Almost every homeowner will rent a tool or a peice of equipment from the local hardware store at one time or another. But does your home owner policy cover the rented tool?
Most homeowners policies will provide some limited coverage for rented tools. Usually the limit is $500.
When you go to pick up the tool the hardware store will have you sign a contract that you are responsible for any damages. Be aware that you will only have a very limited amount of coverage, if any, for damages. Most likely you should expect to pay for the damage out of your pocket.
Always check with your insurance agent when renting expensive equipment.