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Rental Equipment Protection Damage Waiver

All Risk Coverage With You In Mind.

Customers who cannot show proof of insurance or non-account cash customer.
Customers who want to protect their business/personal policy.
If damage occurs on a business or other personal policy, the client could experience rate increases. If REP is used in place of their own policy, they will not risk any rate increases.

Customers Must Provide Proof of Insurance to Decline REP.

Proof of insurance consists of:

Certificate of property insurance showing specific or blanket rented equipment coverage.
Certificate of insurance must be faxed, photocopied, or emailed before the rental contract is closed out.
If proof of insurance is not provided prior to the rental contract closing, REP charges will be applied.

PHYSICAL DAMAGE COVERAGE ON RENTED EQUIPMENT INCLUDES BUT IS NOT LIMITED TO:

REP IS NOT LIABILITY INSURANCE

The customer is still responsible for liability coverage through their corporate policy or homeowners' policy. No carrier will cover the liability for a third party.
Liability coverage for the cash customer should be covered by their personal/homeowners' policy.
Account customers should be covered for liability by their general liability policy.

REP does not cover:

Civil Authority
Contamination/Deterioration
Dishonest or Illegal Activity
Failure to Maintain Equipment
False Pretense (If a customer come in to rent the equipment and has no intention of returning the equipment.)
Fire-Close Proximity to Open Flame
Loss of Use
Mechanical Breakdown
Mysterious Disappearance (A customer losing a piece of equipment but is not willing to submit a police repot; this is not theft. Theft is a covered peril)
Nuclear Hazard
Pollutants
Temperature/Humidity
Underground Operation
War and Military Action
Wear and Tear

THE COST OF REP IS 14% OF THE RENTAL CHARGES

FORMULA:

$300 (daily rental charge) x 0.14 = $42 (REP charge)
Total cost to client: $342 + tax

DEDUCTIBLE INFORMATION:

If the equipment is valued under $25,000 the deductible is $1,000.
If the equipment is valued over $25,000 the deductible is $2,500.
If the equipment is valued over $500,000, the deductible is $10,000.
REP does not exempt the client from payment of damages. Rather, it limits their exposure to risk.
The deductible applies to both damages and repairs, as well as total loss of the unit. (Up to $1,000,000 of coverage per rented item)
In relation to damages and repairs, the lesser of the actual repair cost or the deductible would be charged. (e.g. If $10,000 of damage occurs on a $50,000 mini excavator, the customer's responsibility is the deductible cost of $2,500 which is less than the charges of the actual damage.)

Machines used in land clearing (increased risk of damages from fire due to debris)
Machines that are used near water, cliffs, or other natural environmental danger (increased risk of overturn, falling objects, water damage etc.)
Pumps (oversized objects can be inhaled)
When small equipment is used with mobile equipment (drive over risk)