Brought to you by Westland Insurance
Three things to think about when choosing an insurance provider
April 17, 2023 in Features
By Westland Insurance
Renewing your equipment or event rental insurance? Here are three things to consider:
- Is your provider an expert in insuring business with rental equipment?
Insuring businesses who rent equipment is complex, so it’s important to work with an industry expert who can simplify the process and ensure you’re fully covered. Coverages can vary depending on your area, so be sure to ask if your provider works with other rental businesses or have experience insuring them in your country of business.
- How comprehensive is the coverage?
When reviewing your coverage, look beyond just insuring your inventory. For example, businesses of all sizes can be affected by cyber-attacks, even if you’ve prioritized cybersecurity. So having this coverage is beneficial. Alternatively, ensure your policy has a strong conversion wording to provide protection for your business if your equipment is stolen. This is why working with an expert in rental business insurance, like Westland, is key so your company has a comprehensive policy to holistically protect your unique business needs.
Westland offers comprehensive commercial insurance packages that include liability, property (building, stock, and equipment), contractors’ equipment that is rented or sold and cyber insurance.
- How does it affect your bottom line?
At the end of the day, your goal as a rental operation is to make a profit. If your insurance provider can offer you the quality support you need for less, it’s always worth considering. I told myself, ‘It can’t hurt to get a quote,’” says Marc-Andre Burelle, owner, Burelle Rentools, Limoges, Ont. “The process was really smooth: a quick 15-minute call, they asked a few questions, and I received my quote a couple of days after.” Burelle signed with Westland and is already seeing the benefits. “I was amazed that I had better coverage for less money. I’m saving approximately $400 a month. I’m very satisfied with Westland; they are very knowledgeable people, and I would recommend them to all rental businesses,” he says.