How to Reduce Plant Hire Insurance Premiums

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Practical risk management strategies to lower insurance costs for plant hire businesses

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We help reduce premiums with leading UK plant hire insurers

  • Allianz
  • Aviva
  • QBE
  • RSA
  • Zurich
  • NIG

REDUCING PLANT HIRE INSURANCE COSTS THROUGH RISK MANAGEMENT

Plant hire insurance premiums reflect risk. High-value machinery, theft exposure, frequent transportation and third-party use all contribute to claims frequency and severity.

While some risks are unavoidable, many plant hire businesses pay higher premiums than necessary due to avoidable exposures, weak procedures or poorly structured insurance programmes.

This guide explains how effective risk management can reduce claims, improve insurer confidence and ultimately lower your plant hire insurance costs.

What Affects Plant Hire Insurance Premiums?

  • Value and type of plant & machinery
  • Claims history and loss frequency
  • Theft and security controls
  • Storage locations and flood exposure
  • Delivery and transport risks
  • Health & safety management
  • Contract terms and liability limits

Improve Plant Security to Reduce Theft Claims

Theft of plant and machinery is one of the most common and costly claims faced by plant hire insurers. Improving security can have a direct impact on premiums.

  • Secure, fenced and gated yards
  • CCTV and monitored alarm systems
  • Immobilisers and tracking devices
  • Key control and sign-out procedures
  • Secure overnight storage policies

Maintenance & Inspection Procedures

Well-maintained plant is less likely to fail, cause injury or result in damage claims. Insurers look favourably on documented inspection and servicing regimes.

  • Pre-hire inspection checklists
  • Routine servicing schedules
  • Defect reporting and repair logs
  • Removal of unsafe plant from hire

Reduce Delivery & Transport Risks

Many plant hire claims arise during loading, unloading and transportation. Improving transport controls can significantly reduce losses.

  • Driver training and competency checks
  • Load securing procedures
  • Safe loading and unloading areas
  • Vehicle maintenance and inspections

Review Hire Contracts & Liability Exposure

Poorly drafted hire contracts can expose plant hire businesses to unnecessary liability and uninsured risks.

  • Clear responsibility for loss or damage
  • Defined customer insurance obligations
  • Appropriate liability limits
  • Alignment with insurance policy terms

Optimise Your Insurance Programme

The structure of your insurance programme can materially affect cost. Many plant hire businesses reduce premiums through smarter policy design.

  • Accurate sums insured
  • Appropriate excess levels
  • Combined / package policies
  • Removal of unnecessary extensions

How Insure24 Helps Reduce Premiums

  • Risk-focused insurer presentations
  • Access to specialist plant hire underwriters
  • Claims trend analysis
  • Policy reviews and restructuring
  • Ongoing risk management advice

FREQUENTLY ASKED QUESTIONS

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Can plant hire insurance premiums be reduced?

Yes. Improved security, maintenance, risk controls and policy structure can significantly reduce premiums over time.

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Do insurers reward good claims history?

Yes. Fewer and lower-value claims generally lead to better pricing and wider insurer appetite.

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Does increasing excess reduce premiums?

Often yes. Higher excesses can reduce premium, but they must remain affordable for your business.

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Should I review insurance every year?

Yes. Regular reviews ensure cover remains appropriate and avoids paying for unnecessary protection.

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Can Insure24 help with risk management?

Yes. Insure24 provides practical advice to improve risk profiles and secure more competitive insurance terms.

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