Protecting Your Rental Equipment
Damage Waiver Coverage The Damage Waiver covers damage to The Eagle Leasing Company(“Eagle”) rental equipment (“Equipment”) from theft, forced entry, attempted forced entry, earthquake, hail, windstorm, hurricane, and tornado, provided that you comply with the terms and conditions of the rental agreement. For the Damage Waiver to cover damage or loss from theft, forced entry, or attempted forced entry, you must (1) take reasonable precautions against such theft, forced entry, or attempted forced entry, (2) notify Eagle of such event within three business days of your first knowledge of such event and (3) deliver to Eagle a copy of the police report documenting such event within 30 days of your first knowledge of such event.
Damage Waiver Benefits:
- Limited Protection from damage to Equipment you have rented
- Reduction of insurance claims reported to your insurance company, which minimizes your company’s loss experience record.
- Lower deductible limits than many insurance policies
- Saves time associated with obtaining the proper insurance certificate
The Damage Waiver is not insurance. The Damage Waiver does not protect you from liability to others or Eagle arising out of possession, use, operation, or transport of Equipment rented from Eagle, nor does it cover loss of or damage to any Equipment contents.
You will be charged for the Damage Waiver unless you provide evidence of insurance: The Damage Waiver will be charged for each rental period unless you decline the Damage Waiver in writing and deliver to Eagle a certificate of insurance from an insurance company acceptable to Eagle, meeting all of the following requirements: (1) coverage in the minimum amounts of $25,000 for property damage per unit of Equipment you rent and, for trailers only, $1,000,000 combined single limit coverage per accident for personal injury and property damage, (2) “Eagle Leasing Company” must be named as an additional insured and loss payee with respect to all Equipment you rent, (3) the insurance policy is primary and any other insurance maintained by Eagle is excess to the insurance you provide and shall not contribute to losses or damage covered under the insurance policy you provide and (4) the policy must provide for at least 30 days written notice to Eagle before cancellation of the insurance policy can be completed. If effective insurance is not maintained with Eagle, you will be charged the Damage Waiver even if you produce a certificate of insurance at a later date.
The Damage Waiver limits your responsibility for certain types of damage. Providing you purchase the Damage Waiver and comply with the terms and conditions of the rental agreement, and providing that the damage to the Equipment is covered by the Damage Waiver, your responsibility for the damage would be limited to the following amounts per unit:
Storage Containers: $250.00
Storage Trailers: $500.00
Office Containers & Trailers: $1,000.00
Damage Waiver Price. The price of the Damage Waiver is set forth in your rental agreement with Eagle and is subject to change without notice. The terms of the rental agreement will control in the event of any inconsistency between the rental agreement and any other document, including this pamphlet.
Losses and Damage Not Covered by the Damage Waiver. Eagle will NOT waive your liability for damage or loss involving the following circumstances:
- Use or operation of the Equipment in a manner prohibited by or in breach of the rental agreement
- The unauthorized use or negligent or willful act of you, your employees or agents, improper use of the Equipment, overloading or improper load distribution, lack of maintenance, or neglect of the Equipment.
- Theft or loss of, or damage to, any Equipment contents.
- Delivery, pickup, or movement of Equipment.
- Damage or loss to a third party’s person or property resulting from any occurrence or accident involving a trailer or other rental unit, whether on-road or off-road.
- Tire repair or replacement.
- Fees for towing or storage
- Vandalism or malicious mischief, including graffiti
- Damage caused by snow.
- Damage to any accessories, including, without limitation, shelving, locks, ramps, pipe racks, lights, HVAC, etc.
- Damage caused by any third party not expressly covered under the Damage Waiver, not representing Eagle or you.
- If you are in default of the rental agreement.