MILTON RENTS LOSS DAMAGE WAIVER GUIDE

Click here to download Loss Damage Waiver Guide

1. 1. What is Milton Rents Loss Damage Waiver?
      The Milton Rents Loss Damage Waiver is a program offered by Milton Rents that enables customers to significantly reduce their potential financial liability on rental equipment when it is lost or damaged. It is not Insurance.
   2. How much does the Loss Damage Waiver Cost?
      The fee for the Loss Damage Waiver is 15% of the rental amount. No Loss Damage Waiver fee is applied to purchases, delivery charges, fuels, or tax.
   3. How does the Loss Damage Waiver work?
      In exchange for purchasing the Damage Waiver, the customer limits their responsibility to pay (see #6). Without Loss Damage Waiver the renter is responsible for all charges to bring the rented items back to their original condition, or if lost, the full value of the equipment.
   4. What if I don’t want the Milton Rents Loss Damage Waiver?
      If the customer can meet the insurance requirements of Milton Rents they may decline the purchase of the Loss Damage Waiver. (See Insurance Requirements).
   5. What is not covered?
      The customer must take reasonable measures to protect against loss or damage. NEGLIGENCE & ABUSE ARE NOT COVERED. Milton Rents personnel will determine if the loss and/or damage of rented item(s) was caused by customer negligence or abuse. If, in the opinion of Milton Rents personnel, the damage or loss was due to customer negligence or abuse, the customer is solely responsible to bring the rented item(s) back to their original condition or pay for the item if deemed by Milton Rents Personnel to be damaged beyond repair or the item(s) was lost or stolen.
   6. How do I use my Loss Damage Waiver?
      It is the customer’s responsibility to contact Milton Rents and file a report within 24 hours of the occurrence to evaluate the cause of the damage. In the event of theft or vandalism, the customer must also file a police report, and a copy of the report is to be provided to Milton Rents. If Milton Rents Personnel deems that the damage or loss was not caused by negligence or abuse, the customer will be covered according to the following schedule.
   7. What is not covered By the Loss Damage Waiver?
      Any damage that Milton Rents has determined to be from neglect or abuse. Items such as Broken Glass, Broken Mirrors, & Tire Damage are not covered. Any vandalism or theft that is not properly reported to the authorities with a copy of the report submitted to Milton Rents.

 

Milton Rents Covers loss and /or damage according to the following schedule:

Loss/Damage Amount	Milton Rents Covers	Customer Responsibility
First 25% of Value*	100%	None
Rest of Value*	50%	50%

*- Value based on Milton Rents’ Selling Price. Protection offered for first $20,000 of Value. Customer is fully responsible for all value in excess of $20,000.

Examples:

$500- covered damage to $10,000 Equipment- – Full Milton Rents Coverage – $0 to the customer

$4,000 covered damage to $10,000 Equipment – Full Milton Rents coverage of first $2,500-, Split next $1,500 – customer is responsible for $750-

Covered loss of $10,000 equipment – full Milton Rents coverage of first $2,500, & 50% of the next $7,500 –customer is responsible for $3,750

Covered loss of $25,000 Equipment – full Milton Rents coverage of the first $5,000 & 50% of the next $15,000, customer covers the next $5,000 plus 50% of the $15,000 for a total customer charge of $12,500-

ANY MACHINE WITH A SELLING PRICE ABOVE $100,000 CAN’T BE COVERED BY DAMAGE WAIVER AND REQUIRES A VALID CERTIFICATE OF INSURANCE PROVIDED BY THE CUSTOMER IN ORDER TO RENT.

Any questions, please contact our office at 603-752-5588 OR AR@miltonrents.com