Hello John, you’ve raised a very pertinent concern about your construction machinery rental business. Indeed, insurance plays a crucial role in protecting businesses like ours from unexpected incidents.
Your understanding is spot on. Equipment insurance is indeed indispensable as it shields your business from financial losses due to damage or loss of machinery during rentals. Furthermore, liability insurance is your safeguard against claims if the rented equipment leads to property damage or injury.
Business interruption insurance also plays a vital role by compensating for lost income during unforeseen halts in operations.
I completely agree with your belief. Having the right insurance indeed serves as a safety net, enabling us to focus on our business operations without being constantly worried about potential risks. It’s all about taking preventive measures and planning ahead to ensure the sustainability of our business.
Not enough for your question? Check this below video
You may have interests in below posts