How Much Does Equipment Rental Insurance Cost?.Get a fast quote and your certificate of insurance now.īelow are some answers to commonly asked equipment rental insurance questions: What kind of coverage do you need? Read on to find out more about equipment rental insurance:Įquipment rental insurance protects your business from lawsuits with rates as low as $37/mo. How can you protect your equipment, your business, and yourself? - By investing in the right type of commercial insurance. If this happens, you may be held responsible and held liable for the ensuing damages, including any medical costs and any costs for property loss.Įquipment rental insurance can mitigate your losses and help your business maintain its growth despite any claims and lawsuits that might arise. You may rent a piece of equipment to someone who subsequently becomes injured by the equipment. When you own a business that rents out equipment, the perils you face are very real. Unless a lease specifies differently, the rental company is responsible for maintenance and major repairs. Payments may be made at the time of rental for items needed for a short period of time, or periodically over the life of a lease. Delivery and pickup services may be offered. Equipment may be rented with an operator or without.Įquipment may be rented on a short-term basis, or on a longer-term lease. Not only do you need to make sure that your gear is protected, but you also have to think about the liability risks that are associated renting out equipment.Ĭontractor equipment rental companies provide heavy equipment to customers who do not need these frequently enough to justify the purchase, such as bulldozers, excavators or cranes. Do you own a company that rents out equipment? Whether it's heavy machinery, gardening tools, party supplies, or audio-visual equipment, you've invested a lot in the equipment you rent out. Equipment Rental Insurance Policy InformationĮquipment Rental Insurance.
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