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Working on construction projects that can often require using your own plant, including cement mixers, generators, trailers and the like.
If this equipment is damaged or worse stolen, it could set you back or even stop you from getting a project finished. Ensuring you have the appropriate level of owned plant insurance cover is a worthwhile consideration.
Often this type of equipment costs thousands of pounds and is expensive to replace. But with owned plant insurance, you can have peace of mind knowing that if your equipment is unexpectedly damaged or stolen, your insurance will help cover the costs of repairs and/or replacement so that you’re not out of pocket.
Owned plant cover at a glance:
- Cover for accidental damage, theft or loss of owned plant
- Protection on-site
- Up to £50,000 cover per claim available
- Includes machinery and heavy equipment
What is owned plant insurance?
Owned plant insurance helps protect you financially against the costs of damage or loss of plant machinery that you own. It can cover a wide range of risks from flood and fire to theft and vandalism.
Owned plant refers to construction machinery and equipment used in connection with your contract, with a value of £5,000 or more, that your business owns. This, for example, can include anything from forklifts and cherry pickers to dumpers and concrete mixers.
Our owned plant insurance is available with cover limits ranging from £10,000 up to £50,000. Owned plant cover can be bought as an add-on to your tradesman insurance policy which can include public liability insurance, personal accident insurance and other types of cover.
Example policy documents
If you have an existing policy with us, please sign in to view your policy documents.
Below you will find examples of the documents provided.
Why choose Markel for owned plant insurance?
There are many reasons to choose us as your owned plant cover provider. Listed below are just a few:
Owned plant cover from
£17.00 per month*
*Price based on a tradesperson requiring £10,000 of owned plant insurance.
Do I need owned plant insurance?
If you own construction machinery, it is wise to consider getting covered with owned plant insurance. Plant can be of great value to your business and essential to the job. Despite how careful you are, the dangerous nature of construction sites means there is always the risk of something going wrong and potential for your machinery to be damaged. As well as the dangerous nature of the job, severe weather conditions, burglary and other unpredictable events can put your machinery at risk.
Without owned plant insurance, covering the cost of repairing or replacing machinery could put you under great strain financially.
If you hire plant equipment rather than own it, hired in plant insurance would be more suitable for you to consider. If you also use handheld or power tools such as drills, sanders and saws, it’s important to note that these would not be covered by plant insurance. For this type of equipment, you would need tools insurance.
How it works
Choose the cover you require
Get a quote you need in minutes
Buy online or contact one of our advisors
What does owned plant insurance cover?
Owned plant insurance can help protect your business against financial loss resulting from damage to, or theft of, plant and machinery you own. An owned plant insurance policy can support the cost of repairing or replacing damaged equipment, helping you minimise disruption and continue working following an unexpected incident, following:
What is covered
What is not covered
Indicative quotes
Groundworkers
- Limited company
- 0 employees
- £70,000 turnover
- Southampton
- (£685.27/yr)
- £68.53/mo
- Own plant £50,000
- Public & property liability £1m
- Employers' liability
- Cyber
Ground maintenance
- Sole trader
- 0 employees
- £60,000 turnover
- Oxford
- (£435.68/yr)
- £43.57/mo
- Own plant £50,000
- Public & products liability £1m
- Employers' liability
- Cyber
Builder
- Limited company
- 0 employees
- £80,000 turnover
- Exeter
- (£435.68/yr)
- £43.57/mo
- Own plant £50,000
- Public & products liability £1m
- Employers' liability
- Cyber
*Final price payable is subject to underwriting criteria and acceptance. AI images are used on this website to depict example customer types. Any resemblance to an actual person is purely coincidental.
How much does owned plant insurance cost?
At Markel Direct, we offer owned in plant insurance from £17 a month for £10,000 million worth of hired in plant insurance*. When it comes to insurance, the cost varies from business to business depending on;
- The size of your business - your turnover and whether you have any employees
- The level of cover you choose
- The types of projects you work on and the equipment you use.
To get a clearer idea of how much you’ll pay, simply get a quote online.
*Price based on a tradesperson requiring £10,000 of owned plant insurance.
Ready to build your quote?
Our simple quote process will help you to find the right business insurance for your individual needs.
Frequently asked questions
These frequently asked questions are designed to help you and include questions relating to policy cover, pricing and ‘technical’ terms.
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Does owned plant insurance cover equipment off-site?
Yes, as well as covering own plant at your contract site, our policy will also cover machinery and equipment that is temporarily away from your contract site if it is:
- Stored in a securely locked premises, compound or garage.
- Stored within a securely locked vehicle (note that between the hours of 18.00 and 08.00, the vehicle must be securely locked and parked within a securely locked building or a guarded security park).
You can find more details on this in our owned plant insurance policy document.
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What is the difference between owned plant insurance, hired in plant insurance and short-term hired in plant insurance?
Owned plant insurance covers the cost of repairing or replacing plant that you own, if it is stolen or damaged. By contrast, hired in plant insurance only covers plant that you have hired in on contract, likely through a leasing company. Hired in plant insurance will cover you against your legal liability if the equipment is damaged or stolen while leased out to you.
Short-term plant hire insurance is an alternative to an annual policy. If you only hire plant equipment occasionally, this may be more suitable for you so that you are covered only for the period of hire and not for the entire year.
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How do I make a claim?
With our award-winning claims service, making a claim is simple. For guidance on to make a claim, visit our claims page.
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How are Markel Direct regulated?
Markel Direct is a trading name of Markel International Insurance Company Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Find out more on the Financial Services Register.
We are a division of Markel International, a Lloyd’s of London market insurer that wrote gross premium totals of £2.4bn in 2023.
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