Many people who work on building sites as building contractors or tradesmen spend more time working with either your own machinery or plant which you have hired than they do at home.
If these are damaged or stolen, you will need to replace or repair them. Plant insurance can cover the cost, with plant hire insurance protecting you against the loss of business machinery which you’ve hired.
Any time you’re hiring a piece of plant, you enter into a contract with the hire company meaning you are responsible for the plant whilst it is in your control. Hired-in plant insurance provides protection against the risk of that plant being stolen, damaged or otherwise un-useable. If anything happens to the plant, you would be liable to replace the plant, which could end up proving very expensive! Liability insurance is recommended for anyone hiring business equipment for the chance that any claims are made.
Insurance for Plant Hire
An insurance policy for hired in plant and machinery covers you with liability insurance under the terms of your hire agreement, to pay compensation for damage to the plant. This can also include legal defence costs and continuing hire charges. Different insurance providers can offer differing amounts of cover, with most cover against damage, fire and theft covering anywhere from £15,000 to £100,000. It is a good idea to speak to our team to establish the level of cover you require for your plant hire.
Plant Insurance Policies
You may be wondering if you really need insurance protection for your hired-in plant. Every year, millions of pounds of plant and equipment is stolen from construction sites, and vandalism can be a big problem. When equipment is kept outside, damage from the elements can also be a risk factor, and since most construction sites are potentially hazardous environments, there is always the chance that plant and machinery could suffer accidental damage. When you lease plant machinery, you become responsible for that machinery, with a financial responsibility to pay the lease charges even when stolen, damaged or lost. It is a very useful policy to take out to protect you from a number of expensive charges should something happen to the plant and machinery in your care!
Why Choose PIB Insurance
PIB Insurance are a leading business insurance broker here in the UK, working with a chosen panel of insurance providers. We work with a wide range of business industries, offering an extensive range of insurance products and cover to suit your unique business venture. Speak to our team today or Request a quote to find out how we can help you source the right insurance products for your business requirements.