Hired-in Plant Insurance
Specialist hired-in plant insurance that a wide range of traders can benefit from.
Why choose Howden for Hired-in Plant Insurance?
We know how tricky it can be for tradesmen to find the insurance products they need for their business, and that’s why we do our best to do the heavy lifting instead, so you don’t have to. Thanks to the brilliant relationships we have with our selected panel of both standard and specialist insurers, we’re able to make the process of sourcing various different hired-in plant insurance options, on your behalf, simple and straightforward.
Here at Howden, our team of experts understand that each hired-in plant insurance policy needs to be unique and tailored to each tradesman and their business. That’s why we provide a personalised service to our clients, which focuses on getting to know you and your business better, whilst also learning more about what you want from your hired plant insurance policy.
So, what are you waiting for? Whether you need to make a claim, purchase new hired plant insurance policies, or renew an existing one, just know that we’re always here to help.
Benefits of working with Howden:
- You can trust us – we’re rated Excellent on Trustpilot.
- We’re driven to save you time, money, and hassle.
- Benefit from a tailored service that comparison sites can’t provide.
- Speak with your local branch, within your community.
- We’re right by your side in the event of a claim.
What is Hired-in Plant Insurance?
Hired-in plant cover, also known as plant hire insurance, is a type of insurance coverage designed to protect businesses or individuals who rent or hire plant machinery, equipment, or tools for use in construction, engineering, or other industries. The term "plant" in this context refers to various types of machinery and equipment used in construction, such as excavators, bulldozers, cranes, forklifts, and other specialised equipment.
Businesses or individuals often opt for hired-in plant insurance to mitigate the financial risks associated with potential accidental damage, theft, or loss of the rented equipment from the hire company. It provides a safety net, ensuring that unforeseen costs related to incidents involving the hired equipment are covered by the insurance provider, rather than being solely the responsibility of the renter.
Own Plant
One of the largest investments contractors make is in purchasing specialised equipment such as plant and machinery. We have several insurers who are able to cover plant separately or include it in a contractors all risk policy.
We can arrange cover to contractors in respect of damage to contractors plant and equipment owned by or on a deferred purchase or lease to the proposer, while situated or in transit anywhere within the territorial limits.
When obtaining a quote for plant insurance we can either look at covering your plant item by item or offer a blanket based policy which will cover you to an upper value limit.
Hired in Plant
As with anything you hire, responsibility for keeping the hired item safe and in good condition lands squarely on your shoulders. Hired-in plant and machinery is no different.
The insurance provided by our market providers is in respect of damage to contractors plant and equipment hired in by the insured, while situated or in transit anywhere within the territorial limits.
What does Hired-in Plant Insurance cover?
A hired-in plant insurance policy can be broken down into three ways it can protect your business when you hire machinery or equipment.
All risks covered
Each insurer is different, but most hired-in plant policies will provide you with cover in the event that the equipment or machinery is:
- Stolen
- Damaged by a fire, storm or flood
- Accidentally damaged
Be aware that mechanical breakdowns and wear and tear issues are typically excluded, so you’ll need to check with the insurer before getting a policy or making a claim.
Wide-ranging machinery & equipment cover
Insurance providers will often provide cover for a wide range of different hired tools and equipment, whether it be generator or small drills, or large diggers and forklifts. Equipment, machinery and vehicles can all be covered under a policy with flexible cover limits.
Hire charges covered by policy extension
If a piece of equipment your hire is unrepairable or lost under your care, you’ll still need to pay the hire company for the hire until they get a replacement. With hired-in plant cover though, cover extensions are available which allow you to pay late hire charges via your insurance, not through your own back pocket.
Which tradesmen can benefit from Hired-in Plant Insurance?
Whether it be self-employed start ups or global mega businesses, right across the trade industry professionals require equipment, tools and machinery that they could only get their hands on through hiring from another company. With that, comes with a need for hired-in plant insurance, and here at Howden, we can source a wide range of policies that can be specifically tailored to suit the needs of various tradesmen, including:
- Bricklayers
- Builders
- Contractors
- Electricians
- Gardeners & Landscapers
- Roofers
- Sole Traders
- Subcontractors
- Tree Surgeons
If you’re a tradesman that isn’t mentioned in the list above and need plant hire insurance, don’t fret. Give us a call on 01993 894 700 and we can help you find a policy that makes the most sense for you and your business.
Other types of business insurance that we offer
Tradesman and business owners need more than just hired-in plant insurance to protect all aspect of their business. Take a look below and find out more about the various business insurance products we can source:
Public liability insurance
Public liability insurance is a must-have policy, designed to protect businesses following third-party claims that stem from accidental injuries or property damage.
Employers’ liability insurance
Does your trade business employ anyone? If so, you’re legally required to have employers’ liability insurance to protect your business and your employees.
Professional indemnity insurance
If you offer professional advice as part of your service and a client suffers following the advice and files a claim, professional indemnity cover can protect you and your business.
Business equipment insurance
This insurance does what it says on the tin – it supports your business in the event that valuable business equipment are stolen, lost or damaged by provided repairs or replacements.
