Your question RE who pays the insurance - the renter will pay for it in either case, directly or by having the cost passed to them from the lender. I'd suggest

Your question RE who pays the insurance - the renter will pay for it in either case, directly or by having the cost passed to them from the lender. I'd suggest that the lender should decide if he wants insurance or not, and it should be added as a line item on the renters bill. The lender will understand that by adding this cost he is less competitive, so you'll find that only the market for really expensive equipment supports insurance. It is totally worth your time to implement this because the insurer (or panel of insurers) you work with will offer you a referral fee. I'd enter talks with them directly. You may find a local insurance company (not reseller) easier to work with, as a major one probably won't want to talk to you. They might want a procedure where the equipment is photographed by the lender each time before it is handed to the borrower.