FAQs

No. You see the indication on screen before we ask for a name, mobile or email. It only needs the machine’s details, your ABN and your consent.

No. This policy covers the machine: sudden and unforeseen damage, theft and total loss. Public liability is a separate policy for injury and damage to other people’s property.

An estimate of your premium from your ABN and five details: state, equipment type, equipment value (ex GST), term and registration. The premium shown includes GST. It isn’t a quote or an offer of insurance.

It depends on five details: state, equipment type, value ex GST, term and registration. In our examples of real five-year premiums from current policies, the premium ranged from 3.1% to 7.9% of the insured value over five years: $5,511 on a $171,700 excavator and $11,190 on a $141,977 truck trailer, each fixed for the whole term.

Yes. Pay upfront; pay by the month, with an initial payment then equal monthly payments, costing from 12.99% a year more (higher on shorter terms) plus a one-off admin fee, and it isn’t a loan, so there’s no credit check; or include the premium in your equipment finance with participating lenders.

No. It’s locked for the term you choose and isn’t affected by claims, inflation or market movements.

Not exactly. The price for the whole term is set on day one and isn’t re-rated, but the insured value changes: it’s 100% in years 1 and 2, then a 10% depreciation is applied each year from year 3. On a machine insured for $100,000, that’s $90,000 in year 3, $81,000 in year 4 and $72,900 in year 5. Your policy schedule lists the insured value for each year.

Yes, on every policy. If the equipment is a total loss while it’s under finance and more is owed than that year’s insured value, cover can pay up to an extra 30% of the insured value towards the payout. The policy wording has the details.

Yes, if you bought it in the last 60 months: up to 5 years of cover. Equipment bought more than 60 months ago can still be covered, but not on a multi-year policy.

Not yet. Our focus today is earthmoving, construction, mining, transport and agriculture. Medical, dental, survey and electronic equipment are planned for later, and you can register your interest.

No. Cover is for equipment used wholly or predominantly for business, anywhere in Australia.

Yes. New and used equipment up to 40 years old can be covered, as long as it is used wholly or predominantly for business. More on this page

Yes. You choose a term from 12 to 60 months, and the premium is set for the whole term on day one. Earthmoving equipment is often financed over five years, which is where a fixed premium helps most. More on this page

Attachments such as augers, buckets and hammers are on the approved item list, so they can be insured too. More on this page

Yes. One policy can cover a single item or several, up to $2 million per policy, and a business can hold more than one policy. More on this page

Once you accept the policy online, the certificate of currency usually follows in about five minutes. More on this page

Yes. New and used equipment up to 40 years old can be covered, as long as it is used wholly or predominantly for business. More on this page

Yes. Equipment up to 40 years old can be covered, new or used. More on this page

Equipment bought in the last 12 months can get up to five years of cover. More on this page

Each policy covers up to $2 million. A business with more equipment can hold more than one policy. More on this page

It depends on your state, the trailer, its value, the term and its registration. As a real example, a truck trailer insured for $141,977 has a five-year premium of $11,190, fixed for the whole term. More on this page

No. The approved item list covers trailers, so the truck itself needs separate cover. More on this page

Tipper, pantech and curtainsider trailers; low loader, dolly, flat top and drop deck trailers; car carrier, tanker, refrigerated and livestock trailers; and light trailers towed by a car, as long as they’re used wholly or predominantly for business. More on this page

With participating lenders, yes. The premium is added to your finance, so one monthly repayment covers both. You can also pay upfront or monthly. More on this page

No. Cover is only for trailers used wholly or predominantly for business. More on this page

Yes. Machines up to 40 years old can be covered. Older equipment is often harder to insure on an annual policy. More on this page

Yes. Conditional registration is for non-standard machines such as tractors that need limited road access. The indication asks whether the item is unregistered, conditionally registered or fully registered, and all three can be covered. More on this page

In NSW, a conditionally registered tractor can be used for farming and farming contracting, roadside mowing, roadworks and earthworks. It can’t run on a freeway or motorway, the driver needs a car licence, and it’s speed-limited to 45 km/h or the manufacturer’s limit, whichever is lower, unless it was built without hydraulic steering. In Victoria, the operator must belong to an approved operator group, and VicRoads can set conditions such as restricted speed, hours of use or routes. In South Australia, special purpose vehicles can be registered for up to 36 months, with conditions such as daylight travel only or distance limits. More on this page

Cover is for equipment used wholly or predominantly in a business, so it needs an ABN. Equipment used mainly for private purposes is not covered. More on this page

