Do homeowners and businesses need insurance when renting a generator?
Generators that are rented are usually insured, but how they're insured can vary from situation to situation. Some rental companies purchase insurance themselves, and then build the cost of insurance into their standard rental rates.
Other rental companies have the homeowners and businesses that they serve procure insurance for the duration of the rental. The insurance might be bought through the rental company, or through another company for a longer rental period.
Any homeowners or businesses that are renting a generator may want to consult an insurance agent who specializes in generator policies. An agent might be able to obtain better generator coverage, for less than what a rental company would charge if the insurance is purchased through them.
How much does insuring a generator cost?
The cost of insuring a generator primarily depends on the generator's value, and also on its size, type and use. More expensive generators will typically cost more to insure. So do generators that are more prone to damage because of how or where they're used.
The easiest way to find out how much insuring a generator will cost is by getting a custom quote for the generator. This shows exactly how much will be given a particular generator's value, type, size and other factors.