Almost every rental contract offers a damage waiver, sometimes called a rental protection plan. It is easy to tick the box without knowing what you bought.
What It Is
The waiver is the rental company agreeing to give up (waive) some of its right to charge you for accidental damage. It is not an insurance policy and does not cover injuries or damage you do to other property.
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Common Exclusions
- Theft or loss without a police report
- Damage from misuse, overloading or unqualified operators
- Tires, tracks, glass and attachments (on some contracts)
- Damage while being towed or transported by you
- A deductible or percentage you still pay
When You Can Skip It
Contractors with an inland marine or equipment floater policy that covers rented or leased equipment can usually provide a certificate of insurance (COI) naming the rental company. Homeowner policies rarely cover rented heavy equipment, so check with your agent before declining.
Protect Yourself Either Way
- Photograph or video the machine at delivery, including hour meter and fuel gauge
- Report any damage or fault immediately and stop using the machine
- Read the damage section of the contract before signing