Built on over thirty years of experience in the heavy equipment industry, JT Bates Insurance Group’s Rental Equipment Protection plan (REP) offers physical damage coverage for rental equipment that is truly comprehensive. Not only does it enhance profits for equipment dealers and rental houses, it adds value for rental customers. REP protects rental customers as much as it protects rental equipment assets by offering all-risk coverage, a hassle free claims process, immediately effective coverage and the peace of mind that claims will not affect other insurance premiums. REP can protect all of your rental equipment, except those licensed for the road.
By keeping rates low, REP will increase profitability for existing rental businesses. Higher sales of REP results in even more rate discounts.
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.
Deductibles, usually classified as a customer contribution by dealers, encourage the customer to care for the equipment, and the contribution with REP in place will be lower than the deductible on the customer’s policy in most cases.
Unlike many damage waivers, JT Bates Insurance Group's Rental Equipment Protection plan offers all-risk coverage that benefits both equipment dealers and their renters. Unless specifically stated otherwise, REP will cover just about any circumstance you can imagine and will do so without asking our customers to take on any extra risk. With the exceptions of criminal acts committed by the dealer, mechanical breakdown, missing property, and wear and tear, JT Bates has got you covered.
*Not all Named Peril policies are written the same. The list we chose is an example of a typical policy.