Everything You Need To Know About Heavy Machinery Insurance

If you use heavy machinery in your business, such as earthmoving equipment, you’ll want to ensure that it is protected.

Typically, this equipment is quite expensive and the businesses that use them often rely on them to continue their operations. As a business owner, you will want any equipment you use to be functional, undamaged and insured from unexpected occurrences. 

That’s why insurance is incredibly important.

To make it easier for you, we’ve broken down everything you need to know about Heavy Machinery Insurance.

What Are The Risks?

If you are a heavy machinery or plant operator, you are exposed to a lot of unique risks and complicated challenges that come with the industry.

Usually, the sites and projects that use heavy machinery are quite dangerous and this equipment is especially expensive. Heavy Machinery insurance can cover you from damage or loss of your machinery as a result of flood, fire, vandalism, theft or accidents.

Additionally, this insurance can provide compensation and protection from substantial public liability claims which could cost you time, money and even your business and reputation!

What Can Heavy Machinery Insurance Provide?

Depending on your business operations and how you use your heavy machinery, there are numerous aspects of this insurance that can be included or excluded to tailor the policy to your business or make it more or less comprehensive.

This includes:

  • Plant machinery and equipment
  • General property
  • Public and products liability
  • Road risk liability 
  • Wet/dry hire
  • Hold harmless (subrogation waiver and cross liability)
  • Underground services
  • Finance gap protection
  • Ongoing hire costs
  • Finance payment protection
  • Substitution hire costs
  • Hired-in plant

It’s important that you speak to an expert insurance broker about your operations to determine what you do and don’t need in your heavy machinery policy. 

Why You Need A Tailored Solution

A one size fits all policy is not going to be enough to ensure comprehensive coverage of all of your assets, regardless the type of insurance. 

To avoid paying too much or not having enough cover to ensure adequate protection of your heavy machinery, speak to a Regional Insurance Broker today for some expert advice!

We’ll assess your risks, find the best policy for you with the most competitive premiums and take care of the claims process should the unexpected happen.

To get your machinery covered, contact us today. 

Why Regional Insurance?

At Regional Insurance, we have over three decades of experience serving Queensland communities. We pride ourselves on our excellent service and expertise in insurance for a range of industries. We’ll make choosing a policy, assessing your risks and making a claim simple with our personalised service to save you time, money and stress.
Contact us today!

Earthmoving Insurance

  • Over 30 years specialised experience working with earthmoving businesses.
  • A range of covers, including plant machinery and equipment, general property, public and products liability and more.
  • Access to expert insurance brokers for personalised and tailored policies.
  • Simplified claims process to get what you are entitled to quickly
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Topics: Risk Management