Fleet plant cover
Damage to owned machines across sites, generally scheduled by machine with agreed or market value settlement.
Komatsu Insurance
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Komatsu Insurance
Cover for Komatsu earthmoving, construction and mining machines.
Komatsu fleets in Australia stretch from small excavators on suburban jobs to mining-class dozers and rigid dump trucks worth millions. That spread matters, because one fleet policy has to cope with very different values, sites and contract conditions. Mine and quarry work in particular brings principal indemnity requirements that a standard plant wording may not meet without amendment.
What is it?
Komatsu builds hydraulic excavators, bulldozers, wheel loaders, motor graders, articulated and rigid dump trucks, and dedicated mining machines. In Australia it is supported by a large factory-backed service network and the Komtrax telematics system, which records machine location and hours. Fleets commonly mix owned, financed and hired-in machines running across several sites at the same time.
What does komatsu insurance cover?
Hired-in plant
Machines you hire and are contractually responsible for, which needs its own wording and limit.
Mine and quarry conditions
Site access agreements often require specific limits and indemnity wording that should be checked before you sign.
What affects the cost?
- Machine values and fleet mix
- Civil, quarry or mining sites
- Machine hours and age
- Contractual indemnity requirements
- Security and overnight storage
Worth raising on the call
- Mining-class machines can exceed standard plant policy limits, so the sums insured need a genuine check.
- Telematics data helps after a theft, but it does not replace the security conditions in the policy.
- Agreed value and market value settle very differently on older, high-hour machines.
Claims we are commonly asked about
Haul truck fire on a ramp
A hydraulic line fails and sprays onto a hot turbo on a rigid dump truck climbing a quarry ramp, and the machine burns out before the crew can reach it. Losses of this size commonly become total losses, and the service records for the fire suppression system are usually one of the first things requested.
Hired-in dozer damaged on site
A dozer hired in for a six week job is damaged and goes off to the workshop for a month. Under most Australian hire agreements you remain responsible for the repair and for continuing hire charges while the machine is out, and those continuing charges commonly need their own sub-limit.
Excavator struck at shift change
A haul truck reversing at shift change backs into the counterweight of a parked excavator on a quarry bench. Both machines may be yours, which raises the question of whether damage between your own units is treated as one incident or two, and how many excesses apply.
Worth confirming in the wording
- Worth confirming whether continuing hire charges on a damaged hired-in machine are included alongside the cost of the repair itself.
- Worth confirming whether the liability wording carries indemnity to principals and waiver of subrogation to the standard your site access agreement demands.
- Worth confirming whether sudden mechanical or electrical breakdown is included or sits as a separate optional extension, particularly on the mining-class units.
Common questions
Does plant insurance cover mechanical breakdown?
Generally not by default. Most plant policies respond to sudden accidental damage from an external cause, and internal component failure is commonly treated as a maintenance matter. Breakdown cover is often available as a separate extension with its own conditions and excesses, so it is worth asking whether it is included and what it actually pays for.
Do I need separate cover for machines I hire in?
Usually yes. Hired-in plant is not your property, so it is commonly covered under its own section with its own limit rather than under your owned machine schedule. The limit needs to be high enough for the largest machine you might hire, and it is worth checking whether it also covers continuing hire charges while the machine is being repaired.
Should I insure my Komatsu fleet on agreed value or market value?
It depends on the machine. Agreed value fixes the settlement figure at the start and removes the argument later, which suits older high-hour machines whose market value has fallen well below what it would cost to replace them in your fleet. Market value can suit newer machines with a strong resale market. A broker can compare how each would settle on your specific units.
What does Komatsu plant insurance cost?
It depends on your fleet rather than on any single rate. The main drivers are total machine values and fleet mix, whether you work civil, quarry or mining sites, machine hours and age, the indemnity requirements imposed by your contracts, security and overnight storage, and claims history. Mining-class machines can exceed standard plant limits and are priced accordingly.
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.
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