If your business or company utilizes equipment like forklifts, then it may be ideal to purchase insurance when renting one of these heavy pieces of machinery. It will cover your employees and the rental property in case of an accident. Insurance covers injuries and damage to the machine, operator, and property.
It is a responsible decision to make, especially when renting or owning heavy machinery that proves to be dangerous. When you rent a forklift from , you are getting wonderful service, great machinery; protect it from damage by obtaining insurance.
Is forklift insurance really needed?
In most states, this type insurance is not mandatory like typical auto insurance. Even though it is not required, though, it does not mean you should not have it. It will cover damage and injuries endured involving the machinery. Forklift operators are well trained in their field; however, this does not mean that accidents do not happen. Aspects of a job including a forklift like turning radius, reach, and weight may be off and cause an accident.
What about general liability insurance?
Your general liability for the company may not be sufficient. Speak with your insurance agency to get the details. The general insurance covers accidents and damage; however, it may not cover the rental equipment. It is important to get the information and not assume when you are renting.
Is forklift insurance able to be added to the existing insurance?
Forklift drivers and the equipment are able to be added to your current insurance policy. If they are not, the general insurance only covers damages that result from an accident. Once you have added the drivers and equipment to your policy, it will cover injuries and damage to your drivers and the machinery.
Is separate forklift insurance obtainable?
While most states do not require separate insurance if you rent a forklift, it definitely would be in the best interest of your company to obtain separate insurance for the rental machine. This will give you and the operator peace of mind. If there should be an accident in which the machine is damaged, the insurance will cover the costs. In many cases, the insurance is lower than the cost of the part or machine itself.
Just like auto insurance, most insurance companies that provide separate forklift insurance will give a group rate. If you are renting more than one forklift, there should be a discount. If you are only renting one forklift, then purchasing separate forklift insurance with the company that you have a general policy with may also result in a discount. Speak with your insurance representative for further details. Even though your forklift operators are trained, there may be an accident; it is smart to obtain the insurance to cover all bases. You should purchase rental forklift insurance to keep you and your company safe.
Purchasing a forklift can be a very costly expense for your business or company. Renting is a good idea when there is not daily equipment use or when you do not want to be held responsible for the repairs and maintenance. Rental forklifts for 3000, 4000, and 5000 pounds are approximately $400 per week. When renting the forklift, add in the insurance for peace of mind and protection for the machine, your business, and your operators. The perfect price usually comes from site
