Insurance Requirements

Rental Equipment Insurance Requirements

General Liability Insurance Requirements

Every customer renting equipment must provide General Liability Insurance.
General Liability coverage must be provided protecting both Ring Power Corporation and the customer in the event that persons or property are injured or damaged as the result of an accident.

Minimum Requirements:

  1. $1,000,000 each Occurrence General Liability including Contractual Liability.
  2. Ring Power Corporation named as additional insured on the General Liability Policy.

Equipment may not leave Ring Power property without a General Liability Policy form on file.

The General Liability Insurance requirements do not cover the equipment and is separate and exclusive from any Machine Coverage/F.T.V. issues.

Physical Damage Coverage Requirements

In order to avoid Fire, Theft and Vandalism charges on rental equipment we must have an insurance policy on file that meets our standard General Liability requirements above and All Risk Physical Damage Coverage must be provided which will pay for loss or damage to the rented/leased equipment.

*Crane & Over the Road Vehicles have additional coverage requirements

Minimum Requirements:

  1. General Liability requirements above.
  2. Ring Power Corporation named as Loss Payee as respects to the rented/leased equipment.
  3. Blanket Policies must have coverage greater than the total value of rented/leased equipment.
  4. If machine specific the certificate must reference the model, serial number and the full replacement value of the rented/leased equipment.

General Requirements:

  1. Certificate must name the actual insurance company providing the coverage. Policies
    underwritten by Lloyds of London and their group members are not acceptable.
  2. The actual policy numbers must be provided. No "binder" language is acceptable.
  3. 60-day notice of cancellation required.

Equipment may not leave our yard without General Liability Policy on hand.





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