Sweepers are on the approved item list, new or used up to 40 years old, as long as they’re used wholly or predominantly for business. For other cleaning machines, such as scrubbers, call or email us with the make and model and we’ll check. More on this page

Sweepers are on the approved list. Tell us on the indication form whether the machine is unregistered, conditionally registered or fully registered, and our partner confirms the cover for your machine. More on this page

Yes. You choose a term from 12 to 60 months, and the price for the whole term is set on day one, whether the sweeper is financed or bought outright. More on this page

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. More on this page

Yes. Mini excavators and excavators over 7 tonnes are both on the approved item list. More on this page

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. More on this page

No. The premium is locked for the term you choose and isn’t affected by claims, inflation or market movements. More on this page

It depends on your state, the tractor, its value, the term and its registration. As a guide, the four real five-year premiums we publish, on two excavators, a truck trailer and a telehandler, range from 3.1% to 7.9% of the insured value over five years, about 0.6% to 1.6% a year. Get an indication in about 90 seconds to see yours. More on this page

Yes. Unregistered, conditionally registered and fully registered tractors can all be covered. More on this page

Yes. Tractors up to 40 years old can be covered, new or used. More on this page

No. Cover is for tractors used wholly or predominantly in a business, so you need an ABN. More on this page

It depends on your state, the forklift, its value, the term and its registration. As a guide, the four real five-year premiums we publish, on two excavators, a truck trailer and a telehandler, range from 3.1% to 7.9% of the insured value over five years, about 0.6% to 1.6% a year. Get an indication in about 90 seconds to see yours. More on this page

Yes. One policy can cover several items, up to $2 million per policy. More on this page

Yes. Unregistered forklifts used in your business can be covered. More on this page

Bobcat is a brand name people often use for any skid steer loader. Skid steer loaders are on the approved item list, whatever the brand. More on this page

It depends on your state, the machine, its value, the term and its registration. As a guide, the four real five-year premiums we publish, on two excavators, a truck trailer and a telehandler, range from 3.1% to 7.9% of the insured value over five years, about 0.6% to 1.6% a year. Get an indication in about 90 seconds to see yours. More on this page

Yes. Attachments such as augers, buckets and hammers are on the approved item list. More on this page

Yes. Boom lifts, cherry pickers, elevated work platforms and scissor lifts are all on the approved item list. More on this page

Yes. One policy can cover several items, up to $2 million per policy, and you can hold more than one policy. More on this page

It depends on your state, the unit, its value, the term and its registration. As a guide, the four real five-year premiums we publish, on two excavators, a truck trailer and a telehandler, range from 3.1% to 7.9% of the insured value over five years, about 0.6% to 1.6% a year. Get an indication in about 90 seconds to see yours. More on this page

Yes, when a contractual hire agreement is in place. Read the policy wording for the specific dry hire cover. More on this page

Wet hire means the equipment is hired out with an operator. Dry hire means the equipment only, and the hirer supplies the operator. More on this page

Yes. One policy can cover several items, up to $2 million per policy, and you can hold more than one policy. More on this page

It depends on your state, the machine, its value, the term and its registration. As a real example, a mini excavator insured for $55,209 has a five-year premium of $4,310, or about $862 a year. More on this page

The approved list has two groups: mini excavators, and excavators over 7 tonnes. Tell us the make and model and our partner will confirm the group. More on this page

No. This policy covers the machine. Public liability is a separate policy for injury and damage to others, and we explain the difference in our guide to public liability and plant insurance. More on this page

No. The policy runs for 12 to 60 months on machinery your business owns or finances. For a short hire, ask the hire company what its agreement requires. More on this page

Yes, on dry hire with a written hire agreement. Our dry hire agreement guide lists what to put in writing. More on this page

It depends on your state, the machine, its value, the term and its registration. You can see your indication in about 90 seconds, before we ask for a name, mobile or email. More on this page

Yes. Bobcat is a brand, and skid steer loaders of any make are on the approved item list. More on this page

They aren’t named separately on the approved list, so give us the make and model and our partner will confirm how it’s treated. More on this page

An attachment is covered when it’s listed on your schedule with the machine. More on this page

It depends on your state, the machine, its value, the term and its registration. As a real example, a telehandler insured for $703,150 has a five-year premium of $21,556. More on this page

There’s an automatic extension for damage to lifted goods, within the limit shown on your schedule. Read the policy wording for the conditions. More on this page

Third party property damage applies to registered machines where the schedule shows it, and not while the machine is being used as a tool of trade. It doesn’t cover personal injury. More on this page

