Rented Equipment Policy, Frequently Asked Questions

Transcription

1 Rented Equipment Plicy, Frequently Asked Questins (2) Hw T Apply (3) What is inland marine insurance? What is the rented prductin equipment limit? (4) D I have t schedule anything fr this plicy? What is Rental Huse Lss f Use Cverage? Why nly Supprt? What This Plicy Cvers What is cnsidered prductin equipment? Are prps and wardrbe included? (5) Are drnes cvered? Can I rent frm mre than ne rental huse? Can I rent frm an individual r ther entity? Paused applicatin due t a past claim? Hw can I add underwater equipment cverage? Internatinal Cverage (6) Internatinal deductible Travel t Mexic Premium Payment What is the minimum plicy premium? My credit card is nt wrking. Can I pay in installments? (7) Explring Yur Hmepage Dashbard (8) What is my deductible? Hw can I increase my plicy limit? Can I cancel this plicy? Will this plicy cver my equipment, rented t thers? Can I add General Liability t this plicy? (9) What is a Shrt-Term Rented Equipment Endrsement? Hw d I renew my annual plicy? Certificates Hw d I issue certificates f insurance? (10) Hw d I list my vendr as Additinal Insured r Lss Payee? Can I issue certificates t internatinal cmpanies? Claims What scenaris are cvered? Hw d I file a claim? Hw lng will it take t clse my claim? (11) What infrmatin d I need t file a claim? Hw is my deductible applied in a claim?

2 Hw T Apply T view a qute fr a rented equipment plicy, yu must apply at The applicatin takes a few minutes. When yu ve seen the qute yu can mve frward with purchase, save the qute fr later r trash it t begin anew. Befre yu apply, cllect the fllwing infrmatin: Ttal value f all rented equipment. This will be yur plicy limit. It shuld include everything yu plan t rent. Fr example, if yu are renting three lenses valued at $3,000 each, yur rented equipment limit will be $9,000. Desired Length f Plicy. All plicies begin and end at 12:01AM. We ffer a shrt term plicy (ne day 11 mnths) r annual plicy. Yu are able t extend yur plicy duratin at a later time if yu need t. Methd f Payment. Yu must use a credit card that is linked t an American billing address. Lg in at - If yu already have an accunt, lg in using yur and passwrd cmbinatin. If yu need t create an accunt, click Rented Equipment, then the range buttn. - While applying, enter the prmpted infrmatin. This includes yur address (used as yur primary lg-in and nt added t any mailing lists), plicyhlder name (yur name r the name f yur business r LLC, nt the rental huse yu re using), and additinal cntact inf. Read thrugh the Usage Agreement and click the check bx t agree t ur website s terms. Make sure t als take time t click n the Privacy Plicy, Cancellatin / Refund Plicy, Claims Infrmatin sheet and Administrative Fee infrmatin, available by link under the Usage Agreement Read the Plicy Requirements and click the check bxes t agree t the plicy stipulatins. Cmplete the Underwriting Infrmatin sectin and select yur Plicy Terms. Cmplete the Insurance Cverage Infrmatin sectin with the specifics f yur cverage needs. Yu re almst there 2

3 Review yur qute. Make sure t duble check the Named Insured, Plicy Infrmatin and summary f cverages and premium. Yu nw have the ptin t G t Payment t issue a certificate immediately, Save Qute and Clse t save the qute fr later r Make Edits t change any infrmatin n yur applicatin. Nw yu ll be able t list yur vendr as Lss Payee n a certificate f insurance. Yu ll be directed t a certificate generatin page upn cmpletin f the purchase. Yu can issue mre certificates later frm yur hmepage dashbard. Issue a certificate. Yu can nw select a certificate hlder (a third party that requires prf f cverage). The certificate hlder will becme Lss Payee n yur plicy and wuld receive the cmpensatin fr a claim filed fr their equipment. Yu can either select a certificate hlder frm the drp dwn menu (Rental Huse Partners nly listed) r create a new certificate hlder. Q: What is inland marine insurance? Inland marine cverage is a specialized insurance that cvers mvable prperty. The name stems frm the rigins f insurance: Marine insurance used t cver a ship and its carg at sea and Inland Marine cvered the ship s carg nce it reached land and was en rute t its final destinatin. The cverage has since evlved t include varius types f mvable prperty, in ur case: prductin equipment. Q: What is an equipment limit? The rented prductin equipment limit is the maximum amunt f equipment yu can rent frm a 3 rd party (r multiple 3 rd parties) at any given pint thrughut yur plicy perid. Yu are nt able t purchase a plicy with a limit abve $500,000 withut additinal apprval frm ur staff, s d plan ahead and allw fr ne business day if yu require a limit abve $500,000. Hypthetical: Yu rent $40,000 f equipment frm ne rental huse and $60,000 frm anther n the same day, s the ttal replacement cst f the equipment yu are renting is $100,000. Yu shuld set yur plicy s rented equipment limit t $100,000 and issue tw certificates f insurance; ne t each vendr yu re renting frm. Hypthetical: Yu are invlved with prductins thrughut the year. Yu dn t plan t rent mre than $30,000 at ne time, but may rent $30,000 n 10 different ccasins. Yu shuld set yur plicy s rented equipment limit t $30,000. Yu can lg n each time yu use a new vendr t issue a new certificate f insurance. If yu need t increase yur limit temprarily, r permanently, yu can d s frm yur hmepage dashbard. 3

