Portable Equipment

This insurance cover provides repair or replacement provisions for accidental loss or damage to your non-fixed business property such as tools or portable computers.

Did you know?

  • Some policies may not cover property that is fixed to a vehicle, whilst some do. This is especially important for contractors, tradesman or retailers that have heavy business equipment fixed to the back of their work vehicle.
  • Coverage is provided on either an ‘ Accidental Damage’ or ‘Defined Events ’ basis.

What’s typically covered?

Loss or damage that is caused by:

  • Fire, storm, water, explosion, impact by a vehicle
  • Earthquake, aircraft impact, malicious damage
  • Collision or overturning of the conveying vehicle
  • Theft following visible, forcible and violent entry to locked vehicles, including locked tool boxes securely attached to the vehicle, or locked buildings
  • Theft of equipment securely attached to a vehicle through the use of locks or padlocks

*Note that insured items will need to be identified and valued on your insurance certificate, including:

  • Mobile plant
  • Photographic or video equipment
  • Mobile communication equipment, including telephones and radios
  • Sporting equipment
  • Electronic equipment, including computers, diaries, GPS units
  • Accessories for the items listed above

What’s typically NOT covered?

Loss or damage that is caused by:

  • Cracking, scratching, marring or breakage of glass or fragile items or surfaces
  • Rust, oxidation, mildew, mould, moths, insects, vermin, dry rot, change of colour/flavour, contamination or pollution
  • Any process of heating, drying, cleaning, dyeing or alteration to any insured item
  • The action of light or atmospheric conditions or gradually developing conditions, wear and tear and/or depreciation
  • Dishonesty or trickery by you or others to whom any insured item may be delivered, entrusted, loaned or rented
  • Theft by employees
  • Unexplained inventory shortage
  • Theft, other than theft resulting from armed hold up, the direct threat of physical violence or forcible and violent entry, evidenced by visible damage to the securely locked portion of any building or vehicle containing any insured item, or theft of equipment securely attached to a vehicle through the use of locks, which results in visible damage to the securing devices
  • Actions of the sea, tidal waves or high water or flood
  • Faulty materials or workmanship
  • Mechanical, electronic or electrical breakdown unless as a consequence of an insured loss

Things to consider

  1. Does your business rely on property (such as tools), that are not fixed items?
  2. Does your portable equipment have a combined value, such that replacement or repair of the equipment could put your business under financial stress?
  3. Is your portable equipment stored in an open air or covered building? Your insurer may distinguish between these two.