Frequently Asked Questions
Rental Equipment Protection (REP) FAQs
All-risk coverage means that losses will be covered unless the perils are specifically listed as excluded. The only exclusions in our damage waiver (REP) are either because another policy should cover the loss or no insurance policy will ever cover the loss. Contact us for a full list of exclusions.
Simple. Fill out the short application below, and a team member will contact you. It should only take a few minutes to complete.
You can complete the REP application here. Submit REP Application
Alternatively, you can call us at (512) 359-9736 or email us at info@jtbatesgroup.com for more information.
Self-funded often generates more revenue upfront, but over time, it will most likely generate less revenue. Here’s why.
The average self-funded damage waiver does not cover many causes of equipment damage. All-risk programs like ours provide equipment protection on a more comprehensive scale. When given the option, renters will choose to buy a damage waiver that offers broader protection more often than one that offers little (if any) protection.
Self-funded damage waivers that offer little protection in the event of accidental damage will create dissatisfied customers. Dissatisfied customers create a frustrated rental staff. Negative customer and employee experiences may have significant repercussions on your overall rental revenue.
- Rental equipment losses are often unpredictable. This unpredictability means that while you can predict revenue from damage waiver sales, you can’t guarantee that the revenue won’t get consumed by paying for equipment damage.
For more information on the differences between self-funded and insurance-backed programs like REP, email us at info@jtbatesgroup.com.
The “cost” of REP can vary from dealer to dealer. The determinator of what it costs is the amount of rental sales a dealer attaches to REP. The more REP is attached to rental sales, the lower the rate.
The REP policy is between the dealer and JT Bates Group. Therefore, coverage does not need to be bound on a per-customer basis. Dealers only need to add contract wording to their rental contract stating they purchased REP at the time of rental.
Our team will work with you to create a report from your ERP system that tracks all transactions where REP was attached. Once the report is built, a member of your team will email it to us monthly. After our team reviews the report, we will issue an invoice for the amount owed.
StraightDocs FAQ
We don’t charge for storage–you’re only charged when you submit a new COI or ask us to renew an old one.
Step 1: Our partners email us COIs.
Step 2: Our licensed administrators will enter the COI into our system and review them.
Step 3: If the COI is in compliance, our system will reflect that. If it is not, our administrators will contact the renter’s insurance agent, notifying them that their insured is attempting to rent equipment and needs an updated COI. We communicate all necessary information to the renter’s carrier in order to obtain a COI that complies with the dealer’s requirements.
You only pay for what you use. We will issue an invoice once a month after running a report of all COIs processed during that period.
While we can share recommendations, we do not set insurance requirements for our partners. Dealers set their insurance requirements to suit their business’s unique needs, and our team will work within the boundaries of those requirements.
Yes! Our CIO, Brad Bates, built the StraightDocs system from scratch. This means we have complete control over its functions and how those functions serve our partners.
Today, we can track vendor contracts, sales tax exemption forms, motor carrier permits, and more.
For more information about StraightDocs, call (512) 359-9736 or email info@jtbatesgroup.com.
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