Industry Code: 89910
Employers in this industry typically derive their livelihood from rentals to the oil and construction industries. While they may also rent to the homeowner and small contractor, a majority of their business is done with repeat account customers who require contractors equipment, often on an extended basis and several pieces of equipment may be required at one time.
Operation Details:
Equipment rental is of a heavy duty nature and includes industrial power tools, tampers, concrete saws, floor grinders, sprayers, compactors, scaffolding, generators, power plants (up to 50 KW), welders, portable heaters, industrial fans, floaters, portable compressors, pumps (up to 6 inches), vibrators, post-drivers, lawn and garden equipment and various other tools and equipment used in the construction industry.
Oilfield rental firms rent equipment such as down hole tools, tanks, separators, dehydrators, line heaters, and treaters. Employers renting this type of equipment may also deliver but do not operate equipment.
Servicing by employers in this industry can be extensive and can include rebuilding of engines, etc. Often several mechanics are employed to service and repair motors, compressors and electrical equipment. Servicing of oilfield rental equipment can include tear down, cleanup, replacement of worn or damaged parts and testing.
Underwriting Considerations:
This industry is for employers primarily in the rental business and rentals do not include operators. Employers in this industry may rent some mobile equipment such as bobcats and forklifts, however this is not the focus of their business. Rental of mobile equipment is classified in industry 62201.
Repair operations in this industry can be extensive and will include some machining and welding for rebuilding of parts and may include limited manufacturing of rental items. Companies which are manufacturing on an ongoing basis are classified in the appropriate manufacturing industry.
Companies geared primarily to the sale of equipment would be classified in the appropriate sales industry, possibly 62303.
Premium Rate History:
Activities:
Bridge, portable - rent/maintain
Industrial and Oilfield Equipment Rentals
Oilfield and Industrial Equipment Rentals
Rental of Industrial and Oilfield Equipment
Rate Group History:
There have been no changes to this rate group since major restructuring began in 1990.
Employers in this industry typically derive their livelihood from rentals to the oil and construction industries. While they may also rent to the homeowner and small contractor, a majority of their business is done with repeat account customers who require contractors equipment, often on an extended basis and several pieces of equipment may be required at one time.
Premium Rate History:
Activities:
Bridge, portable - rent/maintain
Industrial and Oilfield Equipment Rentals
Oilfield and Industrial Equipment Rentals
Rental of Industrial and Oilfield Equipment
Operation Details:
Equipment rental is of a heavy duty nature and includes industrial power tools, tampers, concrete saws, floor grinders, sprayers, compactors, scaffolding, generators, power plants (up to 50 KW), welders, portable heaters, industrial fans, floaters, portable compressors, pumps (up to 6 inches), vibrators, post-drivers, lawn and garden equipment and various other tools and equipment used in the construction industry.
Oilfield rental firms rent equipment such as down hole tools, tanks, separators, dehydrators, line heaters, and treaters. Employers renting this type of equipment may also deliver but do not operate equipment.
Servicing by employers in this industry can be extensive and can include rebuilding of engines, etc. Often several mechanics are employed to service and repair motors, compressors and electrical equipment. Servicing of oilfield rental equipment can include tear down, cleanup, replacement of worn or damaged parts and testing.
Underwriting Considerations:
This industry is for employers primarily in the rental business and rentals do not include operators. Employers in this industry may rent some mobile equipment such as bobcats and forklifts, however this is not the focus of their business. Rental of mobile equipment is classified in industry 62201.
Repair operations in this industry can be extensive and will include some machining and welding for rebuilding of parts and may include limited manufacturing of rental items. Companies which are manufacturing on an ongoing basis are classified in the appropriate manufacturing industry.
Companies geared primarily to the sale of equipment would be classified in the appropriate sales industry, possibly 62303.
Rate Group History:
There have been no changes to this rate group since major restructuring began in 1990.