Owned plant insurance

Specialist owned plant insurance from £17 a month*.

  • Fast, easy online quote in 90 seconds

  • Levels of cover to suit you

  • Pay by interest free direct debit

Working on construction projects 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.

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 cover the costs of repairs and/or replacement so that you’re not out of pocket.

At Markel Direct, we aim to offer superb value owned plant cover that you can rely on, as part of our tradespeople insurance package.

What is owned plant insurance?

Owned plant insurance protects you financially against the costs of damage or loss of plant machinery that you own. It covers 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. While tradespeople can hire plant equipment, if it’s something you use as part of your everyday job, it can be more cost effective to buy the equipment yourself.

Our owned plant insurance is available with cover limits ranging from £10,000 up to £50,0000. Owned plant cover can be bought as an add-on to your tradesman insurance policy which can include public liability insurance, occupational personal accident insurance and other types of cover.  

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.

Why choose Markel Direct for owned plant insurance?

There are many reasons to choose us as your owned plant cover provider. Listed below are just a few:

✔ High ratings on Feefo.com

Don’t just take our word for the quality of our cover – read our impressive customer ratings on Feefo.com.

✔ Get a quote in under 2 minutes

We know you’re busy running a business which is why we’ve made getting a quote fast and easy. Simply fill in our short online form and we’ll provide you with a quote for owned plant insurance in as little as 90 seconds.

✔ Transparent pricing

We believe that our policies offer excellent value for money, and thanks to our transparent pricing, you won’t face any unexpected charges.

✔ Tailored cover

We understand that a one-size-fits all approach doesn’t work when it comes to tradespeople insurance which is why we provide tailored cover to suit your specific needs.

✔ 24/7 legal helpline

For any legal information and guidance, you can contact our round-the-clock legal helpline run by experienced solicitors.

How much does owned plant insurance cost?

The price of owned plant insurance depends on the level of cover you choose to buy – for example having £50,000 of cover will be more costly than having £10,000 of cover.

To find out how much you can expect to pay, get a quote today.

*Price based on a tradesperson requiring £10,000 of owned plant insurance.

Customer reviews


Rated 4.8 stars from 351 customer reviews at Google

Markel Direct - Feefo Platinum Trusted Service Award

Cover starting from £17 a month

What other types of insurance can protect my business?

  • Public liability insurance

    Public liability insurance protects you if a client or a member of the public suffers injury or property damage due to the actions of your business. Choose a level of cover ranging from £1 million to £5 million.

  • Employers’ liability insurance

    If you have one or more people working for your business, even if it’s on a temporary or part-time basis, employers’ liability insurance is a legal requirement. It protects you financially if an employee makes a claim against you for an injury or illness they have suffered due to the work they do for you. By law, you must have a minimum of £5 million worth of employers’ liability insurance in place. At Markel Direct, we provide cover of up to £10 million.

  • Tools insurance

    As well as large items of plant that you own, you may also own smaller tools that you wish to protect in case of loss or damage. We provide tools insurance with limits ranging from £1,000 to £5,000.

  • Occupational personal accident insurance

    If you sustain an injury at work or while on your way to or from work that prevents you from doing your job, occupational personal accident insurance can provide you with an income. Depending on the type of injury you suffer, it can provide either weekly payments or a lump sum.

  • Hired in plant insurance

    Hired in plant insurance covers you for plant machinery and equipment you have hired in from a leasing company, for example cherry pickers, forklifts and so on. If the plant is damaged or stolen, hired in plant insurance will cover you financially against the costs of repairs and/or replacement. Cover limits range from £10,000 to £50,000.

  • Contract works insurance

    Designed for builders and other tradespeople, contract works insurance covers work you and your employees are completing on a construction site. If your work is affected due to an insured event like a flood or fire, or by theft or malicious damage, contract works insurance can protect you financially against the costs of having to repair or redo work that’s in progress.

  • Goods in transit insurance

    Popular among tradesman, goods in transit insurance covers goods against loss or damage while in transit from one place to another. This can be either goods transported in your own vehicle, or on your behalf by a third-party carrier.

  • Professional indemnity insurance

    Professional indemnity insurance protects you if you provide professional services, advice or designs to your clients. If a client accuses you of making a mistake in your service and makes a claim against you, this insurance will cover your legal fees and compensation owed.

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Cover starting from £17 a month

Frequently asked questions

  • 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 .

  • What is the different 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.

  • How do I make a claim?

    We pride ourselves on our simple claims process and award-winning service. To find out how you can make a claim, visit our claims page.

  • How is Markel regulated?

    Markel is regulated by the Financial Conduct Authority and Prudential Regulation Authority. You can take a look at the Financial Services Register to discover more.

Access free legal services for your trades business when you arrange cover with Markel:

Insure with Markel and you'll get access to a wide range of services (included as standard with certain covers) designed to make your life easier.

Legal advice helpline 24 hour legal advice helpline 

When you insure with Markel, you'll benefit from 24/7 telephone access to a qualified solicitor at no additional cost. Expert legal advice can be costly when you're working for yourself and it's difficult to know who to turn to for a trustworthy answer. Whether it's a question on health and safety, employment law, legal structures for your business or how to handle a difficult client, an experienced team of solicitors are on hand day and night to help you with any business-related legal queries. Included as standard with all policies.

Markel Business Hub Markel Business Hub access

In addition to our 24 hour legal helpline, you'll have access to the Markel Law Hub - an award winning online resource of legal and business guides, templates and content written and created by our team of expert solicitors. Instantly download ready-made contracts, policies, procedures and guidance you can use for your business - without paying any expensive legal fees. Included as standard with all policies.

Fee dispute service Fee dispute service

As every contractor, consultant or self-employed professional knows, customers don't always pay on time and chasing fees/invoices costs time and money. Mindful of the impact this has on your business, we offer our policyholders access to a unique fee dispute helpline operated by one of the UK's leading law firms, who will provide specialist legal guidance and support on fee dispute issues. Included as standard with professional indemnity insurance.

IR35 contract review Discounted IR35 contract reviews

Falling within IR35 legislation - which determines whether an individual is avoiding tax by using a limited company to disguise employment - is a concern for many engineering contractors and consultants, with the fees and penalties due to HMRC eye-wateringly high. Our policyholders receive an exclusive discount on IR35 contract reviews from Markel Tax (a Markel company), who have over 20 years experience advising individuals and businesses on their tax status. As part of the service, Markel Tax will review your contract, along with your working practices, to determine whether or not you are operating outside of IR35, and you'll receive a written report with suggested contract amendments where appropriate. Policyholders can access this service by calling 0345 223 2727 or emailing contractreviews@markel.com, quoting 'MKLD' and your policy number.

PR crisis management Public relations crisis management service

In today's 24 hour news culture, public relations disasters can occur at any time. Having to deal with the press whilst managing a difficult situation can be hugely stressful as well as being a potential minefield. When there is a risk to your business as a result of negative press attention, our specialist public relations crisis management firm, The Counsel House, will work with you to help manage allegations of fraud, injury caused to employees or the public, and official investigations into your company's affairs. Included as standard with professional indemnity insurance, directors and officers insurance, cyber and data risks insurance and legal representation and employment disputes insurance.

Cover starting from £17 a month