Loss & Damage Waiver
When you rent a machine from us, you are responsible for it — for loss or damage from any cause while it is in your care, not only for damage you caused. That is standard in equipment rental, and it is why we ask for insurance.
Two ways to cover it
1. Your own insurance. Carry all-risk coverage on the equipment for its replacement value, plus liability cover, and name RINO Rents as an additional insured. Send us the certificate and you are set.
2. Our Loss & Damage Waiver.If you cannot provide that insurance, we can add a Loss & Damage Waiver charge to the rental instead. With the waiver in place, your liability for damage to a machine is capped at four weeks' rental on that machine rather than its full replacement value.
What the waiver does not cover
The waiver protects you from accidents. It does not protect you from misuse. You remain liable for all loss and damage if the machine is used without our permission or against the agreement — including overloading it, ignoring the operating manual, reckless or abusive operation, striking an overhead object, or exposing it to a harsh, extreme or corrosive environment.
The waiver also does not replace liability insurance. That is a separate requirement and it still applies.
The waiver rate is set on your rental agreement. Call us on (317) 868-4993 and we will talk it through for the machine you need.
The actual contract wording
The summary above is a plain-English guide. These are the binding clauses, exactly as they appear in the Terms & Conditions of Rental you sign.
7. LOSS AND DAMAGE
Except to the extent a "Loss and Damage Waiver" applies under Section 12, Lessee is solely responsible for all loss or damage to the Equipment from any cause whatsoever while on rental or in Lessee's care, custody or control, whether or not due to fault of Lessee, including without limitation loss or damage arising out of Lessee's negligence, fire, flood, theft, comprehensive loss, collision, upset and acts of God. Lessee shall immediately notify Lessor of any damage, accident or failure of the Equipment.
11. INSURANCE
Lessee will, at its sole expense, obtain and maintain (a) all-risk insurance against loss or damage to the Equipment in an amount at least equal to the replacement value of the Equipment, and (b) bodily injury and property damage liability insurance for an amount not less than $1,000,000 per occurrence and $2,000,000 in the aggregate. All such insurance must (a) be written by insurers that carry a rating by A.M. Best Company of at least "A" for a general policy holder and a financial rating of at least "VIII" (or otherwise reasonably satisfactory to Lessor), (b) be in such form as is reasonably acceptable to Lessor, (c) provide that Lessor will receive at least 30 days' notice of any material change in, or cancellation of, such policy, (d) name Lessor, and its officers, agents and employees, as additional insureds for Ongoing Operations and Products/Completed Operations on the Lessee's Commercial General Liability Policy and Excess or Umbrella Policy, all of which must be primary and noncontributory with respect to these additional insureds, and (e) contain a waiver of subrogation endorsement providing that the insurance company and its underwriters shall have no right of subrogation against Lessor or its insurers or underwriters. Lessee will provide Lessor with a certificate of insurance reflecting the foregoing coverages.
12. LOSS AND DAMAGE WAIVER
Notwithstanding paragraph 11, if Lessee is unable to provide the required loss and damage insurance, then at Lessor's option Lessee will be charged a "Loss and Damage Waiver" (LDW) charge at the rate specified in this Agreement. Conditioned upon receipt of such LDW charges, Lessee's responsibility for loss or damage to any item of Equipment will be limited to the four (4) week rental fee for such item; provided however that Lessee will be liable for ALL loss and damage to any item of Equipment that is used or operated without Lessor's permission or in violation of this Agreement, including without limitation in any manner that: (i) constitutes improper loading or loading in excess of the rated capacity of the Equipment, (ii) is inconsistent with the manufacturer's instructions or operating manual, (iii) is reckless, careless or abusive to the Equipment, (iv) results in or causes the striking of any overhead object, or (v) exposes the Equipment to an environment that is harsh, extreme, dangerous, corrosive or otherwise exposes the Equipment to an unusually high risk of damage or excessive wear and tear. Such LDW charges will in no way limit or affect Lessee's obligation to provide liability insurance under paragraph 11.