Plant Hire Insurance Explained

Do you need plant hire insurance cover?

If you’re working on a site, most likely you’ll be operating some form of plant machinery. Huge numbers of plant machinery are stolen or vandalised every year resulting in millions of pounds worth of losses and damage. Not only is vandalism a problem, but so are the general every day hazards that are associated with construction sites, which can damage and/or destroy plant machinery.

Why do you need plant cover?

Plant cover can protect you from huge unexpected losses and can help minimise delays in a project. If a key piece of plant machinery is stolen or damaged, this could delay a project, resulting in losses for your business. In addition to this, you’d also have to pay to replace or repair the damaged plant machinery. Plant cover gives you peace of mind that your business can carry on running smoothly even after an unfortunate, unforeseen circumstance.

Hired or owned plant cover

For hired-plant, without plant hire insurance you will be liable for any damage or loss of plant machinery. This can be extremely expensive and can seriously trouble businesses. With plant hire insurance, you don’t need to worry about this as your hire charges and replacement costs are covered under the policy.

Owned-plant insurance will cover the cost of repair or replacement for plant machinery that you own yourself. This cover can be for small power tools or for large cranes and everything in between.

Extras

Plant cover can typically be included in Contractors’ Insurance, and basic cover will generally cover accidental damage, fire and theft. There are some comprehensive covers that will cover against ‘All Risks’ as well. If you are using your plant machinery on the road you will not be covered, you will need Third Party Road Risks cover as well.