What is the Non Refundable Damage Waiver?
The Non Refundable Damage Waiver is an optional service we offer to our customers, which covers accidental damage to the rented equipment during the rental period. By choosing this waiver, you can have peace of mind knowing that you won't be held responsible for charges related to accidental damage of our equipment.
How Does It Work?The Nonrefundable Damage Waiver is calculated at a rate of 2% of the total replacement value of the equipment being rented. This fee is added to your rental cost at the time of booking or during the checkout process. By paying this fee, you reduce your liability for any accidental damage to the equipment.
Coverage LimitThe Damage Waiver is applicable to all rentals with a total replacement value of up to $10,000.00. If the total replacement value of the equipment is $5,000.00 or less, you can opt for the waiver without any additional coverage requirements.
ExclusionsIt is essential to note that the Non Refundable Damage Waiver does not cover damage caused by intentional misuse, theft, loss, or negligence. If the equipment is lost, stolen, or damaged due to any of these reasons, you will be responsible for the full replacement cost of the equipment.
Rental Equipment Value Above $10,000For rentals with a total replacement value above $10,000.00, you will have two options:
- Credit Hold: You can choose to provide a credit card hold for the full replacement value of the equipment. This means that we will place a hold on your credit card for the total value of the rented equipment until it is returned in satisfactory condition.
- Certificate of Liability Insurance: If you have a certificate of liability insurance that covers rented equipment, you can provide this as an alternative to the credit hold. The certificate should clearly state the coverage amount and rental equipment inclusion.
Example: Camera and Lens Rental
1. Camera Model: XYZ Pro Camera
- Replacement Value: $4,000.00
2. Lens Model: ABC Prime Lens
- Replacement Value: $1,000.00
The Nonrefundable Damage Waiver fee is calculated at 2% of the total replacement value, which is $5,000.00 in this example.
2% of $5,000.00 = 0.02 x $5,000.00 = $100.00
Waiver Fee: $100.00
In this example, the Nonrefundable Damage Waiver fee would be $100.00.
If you choose to include the waiver with your rental, you will be charged an additional $100.00 on top of the rental cost. By doing so, you protect yourself from any accidental damage to the camera and lens during the rental period, up to their total replacement value of $5,000.