Home Depot/Lowes Rental Insurance Question

[JLeezer]

I'm trying to figure out about the legalities surrounding Home Depot, Lowes, Sunbelt Rentals' rental insurance. I know there are quite a few restrictions and regulations on offering insurance products (health, life, pet, homeowners, etc), but I'm unsure of whether these retailers are required to meet certain criteria before being able to offer insurance when you rent a tool from them. I'm thinking it is not regulated, as they are insuring their own items for replacement or repair purposes.

Anyone have any ideas on this?

[JLeezer]

I guess to better explain my question: Do the tool rental companies actually provide the insurance or do you think (or preferably know) they have a 3rd party insurance underwriter that carries the risk?

[JLeezer]

I think I may have found a workaround to the whole insurance issue. Any thoughts on this:

We offer a guarantee to repair or replace an item if it becomes broken during normal use. This guarantee is simply part of the rental agreement that is signed and the fee is included with the rental fee. Not really insurance, we're just guaranteeing to provide working equipment.

[bobbyjay53]

I'm trying to figure out about the legalities surrounding Home Depot, Lowes, Sunbelt Rentals' rental insurance. I know there are quite a few restrictions and regulations on offering insurance products (health, life, pet, homeowners, etc), but I'm unsure of whether these retailers are required to meet certain criteria before being able to offer insurance when you rent a tool from them. I'm thinking it is not regulated, as they are insuring their own items for replacement or repair purposes.

Anyone have any ideas on this?

Is this based in the US or in another country?