Machinery Insurance

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Every year, workers sustain horrific injuries as a result of plant and heavy machinery equipment. Poor guarding and allowing people to come into contact with moving parts of a machine, is the most common cause of injury. Steps should be taken to reduce the risk on the sites where these machines are used, however this type of risk cannot be fully eliminated. It’s therefore imperative that any company using this type of machinery be fully insured in order to protect the business, management staff, and employees.

What is Machinery Insurance?

Machinery Insurance is designed specifically to cover for your machinery and equipment. It is more specialised than commercial motor vehicle insurance, most notably because it covers off-road usage.

Machinery Insurance can help your company survive the unexpected, with minimum losses.

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The Importance of Machinery Insurance:

Work accidents involving heavy machinery can be devastating both from a personal and a business viewpoint. The sheer size and power of much of the machinery in use today can quickly cause significant injury or even death to personnel. Even when such an incident does not impact on the health and safety of people, these large machines can cause expensive property damage when something goes wrong.

It is essential that your business and assets are fully covered with a comprehensive Machinery Insurance policy.

What Risks are Faced by the Operators of Machinery?

Machinery is exposed to a varied and divers set of risks, unique to the nature of the work. There are several hazards that are common throughout the industry, including:

  • Weather: Temperature, wind direction & speed, precipitation can all affect the operation of plant and heavy machinery. Changes to the predicted conditions may cause reduced visibility, traction and staff comfort, which can result in a serious accident.
  • Fire: Risk of fire in and around machinery and areas of activity should be determined and minimised ensuring operators always have access to fire extinguishers and hoses, as well as necessary notification of local emergency responders.
  • Employee Injury: The nature in of work with machinery leaves employees open to injury in a variety of ways. Falls from vehicles, load securing and lifting, and moving heavy objects or objects that are difficult to grasp can all result in serious injury to an employee.
  • Vehicle Manoeuvring: Given the size of these plant vehicles, serious injury, or severe damage may occur in the event of a collision, which can result in a huge financial payout for the company.
  • Poor Maintenance: Serious accident may occur if machinery is not properly maintained with required warning features such as reversing lights and sounds.

What Other Types of Insurance May My Business Need?

PSC Direct offers specific insurance packages that cover key issues that your business may face in relation to using plant and heavy machinery.

Our representatives can also discuss other types of policy that your business may be interested in, such as:

  • Asset Protection for buildings, fixed plant and machinery
  • Broadform Public Liability & Products Liability Insurance
  • Business Interruption Insurance
  • Carriers Liability Insurance
  • Marine Cargo and Carriers Load insurance
  • Management Liability insurance
  • Personal Accident & Illness insurance
  • Tax Audit Insurance

Who Needs Machinery Insurance?

Machinery insurance is a necessity for those using the equipment. From earthmoving to heavy haulage, infrastructure services, landscaping, mining, piling & shoring, quarrying, resources, sand & gravel, screening, resources and road making; insurance can cover your business from the significant risks it faces in using this type of equipment.

How PSC Direct works for you

As specialist small business insurance brokers, PSC Direct uses our considerable experience to provide multiple quotes for you. Combining our expertise insuring thousands of other similar businesses with our detailed database of insurers and insurance products; we’re best placed to advise you on the right insurance for your business.

We have strong relationships with the leading underwriting agencies and insurance companies. We can source the most appropriate business insurance policy for you, covering you for what you really need, at the right price.

We can help sole practitioners, small, medium and large businesses protect the businesses you are growing and ensure your assets are covered in the event that disaster strikes.

With our strong relationships to a broad range of highly-rated insurers we are able to advise you on business insurance, professional indemnity insurance, and professional indemnity insurance specifically tailored to meet the risk exposure of your business.

We can also provide advice on a range of additional insurance policies and cover that can affect your business and make sure you have the right insurance at the right price.

72% of Australian businesses fail after experiencing a major loss. 

The right business insurance will ensure you are not one of them.

While good insurance covers you for most things – Professional Indemnity, Professional Liability and Property, great insurance covers you for the specific risks that your business faces. We understand that every business is unique and you need a policy that addresses the specifics. We make sure that when you have a claim that’s out of the ordinary and complicated, you’re covered.