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Equipment Insurance Articles

What Paperwork is Necessary When Applying for Plant and Equipment Insurance?
What Paperwork is Necessary When Applying for Plant and Equipment Insurance?
In the bustling world of business, safeguarding your assets is crucial. This is especially true for industries reliant on machinery and equipment. One essential type of coverage for such businesses is plant and equipment insurance. It provides financial protection against risks associated with the loss or damage of your essential tools. - read more
Unlock Savings: How Bundling Your Plant and Equipment Insurance Can Reduce Premiums
Unlock Savings: How Bundling Your Plant and Equipment Insurance Can Reduce Premiums
Plant and equipment insurance is a specialized type of coverage designed to protect your crucial assets. This insurance typically covers machinery, tools, and various equipment used in the operations of your business. It ensures that, in the event of damage or theft, you won’t face major financial setbacks. - read more
The Factors That Affect Plant and Equipment Insurance Premiums in Australia
The Factors That Affect Plant and Equipment Insurance Premiums in Australia
Plant and equipment insurance is a specific type of policy designed to protect the tools, machinery, and equipment that businesses rely on for their operations. This insurance safeguards against various risks, ensuring that your essential assets are not a financial burden during unforeseen circumstances. - read more
Understanding Owned vs. Hired-In Plant Insurance: A Comprehensive Guide for Australian Businesses
Understanding Owned vs. Hired-In Plant Insurance: A Comprehensive Guide for Australian Businesses
Understanding plant and equipment insurance is crucial for any contractor in Australia. This type of insurance protects your valuable machinery and tools from unforeseen events that could disrupt your business. Without proper coverage, equipment damage or loss can lead to significant financial strain, potentially jeopardizing your operations. - read more
Is Plant and Equipment Insurance a Legal Requirement for Australian Contractors?
Is Plant and Equipment Insurance a Legal Requirement for Australian Contractors?
Plant and equipment insurance is a specialized type of coverage designed to protect construction and contracting businesses against financial losses related to their machinery and tools. This includes any equipment used in the delivery of services, such as excavators, cranes, and other vital equipment. In essence, this insurance safeguards your investment, providing peace of mind as you focus on your projects. - read more

Insurance News

Significant Reductions in Australian Construction Insurance Premiums
Significant Reductions in Australian Construction Insurance Premiums
20 Dec 2025: Paige Estritori
The Australian construction insurance market has experienced a notable shift in 2025, with premiums decreasing across various lines due to intensified competition among insurers. According to Marsh's Construction Insurance Market Update 2025, the first half of the year saw average premium reductions ranging from 5% to 15%, marking a significant departure from the upward trend observed in 2024. - read more
Elevated Construction Costs Prompt Reassessment of Insurance Strategies
Elevated Construction Costs Prompt Reassessment of Insurance Strategies
20 Dec 2025: Paige Estritori
Australia's construction sector continues to grapple with elevated cost pressures, prompting builders to reassess their insurance and risk management strategies. Gallagher reports that overall construction costs have increased by over 30%, influenced by supply chain disruptions, inflation, and labour shortages. - read more
South Australia Strengthens Homeowner Insurance Amid Rising Builder Insolvencies
South Australia Strengthens Homeowner Insurance Amid Rising Builder Insolvencies
20 Dec 2025: Paige Estritori
The South Australian Government has taken decisive action to bolster homeowner protection in response to a surge in builder insolvencies. Effective from 1 October 2025, the maximum insurance payout for homeowners will increase from $150,000 to $250,000. This measure aims to provide greater financial security to homeowners left with incomplete or defective properties due to builder failures. - read more
New Association Established to Elevate Standards of Expert Reports in Insurance Claims
New Association Established to Elevate Standards of Expert Reports in Insurance Claims
20 Dec 2025: Paige Estritori
The insurance industry has long grappled with inconsistencies and varying quality in expert reports, which are pivotal in claims assessments. In response, the Association of Insurance Building & Engineering Consultants (AIBEC) has been established to address these challenges and elevate industry standards. - read more
Commercial Insurance Rates in the Pacific Region Experience Notable Decline
Commercial Insurance Rates in the Pacific Region Experience Notable Decline
20 Dec 2025: Paige Estritori
The commercial insurance landscape in the Pacific region has undergone significant changes, with Marsh's latest report indicating a 6% decline in rates during the third quarter of 2024. This trend reflects a broader global pattern, as the report also notes the first worldwide rate drop in seven years. - read more

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Grace Period:
A set amount of time after the premium is due during which a policyholder can make a payment without the insurance coverage lapsing.