It depends on your state, the machine, its value, the term and its registration. You can see your indication in about 90 seconds, before we ask for a name, mobile or email. More on this page

Above ground, it can be. The policy excludes a machine located or operating underground. Read the wording, and tell us how the machine is used. More on this page

No. It covers sudden and unforeseen damage, theft and total loss. A part failing because of a defect isn’t covered, though mechanical damage caused directly by covered damage is. More on this page

It depends on your state, the machine, its value, the term and its registration. You can see your indication in about 90 seconds, before we ask for a name, mobile or email. More on this page

Ground compactors are on the approved item list. Give us the make, model and value and our partner will confirm a small item fits. More on this page

Yes, conditionally registered machines can be covered. Choose Conditional on the form. More on this page

No. Cover is for equipment used wholly or predominantly for business. More on this page

No. A failure from a defect isn’t covered. The policy covers sudden and unforeseen damage, theft and total loss. More on this page

Yes, they’re on the approved item list. More on this page

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. More on this page

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. More on this page

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. More on this page

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. More on this page

Yes, if it’s used wholly or predominantly for business. Light trailers towed by a car are on the approved list. More on this page

No. Cover is for business trailers only. More on this page

It depends on your state, the trailer, its value, the term and its registration. As a real example, a truck trailer insured for $141,977 has a five-year premium of $11,190, set for the whole term. More on this page

No. Prime movers aren’t on the approved list, but the trailer can be covered on its own. More on this page

Yes, if it’s used wholly or predominantly for business. Mowers are on the approved list, new or used up to 40 years old. More on this page

No. It covers the mower itself. Public liability for your business is separate cover. More on this page

Yes. Several machines can go on one policy, up to $2 million of insured value, and you can hold more than one policy. More on this page

No. Mowers used mainly for private or household purposes aren’t covered. More on this page

A lump sum owed at the end of a loan, after all the regular repayments have been made. It’s also called a residual payment. More on this page

No. It lowers the monthly repayment, but the total cost of the loan is generally higher, because you pay interest on the balloon for the whole term. More on this page

You pay it out, or apply to refinance it, subject to the lender’s credit assessment. More on this page

On $150,000 over five years at 8.09%, from about $3,048 to $2,437 a month, with about $8,340 more interest overall. More on this page

The insurance claim goes towards what you owe the lender. Cover can pay up to an extra 30% above the insured value towards a finance payout, but anything it doesn’t cover is still owed. Check your cover matches the machine’s full value. More on this page

What’s covered and excluded, how the machine is valued, the excess, where it’s covered, cover when others use it, attachments, your lender’s requirements, and what happens at renewal. More on this page

How a written-off machine is valued: agreed value pays a figure set at the start; market value pays what it was worth just before the loss. More on this page

Usually: full insurable value for the whole loan, the lender named on the policy, and a certificate of currency before settlement. More on this page

It depends on the policy. Transit between sites is where many claims happen, so check the wording specifically. More on this page

The policy wording or product disclosure statement, not the brochure or the certificate of currency. More on this page

A document that confirms an insurance policy is in force on the date it’s issued. It doesn’t set out the full terms, conditions and exclusions of the cover. More on this page

Yes. The lender will require one before settlement, because the equipment is their security. More on this page

Through EquipCover, usually about five minutes after you accept the policy online. More on this page

The insurer or, more usually, the broker or agency that arranged the policy. More on this page

No. It isn’t part of the policy. If they differ, the policy usually prevails. More on this page

The two names are usually used for the same kind of document: a summary confirming a policy is in force on the date it’s issued. Check that it names the right business and machine and is recent. More on this page

Ask whoever arranged the policy: the insurer, or the broker or agency named on your policy documents. It can be issued at any time during the policy period. More on this page

A business loan to buy an asset such as a machine, where the lender holds security over the asset. You own it from the time of purchase. More on this page

You do, from the time of purchase. The lender holds a security interest, registered on the PPSR, until the loan is repaid. More on this page

Generally, a GST-registered business can claim the full GST credit in one tax period rather than across the repayments. Check with your accountant. More on this page

Yes. Lenders require the equipment insured for the whole loan, at full insurable value, with the lender named on the policy. More on this page

With a chattel mortgage you own the equipment from the start. With hire purchase, the financier owns it until the final instalment or until you exercise the option to buy. More on this page

The machine is the lender’s security and can be repossessed if you don’t repay; repairs, maintenance and resale risk are yours as the owner; a balloon raises the total cost; and the insurance has to be kept up for the whole loan. More on this page

