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Contractor-to-Contractor Rental Insurance Overview

08/29/2018

We heard this concern from every contractor we interviewed as we researched equipment rentals. Their insurance policies would not provide coverage for equipment when it was rented out on their own to another contractor. Nor did they take steps to ensure the renter provided proper coverage on the unit while in their care, custody and control. Lacking coverage and a well-defined agreement, even a small mishap can lead to significant out-of-pocket expenses for the owner and/or renter, not to mention the time-consuming hassle just getting through the ordeal and back to focusing on business.

Working through Never Idle protects asset providers from all that expense, worry and distraction.

We take the time to make sure all rented equipment is fully insured before it goes out rent. We require the renter to provide a Certificate of Insurance that covers the rented unit. If the renter’s insurance does not meet the minimum requirements, we work with their insurance provider to get the right coverage. Alternatively, they can purchase a Rental Protection Plan directly from Never Idle that covers the unit while it’s out on rent.

Never Idle also automatically places our customized SafeGuard Assurance Plan® on every unit that goes out on rent, from the moment the unit leaves its owner’s yard to the moment it returns, at no cost to the owner. The SafeGuard Assurance Plan is comprehensive coverage acting as a second layer of protection in addition to the coverage already required of the renter. It provides for full replacement in the event a unit 5 years old or newer is stolen or destroyed. It also covers the cost of providing the asset provider with a rental unit if the unit is damaged and will undergo repair for an approved insurance claim.

Safeguard insurance logo

With Never Idle, you get peace of mind that lets you focus on your job. Let us handle all the rest.

Click here to learn more or contact a Never Idle agent for detail copies of the plan.

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