Excavator insurance
Mini excavators to machines over 7 tonnes, new or used, with one premium for up to five years.
- Over 7 tonnes
- Mini excavators
- Attachments
- Up to 40 years old
Excavator insurance through EquipCover is a multi-year policy for excavators used in your business, from mini excavators to machines over 7 tonnes. The premium is set once and fixed for up to five years, so it can run for the same term as your finance.
Insurance indication
Excavators, fixed for up to five years.
The machine, its value, your state, the term and registration, then your ABN. About ninety seconds, no proposal form, and you see your indication before we ask for a name, mobile or email.
An indication is an estimate, not a quote or an offer of insurance.
Financing it? See the finance repayment and the insurance together in the calculator, before you give any details.
Your insurance indication
Each policy covers up to $2 million of equipment. Above that, our partner sets up more than one policy, each with its own fixed premium.
Same state and term as the first item. Different state or term? Tell our partner when they contact you.
Done. We have your details.
- NowYour indication and details reach our team, who pass them to our specialist insurance partner.
- Same business dayThe partner emails you an e-brochure for your consideration, with the policy wording.
- When you acceptAccept online, and your certificate of currency follows in about five minutes.
- ABN
- State · term
- Average per year (incl. GST)
- Pay upfront
- Pay by the month
- Re-rated during the term
- No, set on day one
The problems this solves
What fixed cover solves for excavators.
Real five-year premiums from current policies are below, with what each costs a year and as a share of the insured value.
Financed over five years, re-priced every year
Excavators are typically financed over five-year terms. An annual policy is re-rated at every renewal for claims, inflation and market changes. A fixed policy sets the premium on day one for the whole term.
Older and used machines
New and used excavators up to 40 years old can be covered, as long as they’re used wholly or predominantly for business.
Buckets, augers and hammers
Attachments are on the approved item list, so they can be insured with the machine.
Bought in the last five years
An excavator bought in the last 60 months can get up to five years of cover.
Proof of cover for your lender
Once you accept the policy online, the certificate of currency usually follows in about five minutes. What a certificate of currency is.
$5,511fixed for 5 years
About $1,102 a year
3.2% of the insured value, over five years
$4,310fixed for 5 years
About $862 a year
7.8% of the insured value, over five years
Real premiums from current policies. Yours depends on your state, item, value, term and registration.
What’s covered
What the policy covers, and what it doesn’t
| Sudden and unforeseen damage | Yes |
|---|---|
| Theft | Yes, with conditions for equipment left in the open and machines on hire |
| Total loss | Settled at that year’s insured value |
| Finance payout after a total loss | Up to an extra 30% of that year’s insured value |
| Attachments | Yes, when they’re listed on your schedule |
| Extra costs while it’s off the job | Yes, such as hiring a substitute machine, within the schedule limit. Lost revenue isn’t covered |
| Recovery costs | Yes, within the schedule limit |
| Dry hire | Yes, with a written hire agreement |
| Third party property damage | Registered machines, where your schedule shows it |
| Public liability and injury | No. That’s a separate policy |
| Machinery breakdown | No, except mechanical damage caused directly by covered damage |
| Wear and tear | No |
| Private use | No |
A summary only. The policy wording decides what’s covered, and limits are on your schedule.
By the numbers
The numbers behind it.
Construction businesses operating in Australia at 30 June 2026, up 3.4% in a year. Earthmoving contractors are counted in construction.
Source 1Rise in insurance prices paid by Australian households in the five years to June 2026, about double the 24.1% rise in all prices.
Source 2New plant and equipment finance written for small businesses in 2025-26, about 35% of their new fixed-term borrowing. ABS counts a loan as small business when the lender’s exposure is under $1 million.
Source 3What can be covered
Excavators on the approved list.
New or used, up to 40 years old, used wholly or predominantly for business. One item or several on one policy, up to $2 million per policy.
Approved items
- Excavators (over 7 tonnes)
- Excavators (mini)
- Attachments (augers, buckets, hammers)
When this isn’t the right fit
- Equipment used mainly for private or household purposes. Cover is for business use only.
- Equipment you already own that was bought more than 60 months ago (it can be covered, but not on a multi-year policy).
- Equipment more than 40 years old (it can be covered, but not on a multi-year policy).
- Items that are not on the approved item list, or worth more than $2 million on one policy (they can be covered, but not on a multi-year policy).
Not sure? Call us on 0457 932 988 or email info@equipcover.au, and we’ll tell you where you stand.
FAQs
Common questions.
Can’t see yours? Every question we answer is on one page, or call us on 0457 932 988.
How much does excavator insurance cost?
It depends on your state, the machine, its value, the term and its registration. As real examples, an excavator insured for $171,700 has a five-year premium of $5,511, and a mini excavator insured for $55,209 has a five-year premium of $4,310. Both are fixed for the whole term.
Is a mini excavator covered?
Yes. Mini excavators and excavators over 7 tonnes are both on the approved item list.
Can I insure an excavator I already own?
Yes, if you bought it in the last 60 months: up to five years of cover. One bought more than 60 months ago can still be covered, but not on a multi-year policy.
Will my premium go up if I make a claim?
No. The premium is locked for the term you choose and isn’t affected by claims, inflation or market movements.
Sources
- Australian Bureau of Statistics: Counts of Australian Businesses, June 2022 to June 2026 (released 18 August 2026)
- Australian Bureau of Statistics: Consumer Price Index, insurance (quarterly series to June 2026; monthly release September 2026, published 28 October 2026)
- Australian Bureau of Statistics: Lending Indicators, June quarter 2026
- Product information and approved item list from our specialist insurance partner (August 2026)
Updated 6 October 2026. Reviewed by James Rock (National Partnerships Director). General information only, not personal advice. Read the policy wording before you buy.
Why fixed
Priced once.
Not every year.
A standard annual policy is re-rated at every renewal for claims, inflation and market changes. A multi-year policy sets the price for the whole term on day one.
Annual policy
Re-rated yearlyFour renewals, four re-ratings. Bar heights are illustrative, not real premiums.
Fixed multi-year policy
Locked on day oneOne price for the term you choose, set on day one and never re-rated. The bars show the insured value: 100% in years 1 and 2, then a 10% depreciation each year from year 3.
In the five years to June 2026, insurance prices paid by Australian households rose 47.9%, about double the 24.1% rise in all prices (ABS). Why premiums keep rising.
| Year | Annual policy | Fixed multi-year policy: insured value |
|---|---|---|
| 1 | Starting premium | 100% |
| 2 | Re-rated at renewal | 100% |
| 3 | Re-rated at renewal | 90% |
| 4 | Re-rated at renewal | 81% |
| 5 | Re-rated at renewal | 72.9% |
