July 9, 2015
Renters of construction equipment usually don’t read the fine print in rental contracts. They just hope any damage to the equipment is covered by their insurance. Only after the damage happens, and the owner demands payment for repairs and loss of use, is the fine print finally read.
Too often the rental contract fine print and the insurance policy fine print do not match up. The equipment owner and renter want the insurer to make things right, but the claims handler denies the claim because he/she contends the loss is excluded under the policy.
Frequently, the “no coverage” decision is changed after suit because either there really is coverage or the cost of defending the case will exceed the cost of simply settling the damage claim and protecting the insured.
The bottom line, don’t be afraid to sue to make insurers do the right thing.
The above article was written by Mr. Dennis and originally appeared in the Alaska Journal of Commerce.
Here are some tips for the next time you rent a piece of equipment:
- Take your time and read the contract.
- Know what you are covered for and ask questions.
- See if you can borrow from a friend first.
- Be sure to get clear instructions on how to operate the equipment.
Being as prepared as possible for the contract you enter, and the equipment you are using is you best line of defense. We all know accidents happen and being prepared for any occurrence is vitally important.
If you find yourself in need of help with equipment contracts, insurance claims or litigation, we can provide the expert counsel to help you out!