𝐂𝐨𝐧𝐭𝐫𝐚𝐜𝐭𝐨𝐫𝐬: 𝐀𝐫𝐞 𝐘𝐨𝐮 𝐨𝐧 𝐭𝐡𝐞 𝐇𝐨𝐨𝐤 𝐟𝐨𝐫 𝐄𝐪𝐮𝐢𝐩𝐦𝐞𝐧𝐭 𝐑𝐞𝐧𝐭𝐚𝐥 𝐏𝐚𝐲𝐦𝐞𝐧𝐭𝐬—𝐄𝐯𝐞𝐧 𝐈𝐟 𝐈𝐭’𝐬 𝐃𝐚𝐦𝐚𝐠𝐞𝐝?

𝐂𝐨𝐧𝐭𝐫𝐚𝐜𝐭𝐨𝐫𝐬: 𝐀𝐫𝐞 𝐘𝐨𝐮 𝐨𝐧 𝐭𝐡𝐞 𝐇𝐨𝐨𝐤 𝐟𝐨𝐫 𝐄𝐪𝐮𝐢𝐩𝐦𝐞𝐧𝐭 𝐑𝐞𝐧𝐭𝐚𝐥 𝐏𝐚𝐲𝐦𝐞𝐧𝐭𝐬—𝐄𝐯𝐞𝐧 𝐈𝐟 𝐈𝐭’𝐬 𝐃𝐚𝐦𝐚𝐠𝐞𝐝?

If you lease large equipment—excavators, drills, cranes—you probably have coverage for damage or theft under your inland marine policy. But here’s the part many contractors overlook: 𝐲𝐨𝐮𝐫 𝐥𝐞𝐚𝐬𝐞 𝐚𝐠𝐫𝐞𝐞𝐦𝐞𝐧𝐭 𝐦𝐚𝐲 𝐫𝐞𝐪𝐮𝐢𝐫𝐞 𝐲𝐨𝐮 𝐭𝐨 𝐜𝐨𝐧𝐭𝐢𝐧𝐮𝐞 𝐩𝐚𝐲𝐢𝐧𝐠 𝐫𝐞𝐧𝐭 𝐨𝐧 𝐭𝐡𝐚𝐭 𝐞𝐪𝐮𝐢𝐩𝐦𝐞𝐧𝐭 𝐞𝐯𝐞𝐧 𝐰𝐡𝐢𝐥𝐞 𝐢𝐭’𝐬 𝐛𝐞𝐢𝐧𝐠 𝐫𝐞𝐩𝐚𝐢𝐫𝐞𝐝 𝐨𝐫 𝐫𝐞𝐩𝐥𝐚𝐜𝐞𝐝.

Most policies include some coverage for this, but when you're renting high-value machinery, the standard limits may not come close to covering your actual costs. That could leave you paying thousands (or more) out of pocket.

Before you sign that lease, take a close look at the fine print. Then, talk to your agent to make sure you have the right coverage in place—because downtime shouldn’t mean a financial setback.

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