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What Woody said - make sure you only rent to professional companies and make sure your T&Cs say that if any damage occurs the company renting from you is liable to pay the full replacement cost.
Or you could find a local rental company and see if they're interested in renting it out on your behalf - that way you could arrange it so it's all done under their insurance and you get a decent slab every time they rent it out to someone. Not gonna make much like that though.
Rental's something that, as people have said, isn't really worth doing on a small scale like that. If you've got some capital to invest and you're serious about it you might consider getting some more gear together and doing it properly (renting out whole rigs), but I get the feeling that's not the case from what you're saying.
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Stu Cox | 

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