Each lender sets its own, depending on the business, the machine and the term. As a reference point, the RBA’s average fixed rate on new small business loans was 8.09% in August 2026, across all small business lending rather than equipment finance alone. More on this page

Registration for non-standard vehicles, such as tractors, graders and forklifts, that don’t meet the usual requirements but need limited road access. It comes with conditions on where, when and how the machine can be used. More on this page

In NSW and Queensland it includes CTP insurance, which covers injuries to other people. It doesn’t cover damage to your machine or to property. More on this page

No. In NSW, the CTP included with conditional registration only covers roads and road-related areas, not private property. More on this page

Non-standard machines such as tractors, graders, forklifts and road construction plant, depending on the state. Queensland excludes truck-based mobile machinery and cranes. More on this page

Yes. Unregistered, conditionally registered and fully registered machines can all be covered, with the premium fixed for up to five years. More on this page

A written contract for hiring out a machine without your operator. It sets out the machine, the term, the rate, who looks after it and who pays for damage. More on this page

We don’t publish one, because it needs to suit your business and state. Use the checklist in this guide, and have a solicitor prepare or review your template. More on this page

A signed hire agreement and copies of their driver licence and credit card, before they take the machine. More on this page

Through EquipCover, dry hire can be covered when a contractual hire agreement is in place. More on this page

Whoever your agreement says. Spell it out, or you may end up paying it. More on this page

Enter the amount, term, interest rate and any balloon. The calculator uses the standard loan formula with monthly repayments in arrears. More on this page

Yes. Choose your equipment, state and registration and it adds an insurance indication for the same term, spread across the loan. Send it to us in one step and we’ll be in touch, usually the same business day. More on this page

Yes. ANZ’s chattel mortgage terms, for example, require the goods insured at full insurable value against fire, accident and theft, with the lender named as mortgagee. More on this page

Your lender’s. The starting 8.09% is the RBA’s average fixed rate on new small business loans in August 2026, not an equipment finance quote. More on this page

No. It lowers the monthly repayment but usually raises the total interest, because more of the loan stays outstanding for longer. More on this page

Yes. Chattel mortgage repayments follow the same loan formula: amount after deposit, term, rate and optional balloon. Enter the price excluding GST, and add your lender’s fees, which it doesn’t include. More on this page

In real examples from current five-year policies, between about 3% and 8% of the insured value over five years: $5,511 on a $171,700 excavator, $11,190 on a $141,977 truck trailer. More on this page

A real example: $5,511 for five years on an excavator insured for $171,700, about $1,102 a year. A mini excavator insured for $55,209 was $4,310 for five years. More on this page

Five details: state, equipment type, value ex GST, term and registration. There’s no claims-history proposal form. More on this page

Yes: from 12.99% a year more than paying upfront, and higher on shorter terms, plus a one-off admin fee worked out from the premium and capped. It isn’t a loan, and there’s no application or credit check. More on this page

No. It’s set once for the term you choose, from 12 to 60 months, and isn’t re-rated for claims or market movements in that time. The insured value is 100% in years 1 and 2, then a 10% depreciation is applied each year from year 3. More on this page

There’s no current national count of stolen plant. The ABS recorded 66,625 motor vehicle theft victims in 2025, but doesn’t count plant separately. More on this page

The multi-year policy covers theft, with conditions. Read the wording for equipment left unattended in the open and for theft by a hirer. More on this page

Yes. Choose one with its own battery so it keeps working when the machine’s battery is isolated, and hide it well. More on this page

The serial number, make, model, year, photos and purchase papers, plus details of every attachment. More on this page

An attachment is covered when it’s listed on your schedule. More on this page

The ATO gives a limit of $20,000 per asset for businesses with aggregated turnover under $10 million using the simplified depreciation rules, for assets first used or installed ready for use on or after 1 July 2023. More on this page

It goes into the small business pool, where it depreciates at 15% in the first year and 30% each year after. More on this page

Yes. The ATO applies the limit to each asset, so several assets under $20,000 can each be written off. More on this page

Yes. The May 2026 Budget announced that the $20,000 instant asset write-off would be made permanent for small businesses with turnover under $10 million, and it’s now in Schedule 2 of the Treasury Laws Amendment (Tax Reform No. 2) Act 2026. Check how it applies to your asset with your accountant. More on this page

No. It changes your tax timing. A financed machine still needs insurance and a certificate of currency. More on this page

The amount of a claim you pay yourself. The amount is specified in the insurance policy. More on this page

Not on a fixed multi-year policy. The premium is locked for the term and isn’t affected by claims. More on this page

