Rental Equipment Protection

RENTAL EQUIPMENT PROTECTION (REP)

REP is an all-risk policy that helps protect you from paying for accidental damage on rental equipment. This all-risk policy means that unless the cause of damage is specifically excluded, the damage will be covered.

The only exclusions we have are either because insurance never covers the damage or should be covered under another policy (e.g. In transit damages should be an auto policy.)

Common Covered Perils:

(includes but is not limited to)

• Accidental damage
• Collision
• Earthquakes
• Falling Objects
• Fire
• Flood
• Hail
• Overturns
• Theft
• Vandalism
• Wind
• Other non-excluded perils

Please see your GP Rental representative for a list of specific exclusions.

Benefits:

• Policy protection: Claims will not affect the premium(s) on your business policy.
• Hassle-free claims: We manage the claims process, so you don’t have to.
• Simple rental process: No need to contact your insurance company asking for updates to your certificate of insurance.
• Peace of mind: Get the confidence that comes with all-risk protection.

Cost:

REP is 17% of the rental rate. E.g. (rental charge ex: $300) x (insert percentage ex: 0.17 if you charge 17%) = (REP charge ex: $51)

Total cost to customer: (insert total charge to customer ex: $351) + tax

How to get REP:

Ask your GP Rental representative to add REP to your rental. Protection is applied immediately.

Deductible Information:

The REP deductible is applied per machine rented. In the event of loss or damage* to the rented machine(s), you responsible to pay the deductible towards repair or replacement costs and the coverage pays the rest. REP will cover up to $500,000 per machine.

$1,000 deductible for machines valued up to $25,000

$2,500 deductible for machines valued over $25,000

* If damage occurs contact JT Bates Group as soon as possible. Not reporting damage in a prompt manner could invalidate the REP agreement.

Coverage powered by JT Bates Group.