Owned plant insurance
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- Optional cover that can be added to your main insurance package
Your plant and machinery can be a big investment. If something gets damaged while you're using it, the repair or replacement bill can quickly add up.
Our owned plant insurance is an optional addition to our public liability and trade insurance policies. It can cover eligible plant and machinery against damage, including while it's being transported.
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What is owned plant insurance?
‘Plant’ generally refers to machinery and equipment used to carry out work on site, such as diggers, generators or compressors.
Owned plant insurance is cover that helps protect your plant and machinery if it gets damaged while you’re using it on site. It’s an optional extra that can be added to any of our policies.
“Owned plant” isn’t just equipment you’ve bought outright. It can also include plant that you
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Hold under a hire purchase agreement
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Lease
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Have on loan
Cover can also apply to scaffolding, temporary buildings, site office contents and site welfare facilities.
Why is owned plant insurance useful?
Plant can be essential to getting a job done right. If a piece of covered machinery is damaged while it’s in your care, you could be left with a costly repair bill or the expense of replacing it.
Owned plant cover can help with the cost of damage to eligible plant.
Depending on the situation, the policy may provide:
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Repair of the damaged equipment
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Replacement of the item
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Reinstatement of the plant
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A cash payment to cover the cost of repair or replacement
It can also cover reasonable recovery costs if insured plant becomes accidentally immobilised during normal operation.
What does owned plant insurance cover?
Owned plant cover helps protect the equipment you rely on day-to-day, so work can keep moving if something goes wrong.
It can cover loss or damage to plant, including scaffolding, temporary buildings, site office contents and site welfare facilities.
Your plant can be protected across Great Britain, Northern Ireland, the Channel Islands, the Isle of Man and the EU, so you can have peace of mind whether you’re working locally or further afield.
Cover is available from £2,500 up to £250,000, and a £250 excess applies to each claim
Here’s how owned plant insurance can help in practice:
Plant is damaged while you're using it
If covered plant is damaged while it's in your custody or control, we can help cover the cost of repair, replacement, reinstatement or payment.
Plant is damaged while being transported
Cover can also apply while your plant is being moved by road, rail, roll-on/roll-off ferry or inland waterways within the areas covered by your policy.
Your plant gets stuck or immobilised
If your plant or machinery gets accidentally stuck during normal operation, we can help cover the reasonable cost of getting it recovered and back where it needs to be.
You hire your plant out to others
If you hire your plant to someone else, it can still be covered while it’s out on hire, as long as it’s used under standard Construction Plant Hire Association terms or any other terms we’ve agreed with you.
What counts as owned plant?
Owned plant cover is there to help protect the equipment you rely on day to day. Every business is different, so what’s covered will depend on the type of work you do and the plant you use.
It can include things like:
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Scaffolding
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Temporary buildings
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Site office contents
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Site welfare facilities
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Plant you’re paying for on hire purchase
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Leased equipment
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Plant someone has lent to you
What’s actually covered under your policy will always depend on the specific details, terms, conditions and exclusions that apply.
What isn't covered by owned plant insurance?
Owned plant cover is there to help when something unexpected goes wrong, but it won’t respond to every issue that can affect your machinery.
Here are some of the main things this cover doesn’t include:
✘ Breakdowns caused by mechanical or electrical failure within the plant itself
✘ Normal wear and tear or gradual deterioration over time
✘ Rust, corrosion or oxidisation that happens slowly
✘ Damage to personal tools that are covered under a separate policy
✘ Damage to cutting edges, tools, trailing cables or flexible pipes (unless the plant is completely lost in certain situations)
✘ Damage caused by the materials being worked on, or by foreign objects entering the plant
✘ Road-licensed vehicles or vehicles that must have compulsory motor insurance
✘ Losses only discovered during stock checks or routine inventory counts
✘ Damage caused by the plant to third-party property (this is covered under public liability insurance)
For full details of what is and isn’t covered, please refer to your policy wording.
Who is owned plant insurance for?
Owned plant insurance is designed for tradespeople and businesses that rely on their own plant and machinery to get the job done.
It can suit businesses using things like:
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Construction plant
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Scaffolding
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Generators
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Site equipment
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Temporary buildings
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Site office equipment
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Site welfare facilities
It’s not just limited to equipment you fully own outright either. It can also include eligible items you’ve bought on finance, leased, or even borrowed for your work.
If you tend to hire equipment rather than own it, hired-in plant insurance may be a better fit.
And if your main kit is handheld tools like drills, saws or sanders, then tools insurance is usually the right type of cover.
Owned plant insurance vs hired-in plant insurance
The easiest way to understand the difference between owned plant and hired-in plant cover is by asking yourself: do you own the plant, or are you hiring in?
Owned plant insurance
This covers plant and machinery that’s yours, or treated as yours under the policy.
That includes equipment you own outright, as well as items you’ve leased, bought on finance (hire purchase), or have on loan and are responsible for.
Hired-in plant insurance
This is for equipment you don’t own, but hire from another business when you need it.
Because the cover is based on ownership, the two types of insurance work differently and can’t be swapped. The right choice depends on how you use your equipment day to day.
The right level of cover comes down to the plant you rely on day to day and what it would cost to replace it if something went wrong.
When thinking about your level of cover, it helps to consider:
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The plant and machinery your business uses
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How much each item is worth to replace
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Any equipment you’ve bought on hire purchase or lease
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Any plant that’s been loaned to you
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Scaffolding, temporary buildings or site facilities you use as part of your setup
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Any plant you hire out to other businesses
If you make a successful claim, your insurers will pay up to the market value of a single item at the time. Your overall cover limit for owned plant will be shown in your policy schedule.
How much does owned plant insurance cost?
There isn't a standard price for owned plant insurance. The cost depends on your business and the cover you select.
Factors that may affect the cost include:
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The value of the plant you want to cover
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The type of plant and machinery you use
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How your plant is used
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The level of cover selected
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Your business activities
You'll receive a personalised quote based on your situation.
Fixed price, fixed peace of mind
Lock in your insurance price for two full years with Trade Direct Insurance’s Price Freeze on Classic and Plus policies.
Whatever your trade, work can be unpredictable. Your insurance price doesn’t have to be.
How to add owned plant cover
Owned plant cover is an optional extra you can add to our public liability insurance policies.
If you’re taking out a new policy, you can simply choose owned plant cover as part of your quote.
Already insured with us? Just get in touch with our team and we’ll help you add owned plant cover to your existing policy.
Once it’s in place, your cover will start from the date shown on your policy.
Hired-in plant insurance
If you hire equipment instead of owning it, this type of cover may be more suitable.
It’s designed specifically for plant and machinery you rent for your work.
Tools insurance
Owned plant cover isn’t designed for everyday hand tools.
Tools insurance can help protect your smaller equipment, with cover available up to £15,000.
Public liability insurance
Owned plant insurance only covers your equipment.
If your work accidentally causes injury or damage to someone else’s property, public liability insurance is what helps protect you.
Get your owned plant insurance quote today
If your business depends on plant and machinery, this cover can give you extra peace of mind that your equipment is protected if something goes wrong.
Add it to your policy and choose a level of cover that suits the way you work.
✔ Underwritten by Zurich Insurance Company Ltd.
✔ Optional owned plant cover
✔ Protection for eligible plant in your care
✔ Cover during transport within the policy area
✔ Recovery costs in certain situations
✔ UK-wide cover plus Channel Islands, Isle of Man and EU
✔ Save 10% with B&Q TradePoint
✔ UK-based support team
✔ 24/7 live AI assistant