In the policy wording. Read it before you accept the policy. More on this page

You pay the whole cost yourself, and the insurer pays nothing, because the damage doesn’t exceed the excess. More on this page

Yes, some policies set different excesses for different events or machines. The policy wording lists them. More on this page

A higher excess lowers the premium, but you need to be able to pay it when you claim. Where a policy lets you choose, pick an amount you could cover in the same month as a finance repayment. More on this page

Sometimes. If someone else was at fault, the insurer may recover the cost from them and refund your excess. The policy wording says when an excess is refunded. More on this page

Yes. A funder pays your premium up front and you repay it in instalments with interest. Westpac says it “acts like a short-term loan”. More on this page

After notice, the lender can cancel the policy and still pursue you, and any guarantor, for what’s owed. Westpac’s terms give at least 30 days’ notice of a missed payment first. More on this page

The cover stops. Paying monthly isn’t a loan, so there’s no loan balance to repay. More on this page

From 12.99% a year more than paying upfront, and higher on shorter terms, plus a one-off admin fee worked out from the premium and capped. Your indication shows the initial payment, each monthly payment and the total. More on this page

Yes. Under the Insurance Contracts Act it must give written notice, or rely on the policy’s own terms once an instalment has been unpaid for at least a month, if it told you about those terms in writing beforehand. More on this page

When you want several annual policies from different insurers in one monthly instalment, or the equipment isn’t on the approved list for multi-year cover. More on this page

Enough to cover ownership, running and operating costs over the hours it really works, plus your margin. The calculator works it out from your own figures. More on this page

They vary with the machine size, region, job and whether it’s wet or dry hire, and we couldn’t find a public, independent source for them. Work out your own break-even rate first, then compare it with what local hire firms charge. More on this page

Use the hours the machine really worked last year, not the hours you hope for. Idle time still costs you finance and insurance. More on this page

On a real $171,700 excavator with a five-year premium of $5,511, about $1.10 an hour at 1,000 hours a year. More on this page

Usually, but check. Some wet hire rates exclude fuel, so state it in your agreement. More on this page

Up to five years. You choose a term from 12 to 60 months. More on this page

No. The premium is locked for the term and isn’t affected by claims, inflation or market movements. More on this page

No, it’s designed around asset finance, but it also covers equipment bought outright without finance, and the premium is the same either way. More on this page

Yes. New or used equipment up to 40 years old can be covered. More on this page

Yes, when the equipment isn’t on the approved list or isn’t used for business. More on this page

No. Public liability responds to harm to other people and their property. Damage to your own machine needs plant and equipment insurance. More on this page

Not the policy we refer to. It can include third party property damage for registered machines where the schedule shows it, but not personal injury. More on this page

Head contractors and councils often ask for it before you start on site. Check the contract for the amount they want. More on this page

Not usually for damage to the machine itself. Check your hire agreement and your policy. More on this page

Some insurers package them, usually on an annual policy. EquipCover’s multi-year policy covers the machine only. More on this page

9% of the premium on general insurance. Motor vehicle cover and some other classes are 5%. More on this page

For business insurance, 7% on contracts effected or renewed from 1 July 2026 to 30 June 2027, falling one percentage point a year until it’s abolished from 1 July 2033. Non-business insurance is 10%. More on this page

South Australia, at 11% of the premium. More on this page

The ACT Revenue Office doesn’t list general insurance duty among its business taxes and levies. More on this page

Queensland and Tasmania both calculate duty on the premium including GST. More on this page

Wet hire means the equipment is hired out with an operator. Dry hire means the equipment only, and the hirer supplies the operator. More on this page

Yes, when a contractual hire agreement is in place. The policy wording sets out the specific dry hire cover. More on this page

For dry hire cover, yes: cover applies when a contractual hire agreement is in place. More on this page

The hirer. Check their operators are trained and licensed where the machine requires it. More on this page

Check your finance agreement first, as some limit how the financed machine can be used. More on this page

Insurance prices paid by households rose 47.9% in the five years to June 2026, against 24.1% for all prices (ABS). More on this page

Mainly claims from natural disasters, the rising value of insured assets, and higher building and vehicle repair costs. More on this page

Since 2019 the Insurance Council of Australia has declared 29 extreme weather events, totalling $20.7 billion from more than 760,720 home and building claims. More on this page

No. The ABS figures measure household insurance. They show the pressures insurers face, not equipment premiums directly. More on this page

For the term of the policy, yes. A fixed multi-year premium isn’t affected by claims, inflation or market movements during that term. More on this page