What Equipment Rental Insurance Coverages Do I Need?
Considering the huge cash value of the average Equipment Rental Business’ fleet, a Commercial Insurance Package is very important to carry.
Much like a homeowner’s policy helps protect the home and assets of the owner of a house, a Business Owners Policy helps insure a business owner’s buildings, property, and business assets.
An Equipment Rental Business Package usually packages three basic coverages:
Commercial Property Insurance
Commercial Property Insurance helps cover the cost of replacing an Equipment Rental Business’ property, office, and equipment.
General Liability Insurance
General Liability insurance is important for any type of small business, especially Equipment Rental businesses. This insurance is designed to protect a business against financial damages from lawsuits.
Equipment Rental Business Income Insurance
When this coverage is added to a Commerical Property Policy, it can protect against loss of income during an interruption of business operations. It can also help with the costs of relocating and operating out of a temporary location during the recovery phase.
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