Renting equipment for your business can be cost-effective, but you need to understand your insurance obligations to avoid unexpected costs.
Rental Agreement Requirements
Most rental companies require you to carry insurance on rented equipment, and their offered coverage is often expensive with limited protection.
Your Options
- Your existing equipment policy — May extend to rented equipment
- Rental company insurance — Convenient but usually overpriced
- Inland marine policy — Specifically designed for equipment in transit or temporary locations
Key Considerations
Review your rental agreement carefully. Understand what you're liable for, including damage, theft, and loss of use charges. Your BlackArrow agent can help you find the most cost-effective coverage for rented equipment.
