What is Plant & Equipment insurance?
Plant and Equipment insurance, when part of a commercial package or commercial combined policy, will cover your business contents and machinery and is often known simply as contents insurance. Some insurance companies will also ask for electronic equipment, such as computers, to be considered separately and for items taken away from your premises to be listed separately.
If you have plant, machinery or equipment that is vital to your business then you should consider engineering insurance, which may offer cover in the event of breakdown or failure.
As well as covering your plant and equipment for loss or damage we suggest that you also take business interruption insurance, which will pay for lost income or profits resulting as a consequence.
Plant, machinery or equipment that could be potentially dangerous, such as lifting or pressurised plant, then the law may require that you have regular inspection and certification.
If you need to insure construction plant and equipment this may be better covered by a contractors all risks policy or a contract works policy.
Farmers, landscape gardeners and tree surgeons may find more appropriate cover on an agricultural policy.
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