Planning Ahead: What To Consider Before Renting Construction Equipment

In many cases, construction companies benefit from a mix of equipment purchases and rentals. This combination offers companies financial flexibility as well as tax benefits. However, not all rental agreements are created equal. It is important to find a provider that can keep up with your company’s nimble nature and flexible needs.

Budget

When you’re planning your budget, it’s important to consider a variety of factors. Generally speaking, it’s a good idea to buy if you intend on using the equipment frequently for a long period of time. On the other hand, renting may be a better option for one-off projects or short-term jobs. And in addition to the cost of equipment, you need to include fuel and delivery fees, taxes and maintenance costs. When it comes to construction equipment, these expenses can quickly add up. Luckily, rental companies offer a flexible solution that can keep your business running smoothly.

Safety

Before renting construction equipment, it’s important to take several safety measures. These include ensuring that the equipment has been inspected and maintained, and that the rental company provides adequate training on how to use it safely. The right training will help your team operate the equipment correctly and avoid equipment breakdowns or injuries. In addition, it will help ensure your employees are aware of the hazards that the equipment can present on a job site.

Insurance

If your business rents heavy equipment, like bulldozers, dump trucks and backhoes, you may need a special insurance policy. It can protect you from damage to the machines and lawsuits related to their use. Depending on your state, it could also help you recover costs in the event that a customer fails to return rented equipment. You can find this type of coverage from companies like Allied Insurance and The Hartford. The latter has a network of independent brokers who can connect you with top-rated insurers. They offer general liability, property insurance and workers compensation policies as well as specialty solutions.

Requirements

When you run a construction company, you’ll need heavy equipment to complete projects. However, purchasing construction equipment can be a big expense. Instead, renting construction equipment is a smart option for many companies. It’s often much cheaper and more flexible than buying, and it can save you money in the long run by avoiding costly maintenance and fuel costs. Moreover, renting construction equipment can help you test out new models before making a purchase decision. This can be a great way to determine which equipment is best for your business and its needs. You should also consider the company’s delivery and pick up timelines, as this can have an impact on how quickly you can get your equipment. If you’re unsure about the logistics of it all, feel free to come visit us here at East County Rentals, Inc. for more information before signing a contract. You’ll be glad you did!