Dry Hire Insurance.
Protect Assets in Third-Party Hands.
Cover your machinery and equipment when it's hired out without an operator.
24h
Quote Turnaround
$20M+
Liability Limits
100%
Asset Protection
Recognition
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Understanding Dry Hire Insurance
Dry Hire Insurance is a specialised policy designed for businesses that rent out machinery or equipment without providing an operator.
Unlike wet hire, where you supply both the equipment and a trained operator, dry hire means the hirer takes full control of the machinery.
This setup is common in industries like construction, mining and agriculture across Australia, but it comes with unique risks that require specific coverage.
RISK ARCHITECTURE
Why Dry Hire Insurance is Essential
When you hand over valuable equipment to a third party, you're trusting them to use it responsibly. Accidents happen, and without the right insurance, you could be left footing the bill for repairs or replacements. Here's why Dry Hire Insurance matters for your business:
Machinery such as excavators or telehandlers can cost tens of thousands of dollars. Dry Hire Insurance protects against financial loss from damage or theft.
Hirers might misuse equipment, leading to costly repairs. A good policy ensures you're not left out of pocket.
If your equipment causes injury or property damage while on hire, Public Liability coverage can handle legal and medical costs.
Covers lost hire income if your equipment is out of action due to repairs or accidents.
With the right policy, you can focus on growing your business knowing your assets are protected.
SECTOR ANALYSIS
Who Requires Dry Hire Insurance?
Below are the main groups who need Dry Hire Insurance:
Companies that specialise in renting out machinery such as excavators, cranes, forklifts or generators need Dry Hire Insurance to protect their core assets.
Construction businesses that own equipment and occasionally rent it out to other contractors need coverage. This is common for companies with surplus machinery like scissor lifts or bobcats during quieter periods.
Farmers or agricultural companies renting out equipment such as tractors or harvesters to other farms or contractors require Dry Hire Insurance to cover their assets during the hire period.
Businesses renting out equipment for events, including lighting rigs, sound systems or staging, need Dry Hire Insurance to cover damage or theft by event organisers or third parties.
Individuals who own high-value equipment, like a landscaper renting out a stump grinder or a tradie leasing a cherry picker, should get Dry Hire Insurance to protect their investment.
Companies in the mining or industrial sectors that lease heavy machinery such as drilling rigs or loaders to other operators require Dry Hire Insurance to cover high-value equipment used in demanding environments.
POLICY SPECIFICATIONS
Key Features of Dry Hire Insurance
Not all policies are created equal, and standard Plant and Equipment Insurance often won't cover dry hire activities. Here's what you can expect from a quality Dry Hire Insurance policy:
Covers repairs for unexpected damage during hire, such as a hirer dropping a tool or crashing a machine.
Replaces stolen equipment, which is critical in high-risk areas.
Protects against intentional damage by hirers or third parties.
Typically offers $10 million or more in coverage for third-party injuries or property damage caused by your equipment.
Ensures all listed attachments like buckets or drills are covered alongside the main equipment.
Often offers monthly payment options through premium funding to align with your cash flow.
KNOWLEDGE BASE
Frequently Asked Questions
Protect your assets with specialist Dry Hire Insurance
Call us on 02 9000 1155 or request a quote online.