Tools insurance
Your tools are priceless for your business, making it crucial that you have the right insurance in place to protect them.
Goods in transit insurance
Transport your goods with peace of mind knowing that they are fully covered thanks to goods in transit cover.
Personal accident insurance
Accidents can happen, but the consequences of injuries on workflow can be costly. Personal accident cover is the perfect policy for ensuring injuries and accidents don’t disrupt your everyday work.
Legal expenses insurance
Legal disputes and the fees that come with them aren’t cheap for businesses. That’s where legal expenses cover can help, minimising the financial impacts of legal fees and claims made against your business.
Contractors’ all risk insurance
Get all-round comprehensive cover for your contract work, whether it be your tools, your business premises or site, materials, your employees, and much more.
Still not sure what business insurance you need? That’s okay. Get in touch with us today and we can discuss your requirements, before helping you build a comprehensive insurance package that ticks each of your boxes.
How much does Hired-in Plant Insurance cost?
A hired-in plant insurance policy premium can vary in price depending on several factors. These include:
- Which machinery or tools you’re hiring
- The risks your business faces
- Your claims history
- Whether you pay in monthly instalments or upfront
Premiums can also differ depending on which insurance provider you opt to get a policy with, because they’ll each have their own terms and conditions and procedures when it comes to calculating policy rates.
Ultimately though, the best way to find out how much YOUR premium will be, is to get a hired-in plant insurance quote. Either visit us in your local Howden branch today, give us a call, or click Get a Quote at the top of this page, and a member of our team will help you find a policy that not only considers your requirements, but also matches your budgetary expectations.
Any client of ours can also opt to pay upfront or by direct debit through monthly instalments. It's your call.
Related articles
Want to learn more about topics related to hired-in plant insurance? Have a read of the articles below that you can find on the Howden Blog!
Hired-in Plant Insurance FAQs
What is short term hired-in plant insurance?
Short term hired-in plant insurance does what you’d expect, it protects businesses or individuals who rent or hire construction equipment, machinery, or other types of plant equipment for short-term projects.
What’s considered to be “short-term” varies across different insurance providers, with some offering one-day policies whilst others offer minimum three-month long policies. Therefore, depending on how long you’ll need cover for, you’ll need to research and compare different options before finding insurance that suits your project.
Or, you can discuss your requirements with us here at Howden. We can help you find a policy that covers you for as long as you need, whether you need insurance for a year or just one day.
Do I need insurance to hire a mini digger?
Plant hire insurance or hired-in plant insurance is a must-have if you decide you need to hire a mini digger.
Under your care, what would happen if you accidentally crashed it, injured someone, or caused it to have a mechanical failure? Well without the right hired-in plant insurance in place, the cost of getting it fixed or repaired, or paying any compensation claims would have to come right out of your own pocket.
That’s why having the right insurance in place before your hire a mini digger is crucial, so you avoid any financial losses whilst it’s hired by your business. Hired-in plant insurance can cover you if something goes wrong, giving you the peace of mind you need to hire a mini digger for fulfilling business activities.
What is Plant Insurance?
Plant insurance, or plant and machinery insurance as it’s also known, covers a little more than plant hire insurance does.
Whilst plant hire insurance covers the equipment that you hire, plant insurance will also provide cover for your own equipment. That means that plant insurance provides cover for hired equipment and your equipment, in the event that they are damaged by storms, floods or fires, or are lost, or stolen.
Plant insurance is generally considered to be the all-round insurance, whilst the lower level forms of cover hired-in plant insurance and own plant insurance separately provide protection for hired equipment and business’ own equipment respectively.
What types of plant machinery and equipment are typically covered under UK Plant Insurance?
UK Plant Insurance typically covers a wide range of machinery and equipment used in construction, agriculture, manufacturing, and other industries. This includes excavators, bulldozers, cranes, forklifts, generators, and more.
What are the core components of UK Plant Insurance?
The core components usually include plant machinery insurance (covering damage and breakdowns), liability insurance (covering third-party injury or property damage), theft insurance, and optional coverage such as business interruption insurance and hired-in plant insurance.
What risks does UK plant insurance protect against?
UK plant insurance protects against risks such as accidental damage, theft, vandalism, breakdowns, fire, floods, and legal liabilities arising from plant machinery usage.
Are leased or hired-in plant machinery covered under UK Plant Insurance?
Yes, many UK plant insurance policies offer coverage for leased or hired-in plant machinery, providing protection for businesses using equipment on a temporary basis.
What steps should businesses take in the event of a plant machinery breakdown or damage?
In case of breakdown or damage, businesses should notify their insurance provider immediately, document the incident with photos and reports, and cooperate in the claims assessment process to expedite claim resolution.
Does UK plant insurance cover plant machinery used in off-site locations?
Yes, many UK Plant Insurance policies provide coverage for plant machinery used both on-site and off-site, including during transportation and temporary storage.
How can businesses ensure they have adequate coverage under UK plant insurance?
Businesses should work closely with experienced insurance brokers specialising in plant insurance, accurately disclose their plant inventory, usage patterns, and operational risks, and regularly review and update insurance policies to ensure adequate coverage levels for their evolving needs.
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