Physical Damage Protection (PDP) brings the same physical damage insurance protections of JT Bates Insurance Group’s Rental Equipment ProtectionTM (REP) to qualifying purchased and/or long-term lease equipment. Investments in equipment financed for purchase or long-term lease can now carry the same all-risk coverage our customers trust in REP along with a hassle free claims process, immediately effective coverage and the peace of mind that claims will not affect other insurance premiums. The only difference between REP and PDP is the rates. JT Bates Insurance Group ensures the lower risk of purchased and long-term lease equipment is matched by lower, competitive rates.
PDP offers all the same great protections of REP but uniquely designed for long-term lease and/or purchased equipment.
When a loss occurs, REP will pay the entire cost to replace the vehicle rather than the actual cash value (ACV), or market price of the used vehicle.
Claims will not affect business insurance premiums for the dealer or the customer.
Pricing for PDP from JT Bates Insurance Group is competitive and based on the value of the covered equipment.
PDP offers the same excellent coverage of REP. Unlike other physical damage insurance protection options, our all-risk coverage protects you unless specifically stated otherwise. Any long-term lease equipment - except that licensed for the road - is eligible. With the exceptions of loss of use, mechanical breakdown, missing property, wear and tear and criminal activity committed by the dealer, PDP can protect anything from trenching boxes to excavators from risks of the job site.
*Not all Named Peril policies are written the same. The list we chose is an example of a typical policy.