Heavy machinery insurance
Dozers, graders, loaders, rollers and other heavy plant, new or used, with the price for the whole term set on day one.
- Dozers
- Graders
- Loaders
- Rollers
- Up to 40 years old
Machinery insurance through EquipCover is a multi-year policy for the heavy plant your business runs: dozers, graders, loaders, scrapers, rollers and more. It covers sudden and unforeseen physical damage to the machine, theft and total loss, with the price for the whole term set on day one, for up to five years. It doesn’t cover machinery breakdown.
Insurance indication
Heavy machinery, 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 heavy machinery.
Real five-year premiums from current policies are below, with what each costs a year and as a share of the insured value.
Damage, not breakdown
The policy covers sudden and unforeseen physical damage to the machine, including permanent loss by theft. It doesn’t cover a part failing because of a defect. Mechanical damage caused directly by covered damage is included, within the limits in the policy wording.
Financed heavy plant
Heavy machinery is usually financed over several years. The price for the whole term is set on day one, and if the machine is a total loss while under finance, every policy can pay up to an extra 30% of that year’s insured value towards the payout.
A replacement while yours is repaired
If an insured machine is damaged, the policy includes the cost of hiring an equivalent machine while it’s repaired, within the limit in your policy schedule.
Older and used machines
New and used machines up to 40 years old can be covered, as long as they’re used wholly or predominantly for business.
Bought in the last five years
A machine bought in the last 60 months can get up to five years of cover.
$5,511fixed for 5 years
About $1,102 a year
3.2% of the insured value, over five years
$21,556fixed for 5 years
About $4,311 a year
3.1% 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.
Site preparation businesses (earthmoving and excavation contractors) operating in Australia at 30 June 2025, up 1.0% in a year.
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 1New 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 2What can be covered
Heavy machinery 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
- Bulldozers
- Graders
- Front end loaders
- Scrapers
- Rollers
- Ground compactors
- Dumpers
- Trenchers
- Telescopic handlers
- Backhoes
- Compactors / crushers
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.
Does machinery insurance cover breakdown?
No. The policy covers sudden and unforeseen physical damage, theft and total loss. A part failing on its own because of a defect isn’t covered. Mechanical damage caused directly by covered damage is included, within the policy limits.
Which machines can be covered?
Machines on the approved list, including bulldozers, graders, front end loaders, scrapers, rollers, compactors, dumpers, trenchers, telehandlers and backhoes, new or used up to 40 years old.
What happens if the machine is written off?
The claim is settled at the insured value for that year. For a machine less than two years from its date of manufacture, it can be up to 115% of that value if the replacement cost has gone up.
Is the insured value the same every year?
It’s 100% in years 1 and 2, then a 10% depreciation is applied each year from year 3. Your policy schedule lists the value for each year.
Sources
- Australian Bureau of Statistics: Counts of Australian Businesses, June 2021 to June 2025, data cube 2: businesses by industry class (released 16 December 2025)
- Australian Bureau of Statistics: Lending Indicators, June quarter 2026
- Policy wording from our specialist insurance partner: Multi-Year Plant & Equipment Insurance (6 October 2025)
- Product information and approved item list from our specialist insurance partner (August 2026)
Updated 29 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% |
