Equipment & finance coverage
Machine, equipment & finance compliance cover
Your machines are the asset the business runs on. Cover them against theft, vandalism, fire and accidental damage, and satisfy the insurance clause in your finance agreement.
Machines are stolen, tipped and torched
A single combination machine can represent $4,000 to $15,000 of capital, and a fully stocked drink machine holds hundreds of dollars of product on top. Ram raids on unattended sites, forced coin mechanisms, graffiti and after-hours vandalism are the common losses operators report — and none of them are covered by public liability.
What can be insured
- Theft of an entire machine or forced entry damage to the cabinet, lock and coin mechanism.
- Vandalism and malicious damage, including graffiti and smashed glass fronts.
- Fire, storm, water damage and other insured events at the placement location.
- Accidental damage while in transit between sites or during installation.
- Refrigeration breakdown and resulting stock spoilage for chilled and frozen units.
- Cash in the machine and in transit, up to the policy sub-limit.
Meeting your financier's requirements
Vending machines are frequently bought on chattel mortgage, lease or rent-to-own terms. Almost every one of those agreements requires the machines to be insured for their full replacement value, with the financier noted as an interested party, before funds are released.
Tell us in the quote form that your machines are financed and the certificate can be issued with the financier's interest noted — that's usually all the lender needs to complete drawdown.
How much cover should you take?
Insure for replacement value, not what you paid. List each machine type and its current replacement cost, add typical stock levels, and include the cost of freight and re-installation. Underinsuring is the most common reason operators get a smaller settlement than expected.
Most operators pair this with public liability in a single business insurance package.