Many small companies will have the question come up in their planning; "Should I get insurance?" While this can be daunting, there are many considerations you should bring into consideration!
Outside the scope of residential rentals, there are many cases where you may rent our your inventory at theme parks, events, and other recreational centers. Having proper insurance is a must for these opportunities. Having exposure at these larger events will likely bring more business down the road.
Having insurance is a safety net should things go wrong. It can protect you against liability as well as provide help with replacing/repairing damaged rental equipment. This can be extremely costly in both regards.
Not having proper insurance will eliminate many potential customers from your business. Not having insurance will also be a deterring factor to new customers, should they inquire.
Should any accidents occur, you are constantly at risk of losing your rental equipment due to damage, or losing your business due to lawsuits.
The Friedman Group
Disclaimer: Hero Kiddo does not endorse nor sponsor any of these insurance companies. They are strictly listed as an informational reference.