Portable Equipment
Insurance.

Portable equipment insurance is designed to cover accidental loss or damage to business equipment that moves between locations. It is sometimes referred to as general property insurance. It can cover equipment used at your premises, at client sites, in transit or anywhere in Australia, subject to policy terms. It is commonly arranged by businesses that rely on portable tools, devices or instruments to carry out their work.

Portable equipment insurance does not typically cover general mechanical or electrical breakdown not caused by an external accident. Wear and tear and gradual deterioration are generally excluded. Theft from an unattended unlocked vehicle is commonly excluded or subject to specific conditions. Unexplained disappearance without evidence of theft may also be excluded. Conditions and exclusions vary by policy.

There is no general law requiring businesses to hold portable equipment insurance in Australia. Some client contracts, hire agreements or equipment leases may require evidence of cover as a condition of the arrangement. Requirements vary by client and industry.

A wide range of portable business equipment can be insured under a portable equipment policy. Common examples include laptops, tablets, cameras, audio-visual equipment, diagnostic and testing instruments, survey equipment, medical devices and portable power tools. Cover is generally limited to equipment listed on a schedule and may be subject to individual item limits. Get in touch and we can confirm what may be insurable and any conditions that apply.

The cost of portable equipment insurance varies depending on the total value of equipment insured, the types of items covered and the operating environment. Lower risk equipment in lower-risk operations can generally attract modest premiums relative to the sum insured. Higher risk equipment categories or businesses with prior claims may attract higher rates. Every situation is different. The only way to get an accurate figure is to talk through your specific equipment with us.

Portable equipment claims vary widely. The replacement cost of a stolen laptop may be several thousand dollars. A total loss of a high-value camera rig, diagnostic system or specialised testing instrument can run into tens or hundreds of thousands of dollars. Businesses without cover bear these replacement costs directly and may also face lost revenue while replacement equipment is sourced.

Cover for theft from unattended vehicles varies by policy and is a common area of contention in claims. Many policies require the vehicle to be locked and the equipment to be out of sight in a secured area such as a locked boot or locked hard-top canopy. Some policies exclude theft from unattended vehicles entirely. Check the policy wording carefully and get in touch and we can confirm the conditions before you rely on this cover.

Many portable equipment policies provide cover across Australia as standard. Overseas cover varies by policy and may be limited in scope or duration, or require a separate extension. If your business uses equipment outside Australia, get in touch and we can confirm whether overseas cover is included and what conditions or limits apply.

General property insurance and portable equipment insurance describe the same cover. Insurers and brokers may use either term depending on their own product naming conventions. Both refer to cover designed to protect portable business equipment against accidental loss, damage or theft while away from a fixed premises.

Portable equipment insurance and tools of trade insurance are closely related. Tools of trade insurance is typically used to describe cover for portable hand and power tools carried by tradespeople, while portable equipment insurance often refers to a broader range of business equipment including electronic devices, cameras and specialist instruments. In practice, both covers can be structured similarly and the terminology varies between insurers. Get in touch and we can help identify which label and product best fits your equipment.

Business contents insurance generally covers equipment and furnishings at a fixed business premises. Portable equipment insurance is specifically designed for items that leave the premises and are used at client sites, in transit or across multiple locations. If your equipment moves regularly, a business contents policy alone may not provide cover away from the insured premises.

Insurers typically ask for a schedule of portable equipment to be insured including item descriptions and individual values, the total sum insured, the types of business activities the equipment is used for, where the equipment operates including any interstate or overseas use, storage and security arrangements and claims history. When you get in touch, we will help you compile this information and present it to our insurer panel.

Notify us as soon as possible. For theft, report the incident to police immediately and retain the event number, as most policies require a police report for theft claims. Retain any damaged equipment for inspection and do not dispose of it or authorise repairs without first consulting us. We will be actively involved throughout the claims process.

A decline from a standard insurer does not mean cover is unavailable. We have access to a wider range of insurers beyond the standard market. Get in touch and we can identify what options are available for your equipment and circumstances.