The true value of insurance lies far beyond the policy paperwork: it lives in day-to-day business confidence and in the assurance that if things go wrong, they won’t stay down for long.
The earthmoving sector’s scale and speed mean a single incident, whether an accident, an equipment failure or a theft, can halt operations and put investments at risk.
That’s why businesses in the industry can’t afford to underestimate the folly of inadequate insurance coverage or to push the subject to the back burner.
As Jane Cook, Executive General Manager Plant and Machinery at UAA, said: “Don’t wait until a claim to find out what’s in your policy. A good conversation now can save you a lot of downtime later.”
“Insurance is more than a box to tick. The right cover gives you the confidence to take on new projects, invest in better gear and grow safely, because you know that if something goes wrong, you’ve got the backing to get back to work quickly.”
She said the difference between good and great cover is proactivity.
“Staying connected with your broker, reviewing policy schedules and understanding responsibilities under contracts all play a pivotal role,” she said.
“A common mistake we see is when operators don’t keep their insured values up to date with current market conditions.
“Because plant and machinery policies are generally settled on market value at the time of loss, if your listed value is well below what similar equipment is selling for today, you could end up short when it matters most.
“For example, if a machine is insured for $300,000 but the current market value is closer to $400,000, that $100,000 gap can make a big difference in how much you’re able to recover after a loss.
“The easiest way to avoid this is to review your policy schedule regularly and talk with your broker about what machines are worth in today’s market. Used equipment values have shifted a lot in recent years, and even small adjustments can make a big difference to your protection.”
UAA solutions
For more than 20 years, Jane has seen both the challenges and transformations in plant and machinery insurance.
Her story at UAA started in administration before she rose to underwriting leadership: a career built on opportunity, continuous learning and empowering her team to perform at their best.
So she knows full well the strength of UAA’s commitment: understanding how earthmoving operations work in practice — whether it’s changing fleet profiles, new finance arrangements or complex contractual obligations. That in-depth understanding means clients can rely on policies that meet the realities of the industry, not just generic standards.
“We’re not just looking at numbers on a screen,” Jane said. “We’re looking at how we can keep plant owners, operators and contractors moving.”
Emerging challenges
Jane said that the plant and machinery sector has changed dramatically in the past two decades.
“When I first started at UAA, everything was far more manual, from quoting and underwriting to how we assessed and settled claims,” she said.
“Over the years, the biggest change has really been the professionalisation and sophistication of both the industry and our customers. Contractors today are running complex businesses with large fleets, finance arrangements and contractual obligations that require a far deeper understanding of risk and coverage than ever before.
“We’ve also seen a real shift in expectations around service and transparency. Brokers and clients want fast turnaround times, clear communication and the confidence that their insurer understands the realities of working with heavy equipment.
“Technology has helped enormously in that space, both in the way we operate internally and how machinery is managed on site.
“The claims environment has also evolved significantly. We’re seeing more focus on data-driven decisions, root cause analysis and prevention strategies rather than just reacting to losses.”
Jane said that overall the industry has matured and UAA has kept pace along the journey.
“It’s been great to see UAA grow alongside that, staying true to our niche while continually improving how we support the earthmoving and plant sector,” she said.
She said that one of the biggest challenges is keeping insurance in step with how fast a business can change.
“Earthmoving companies often add new machines, attachments or contract types throughout the year, and sometimes those updates don’t make it onto the policy until renewal time,” she said. “If something happens in between, there can be gaps in cover.”
Another ongoing challenge is around understanding responsibilities under hire or subcontract agreements.
“There’s a lot of fine print in those documents, and it’s not always clear who’s responsible if a machine is damaged, breaks down or causes third-party damage,” she said. “Getting that clarified upfront can save a lot of stress later.”
Jane said businesses sometimes overlook the effects of transport or mobilisation: machines being moved between sites, loaded too quickly or not properly secured.
“It’s often not a big event, but it can still cause major repair costs and downtime. The simple lesson is to slow down a little: check tie-downs, confirm clearances and make sure whoever’s doing the move has the right equipment and permits,” she said.
Another common area is damage on hire or jobsites, especially when machines are being shared between multiple operators or subcontractors.
“That’s where good paperwork, hire agreements, pre-start checklists and condition reports really pay off,” she said.
“And of course, theft remains a big issue across the country. We’re seeing more organised theft rings, particularly targeting attachments and smaller gear.
“The best defence is still basic: immobilisers, GPS tracking, lighting and keeping machines off-site or locked where possible.”
Take cover
Jane’s advice to earthmoving businesses is straightforward:
- Stay connected: Build a strong relationship with your broker, as steady dialogue leads to responsive, relevant cover.
- Stay current: Keep policy schedules updated as equipment values and fleet profiles change.
- Stay informed: Don’t leave policy details or contract responsibilities until it’s time to claim.
“UAA’s specialist approach to earthmoving and plant insurance means expertise, innovation and unwavering support,” Jane said. “The team is committed to helping you minimise downtime, avoid costly mistakes and grow with the confidence of truly comprehensive cover — so you can keep building and thriving.”
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