4 Q: D I have t schedule anything nt this plicy? If yu rent any ne item valued at $100,000 r mre, yu must schedule the item. Send an t InternetBusinessDivisin@heffins.cm including the make, mdel and replacement cst value. Other equipment is cnsidered unscheduled and is included int yur general plicy limit. Q: What is Rental Huse Lss f Use (LOU) Cverage? In the event that yu damage rented equipment and the rental huse r individual lses incme as a result, this endrsement can be used t reimburse the rental huse r individual fr the lst incme, up t yur plicy s specified limit, with a waiting perid f 72 hurs. This nly applies t claims that are cvered by yur plicy. Yu can add this cverage when yu purchase a plicy, r at any time by clicking the link t Mdify Cverage Perid and Amunt. $25,000 is the maximum LOU limit fr an annual plicy and applies t all claims thrughut the year. $5,000 is the maximum shrt-term r endrsement limit. Example: Yu rent a camera frm a rental huse fr ne week with a rate f $500 per week. During yur rental, yu damage the camera and the repair requires three weeks. The rental huse culd request that yu reimburse the $1,500 in lst incme they wuld have received if yu had returned the camera in wrking frm. With LOU cverage, this plicy will pay fr the rental huse s lst incme, subject t a 72 hur waiting perid and yur plicy s limit. Q: Why can t I call t ask my questin? D I have t send an ? T ffer yu the best pssible price, we have retired phne supprt. We rely slely n cmmunicatin and will accept questins r requests at InternetBusinessDivisin@Heffins.cm. Review the answers t the questins in this guide. IF yur questin remains unanswered, send us an and yu ll receive a respnse within a business day. What This Plicy Cvers Q: What des prductin equipment include? Cameras & Camera Equipment, Sund, Lighting, Grip Equipment; Cmmunicatins Equipment; Prtable Electric Equipment; Editing and Prjectin Equipment; Office Persnal Prperty & Similar Persnal Prperty; Generatrs; Mechanical Effects Equipment; Prps; Sets, and Wardrbes and all similar persnal prperty Q: Are rented prps and wardrbe cvered by this plicy? Yes. 4

5 Q: Are drnes cvered by this plicy? Unfrtunately, drnes are nt cvered while in peratin. Due t ever-changing FAA regulatins, drnes are nly cvered while in strage r transit. We dn t ffer any plicy that wuld cver a drne in peratin, at this time. Q: Can I rent frm mre than ne rental huse r individual using just ne plicy? Yes. Remember that the ttal amunt f equipment yu re renting frm all parties at any ne time cannt exceed yur plicy limit. Q: Can I rent frm an individual and nt just a rental huse? Yes. If yu d, yu shuld make sure f the fllwing: the individual has adequate insurance fr his/ her wned equipment, the individual has valid receipts / prfs f purchase fr the equipment, and that yu and the wner have a valid rental agreement in place. Q: During my applicatin, I answered that I have had a claim in the past and my applicatin was paused. What will happen next? Our staff will review the infrmatin yu prvided and cntact yu by when yu are able t retrieve yur saved qute t mve frward. This can take a full business day, s plan ahead! Once yu receive an frm ur team infrming yu that yu can cntinue, make sure t lg in t yur hmepage dashbard t retrieve yur saved qute. D nt begin a new applicatin. Q: This equipment will g underwater. Can I purchase an underwater equipment endrsement? This plicy des nt cver any equipment that is intentinally aflat, submerged r underwater. We ffer an underwater endrsement that can be applied fr with additinal underwriting and premium payment. If yu require underwater cverage, please send an t InternetBusinessDivisin@heffins.cm including yur underwater equipment replacement cst and the dates fr which yu d like the endrsement active. Yu must als include an itemized list f each piece f equipment yu d like cvered, including make, mdel and replacement cst. This can take a few days s d plan ahead! Internatinal Cverage Q: I m ging ut f the cuntry. What d I need t knw? This is an all-risk peril plicy, subject t exclusins in the plicy. This plicy has WORLDWIDE COVERAGE. This means that yur equipment is cvered anywhere in the wrld while in use, peratin r strage. Here are the imprtant things t knw abut internatinal travel: 5

