Equipment Hire Business Insurance*

Business Insurance for Equipment Hire*

As an owner of an Australian business that hires out equipment or machinery, it’s important you have suitable insurance to protect you and your business against potential risks.

Whether equipment hire is your primary business function, or complements your other business activities, suitable business insurance is vital. Equipment hire businesses may range from hiring out machinery and construction equipment to party supplies and wedding décor. Business insurance can help PROTECT YOUR ASSETS and cover you if something goes wrong.

Many Business Owners are UNSURE if they are COVERED PROPERLY.
We help them find affordable and SUITABLE INSURANCE so they can run their business with CONFIDENCE.*

It is important to know the types of business insurance available and the insurance coverage that your business could benefit from.

Public and Products Liability insurance is your first step when it comes to protecting yourself and your business. This type of policy provides protection for claims by a third party for any injury, loss or damage caused by the equipment and/or machinery you hire out. This may include injury to a customer, a third-party, or damage to someone’s else property.

To obtain Public and Products Liability insurance as a hire business, insurance companies require you to have:

  1. A hire agreement in place
  2. Regularly check and maintain the equipment or machinery to make sure it is in good operating condition.

Commercial Machinery Insurance may cover the machinery you hire out in the case of fire, theft and accidental damage caused by you, the hirer or a third-party.

Commercial property insurance may cover the building and facilities where you store your hire equipment/machinery in the event of fire, theft, storm damage and other insured events.

Business interruption or downtime insurance may provide financial support if you are forced to close your hire business for an extended event due to defined events such as a fire, theft or damage to the machinery or equipment hired out.

Cyber Liability Insurance may protect your equipment hire business from potential financial losses or any reputational damage that may arise from a cyber-attack or breach of data security. This type of insurance may also provide reimbursement or reimbursement of any money spent on responding to an attack and the costs incurred with repairing any damage caused, including notifying customers of the data breach.

At ‘Smart Business Insurance’, our team of brokers specialise in helping match small business owners with suitable and affordable business insurance.

 Protect your hire business and make sure it is adequately covered with the appropriate insurance. Contact us today!

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