.
Experienced
Ten years advising Australian families and businesses, with Steadfast network access.
Renewal management
Our team will manage your renewals and keep you informed and up to date.
24/7 claims
Notify us of a claim 24/7, 365 days a year.
Cover Options
We can arrange different levels of cover for you and your business.
Motor vehicles and fleets
Third party to comprehensive motor and fleet cover.
Public liability
Protection for third party property damage or personal injury.
Business package
Customised cover for your business assets and liabilities.
Personal insurance
Protection for you and your family.
Property
Protection for your personal and business premises and contents.
Workers compensation
Cover questions for your employees and workers.
Get A Quote. It's Complimentary.
It's time to review your contractor plant insurance.
General information only. Any cover depends on the PDS, TMD, eligibility, underwriting, and policy terms. We use your details to respond to this enquiry.