Homeowner bucket truck insurance question

[Mrjimbov]

I'm a homeowner that purchased a 2005 International 7400 (55ft) bucket truck to trim some trees on my property. My plan was to trim my trees and then sell the truck.
Well, long story short, after word got around that I have this truck, I've had about 20 people ask about renting my truck to trim their trees or hiring me to trim their trees.
My question's are: Would I be better off to insure it so I can rent it to people and it is covered if someone damages it by dropping a limb on it?
Or, put basic insurance on it and do the tree trimming myself? Which I assume I would also need some sort of liability insurance in case I damage someone's property.
And, what can I expect to pay to insure it?

 

[CentaurG2]

A bucket truck is just like a wooden ladder. A big honking liability. Around here, trucks need to get inspected yearly for boom safety before you can get insurance. I would NEVER loan a bucket truck out. Not sure what boom you have but 2005 was a long time ago. If you do want to go into business trimming trees on the side, get it inspected. Cost for insurance would depend on your state, class 1or 2 vehicle etc.

 

[sonny580]

First up----check what you would need for doing tree work!-- Everybody around here has to be certified tree people. Your area may be different, but check.
As for insurance, you would need FULL business coverage! ( VERY expensive , I might add). IF you let anyone else in the bucket and something goes bad,----YOU are responsible without a doubt! --Faulty equipment, obsolete equipment,---and the list goes on and on! I am explaining this from what a lawyer and jury would see as arguements for the other side.
In your defence,---being a good neighbor wont clear you of charges!
I have an 84 F-700 with a 70 foot Hi-Ranger and have turned down countless offers to do tree and misc. work with it !---AND it aint gonna happen!!!! --- Be safe out there!

 

[user 159780]

I have this same situation but with a diesel chipper. Those who asked to borrow the machine receive a NO. Rental companies have liability insurance for their equipment, I do not.
But I have chipped trees on their property for $xx/hr with the condition that they do not operate the chipper or feed material into it. I'm with the chipper 100% of the time, while it's onsite.

 

[lone wolf]

I have this same situation but with a diesel chipper. Those who asked to borrow the machine receive a NO. Rental companies have liability insurance for their equipment, I do not.
But I have chipped trees on their property for $xx/hr with the condition that they do not operate the chipper or feed material into it. I'm with the chipper 100% of the time, while it's onsite.

If renting out anything of great value the owner should be present otherwise you are at risk of the machinery or truck being damaged.