• Thank you for visiting HeavyEquipmentForums.com! Our objective is to provide industry professionals a place to gather to exchange questions, answers and ideas. We welcome you to register using the "Register" icon at the top of the page. We'd appreciate any help you can offer in spreading the word of our new site. The more members that join, the bigger resource for all to enjoy. Thank you!

Renting out my dozer

RyanL

Well-Known Member
Joined
Oct 16, 2008
Messages
99
Location
New Concord,Ohio
Occupation
owner of Leasure's AG Repair,LLC
Hi, just wandering if any of you rent out your equipment? and what insurance stuff you have in place? I am wanting too rent out a d5g lgp machine and would like to get into few other machines if this works. thanks
 

CM1995

Administrator
Joined
Jan 21, 2007
Messages
13,248
Location
Alabama
Occupation
Running what I brung and taking what I win
My suggestion is don't do it. Not worth it - the risks outweigh the rewards.
 

KSSS

Senior Member
Joined
Feb 27, 2005
Messages
4,319
Location
Idaho
Occupation
excavation
You make the renters pay for the insurance! They put a rider on the machine on their insurance and send you the proof of coverage with a signed form from their insurance agency.


Yep that how that works have them list you as additionally insured. You may want blanket coverage yourself as well, but let the renter pickup the bulk of it. My insurance policy has this built into it for when I need to rent equipment.
 

Welder Dave

Senior Member
Joined
Oct 11, 2014
Messages
12,257
Location
Canada
$1500 a week sounds too cheap for a D5. I think a skid steer might be closer to $1500/wk. Most places require contractors insurance before you can rent and the renter is responsible for maintenance, greasing, checking fluid levels etc. and any repairs required due their negligence. You need to have a good contract and a lot of places also require a deposit to cover damage or cleaning fee's when the unit is returned. I could see it being a hassle depending on how you're set up and who is renting it. It got stuck in the mud and we're not paying rent until it's out, etc.
 

05f150fx4

Member
Joined
Jan 7, 2010
Messages
15
Location
Earth
I am curious on this as well. Having the machine itself covered is one thing but what if someone is injured or worse with the machine while it is out on rental? How does that work?
 

Jonas302

Senior Member
Joined
Jan 4, 2015
Messages
1,197
Location
mn
A D5K rents for $2200 a week from cat $1500 is right in the ballpark of what we pay for an older dozer from the local rental
Contractor adds to liability policy same as any other piece of equipment Owner would also have insurance to cover fire theft ect on top of what the contractor has
There are risks and what iffs in every business of course it helps if you dont rent to weekenders personally we have never treated a rental machine poorly in any way word gets around fast if you go destroying equipment
 
Top