A mine without its machinery isn't a mine. Excavators, haul trucks, drill rigs, dozers and mobile plant represent some of the largest capital exposure on any site — and the equipment most exposed to breakdown, collision and operational damage. We structure cover around the equipment list, not a generic plant schedule.
Every machine on site carries a different risk profile depending on how it's used, where it operates, and how it's owned. Cover is structured item-by-item, not as a blanket average.
Excavators, haul trucks, dozers, loaders, drill rigs and graders — insured for accidental damage, overturning, fire and theft.
Mechanical or electrical breakdown of fixed and mobile plant — the exposure standard asset policies typically exclude.
Cover extended to equipment brought on site by contractors, or hired in to supplement the owned fleet.
Damage caused by, or to, mobile equipment during operation — on-site and, where relevant, on public roads.
Where a critical machine is down for repair, cover for the resulting operational impact can be structured alongside the asset.
Sums insured set to reflect your required replacement cost of specialised mining equipment — not depreciated book value, i.e. Agreed Value, New Replacement or Market Value.
Mobile equipment operates across pits, haul roads and sometimes multiple sites — a different risk pattern to fixed site assets. Reviewing the fleet as its own category means valuations stay current as equipment is added, sold, or moved between sites, and claims aren't delayed by disputes over which policy responds.
Usually not in full. Fixed plant tends to sit on the asset policy, while mobile equipment — excavators, haul trucks, dozers, loaders — is generally rated and insured separately because it moves, operates on uneven ground and carries a different loss profile. Assuming mobile fleet is picked up by the property section is a common source of gaps.
All-risk responds to sudden external physical damage — fire, impact, overturning. Machinery breakdown responds to internal failure: electrical or mechanical failure, and in many cases operator error. A machine that fails internally with no external damage is a breakdown claim, not a property claim, so a programme carrying only all-risk can leave a large exposure open.
On what it would cost to replace with equivalent equipment delivered and commissioned at your site, rather than on book value or a trade-in figure. For imported plant that means allowing for exchange rate movement, freight and duties. Under-declaring the value can trigger average at claims stage, reducing the settlement in proportion to the shortfall.
It depends on the contract. Many hire agreements pass responsibility for loss or damage to the hirer while the equipment is in their possession, which can leave a mine carrying risk on machines it does not own. We read the hire and contracting terms alongside the policy so that responsibility and cover line up rather than leaving a gap between them.
