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From Vision to Reality: Helping to Launch an Equipment Rental Business

Published June 18, 2024 

In May 2023, a group of brothers embarked on a journey to start a new equipment rental business. Needing a premium indication for their business plan, they reached out to Kristen Sanders, our experienced small business insurance producer, based on a recommendation from one of their acquaintances who banks at FCB. Recognizing the importance of their new venture, Kristen leveraged her experience with similar businesses to craft a tailored insurance solution.

After understanding their business model and insurance needs, Kristen identified that a general liability policy from non-standard markets would be the best fit. She prepared submissions to various carriers. However, one carrier could only offer Inland Marine coverage, not the Auto, due to the equipment delivery aspect of their business. To address this, Kristen secured consideration from another carrier for both Inland Marine and Commercial Auto coverage, while also obtaining a competitive general liability quote from a third source.

Initially, the brothers anticipated launching the business by August 2023. However, the timeline extended, and by April 2024, they were closer to executing their business plan. Given the time lapse, Kristen diligently updated the quotes and amended the equipment list to reflect current needs. Throughout April and May 2024, she maintained regular communication with them, making necessary revisions to the proposals.

On June 3, 2024, the coverage was successfully bound, marking a significant milestone for the new equipment rental business. The brothers expressed their gratitude for Kristen's unwavering support and dedication throughout the process, which was crucial in securing the insurance needed to get their business off the ground.

Kristen’s commitment and expertise helped turn their vision into reality, providing the equipment rental business with the comprehensive coverage required to start their operations confidently. This success story highlights the importance of personalized service and perseverance in navigating the complexities of business insurance.