Machinery & Equipment Insurance policies provide protection for most types of plant and equipment in the earthmoving, construction, crane, agriculture and mining industries.
These includes:
- Cranes / Tower Cranes
- Earthmoving Equipment – Backhoes, Excavators
- Forklifts / Scissor Lifts
- Lifting Equipment
- Concrete / Water Truck
- Drilling Machines - Rock Breakers / Borers
- Farming Equipment / Machinery
- Forestry Equipment – Wood Chippers / Mulchers
Request a quote from Optimum Insurance today
To obtain a quotation, you can:
- Call on 1300 739 861 to discuss your enquiry with one of our advisers.
- Send an email to service@optimuminsurance.com.au
- Complete the following enquiry form and return by fax, post or email.
Download:
Machinery & Equipment Insurance Questionnaire
Machinery & Equipment - Liability Insurance Questionnaire
We will come back to you with a quotation as soon as possible (in most cases with in 2 - 5 business days). If you would like to discuss your specific needs, please don’t hesitate to Contact Us.
Frequently asked questions
Common Policy Features
There are several industry specific polices available which combine the mainstream insurance exposures.
Material Damage
Sudden and unexpected physical damage or destruction of a Machine.
Third Party Road Risk Liability
Legal Liability for Personal Injury and/or Property Damage of a registered vehicle. This can also extend to road vehicles with temporary road permits, if agreed with insurer.
Public & Products (Broadform) Liability
Legal Liability for Personal Injury or Property Damage caused by an occurrence in connection with the insured. (Note: Some insurers provide limited cover for Public (General) Liability Only.)
Care, Custody & Control (Hook) Liability
Legal Liability for Property Damage or Destruction to third party property in your physical possession or legal control.
Consequential Loss
Loss of income cover as a result of damage to a Machine which subsequentially causes an interruption to the business and income
(Does not include substitute hire costs)
Hired in Plant
Liability to Hirer arising from Damage to a Machine that has been hired in for the purpose of use in accordance with their business activities.
Breakdown
Cover the reasonable costs to repair the Machine to its condition prior to the breakdown. (Excludes wear and tear, lack of maintenance claims).
You also should consider the policy features and benefits, as these vary from insurer to insurer and some are not automatically covered or have a sub-limit.
These include:
- Accessories/ Tools
- Expediting Costs
- Recovery Costs
- Indemnity Hirer
- Multiple Crane Operation (Multi-lifting)
- Appreciation in value of Machinery
- Additions/Deletions of Machines
- Owners Protections
- Unintentional Non-Deliberate Overload
- Windscreen Replacement
- Dry Hire
- Substitute Hire Costs
- Damage Waiver (Hired Out Plant)
- Wet Hire / Dry Hire Extensions
- Finance Protection
- Underground Risk Limitations / Exclusions
Insurers Policy Wordings
Each insurance company has their own policy wording, this means that coverage can vary considerably from one insurer to another. It is important that you compare each policy based on the appropriateness of cover for your individual business needs.