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im pretty sure that since you are renting the equipment that it is your responsibility for whatever happens to them
if you're that worried that something may happen ,and you want a fullproof plan to not be responsible...make her rent it under her name
though if it's too late for that...i guess you could just make up a quick written contract saying that she understands that if there is any damage done to that she be held responsible for covering the costs, etc.
and make sure to date it
now i doubt the place you rented it from will care that 'she signed a contract claiming responsibility'...they'll just want their money, they don't care who its from or who they fuck over (been in this situation before, it sucks)
however if you have the contract with her signature on it, and a winess' signature (just in case, hell get a couple witness', including people who are close to her so if she says that you made up the contract then her best friends signature is on there...dun dun duuun), im sure you could take her to court...though this is just me assuming
i suggest you just knock on wood and hope nothing goes wrong 
why don't you assign people to watch over each piece of equipment like on seinfeld? 
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