6 The plicy des nt cver equipment in any cuntries that are currently sanctined by the US State Department. Yu can find a cmprehensive list f these cuntries by fllwing the link belw. Yu are respnsible fr verifying that the lcatin(s) yu are traveling t is nt n this list. There is a $2,500 deductible applied t any claim arising internatinally, regardless f yur plicy deductible. The maximum equipment limit fr Mexic is $25,000. Even if yu purchase a plicy fr $50,000, the limit is set at $25,000. If yu need t increase this limit, send an t InternetBusinessDivisin@Heffins.cm with the fllwing infrmatin: Where will yu be in Mexic? Hw lng will yu be in Mexic? What is the ttal replacement cst f the equipment yu ll be taking t Mexic? Hw will the equipment be transprted within Mexic? What measure will yu take t prtect the equipment? What type f sht are yu participating in? Inside? Outside? Bth? Where will the sht take place? Q: What is the minimum plicy price? Premium Payment Fr a shrt-term rented equipment plicy, the minimum premium is $250. Fr annual plicies, the minimum premium is $470. Bth include the $75 admin fee. Premiums vary depending n plicy duratin and limits. Yu will need t apply nline at t review a qute. Our staff will nt be able t prvide a qute via . Q: What shuld I d if my credit card is nt wrking? Almst all f ur credit card declinatins are due t the billing address nt matching the address entered. Duble check that all CC infrmatin is crrect and send an t internetbusinessdivisin@heffins.cm if yu cntinue t have issues. We can nly accept credit card payments r debit payments frm cards with addresses within the United States. Q: D I pay my premium nce r thrughut the year? We dn t ffer any payment plans. Plicies must be paid fr, in full, at the time f purchase. 6

7 Explring the Dashbard After purchasing a plicy yur hmepage dashbard will lk like this. Frm here, yu can issue certificates, mdify yur plicy s length r equipment limit, view ld certificates, dwnlad yur plicy r invice, submit a claim, change yur passwrd r apply fr anther plicy. 7

8 Q: What is my plicy s deductible and hw is it determined? Yur plicy deductible is the amunt f mney yu are respnsible fr paying befre the insurance carrier s cverage kicks in. Yur deductible is included in yur qute and is determined by yur equipment limit. If yu file a claim fr a camera wrth $2,000 and yur plicy deductible is $500, yu wuld be required t pay $500 and the claim payment wuld be $1,500. Q: I need t rent mre equipment. Hw can I increase my plicy limit? On yur hmepage dashbard, yu will see a link t Mdify Cverage Perid and Amunt. Yu may als see links t Increase Rented Prductin Equipment Amunt and Add Shrt- Term Rented Prductin Equipment. These links will lead yu thrugh an applicatin and yu ll be able t view a qute fr the increase befre mving frward with the purchase. The increase will be endrsed in yur plicy immediately after payment. T increase yur rented equipment limit fr a shrt perid f time, add a shrt term rented equipment endrsement. Yu ll need t knw the amunt yu need t increase the limit by, and yur pick-up and drp-ff dates. T increase yur rented equipment limit fr the remainder f the plicy perid, click the link t increase yur limit. Yu ll be asked t enter yur new rented equipment amunt and Lss f Use cverage. Yu can als use this link t add just Lss f Use cverage. Q: Can I cancel this plicy? It is yur respnsibility t review the cancellatin dcument befre purchasing yur plicy, and we will assume that yu have. Due t ur carrier s intent t eliminate fraud, shrt-term plicies are nn-refundable and annual plicies are subject t minimum premium deductins even if a cancellatin is granted. Be sure abut yur plicy purchase befre clicking Submit Payment. If yu d need t request a cancellatin n an annual plicy, send us an with yur plicy number and reasn fr cancellatin. Q: Des this plicy cver my wn equipment that I m renting ut t thers? N. This plicy nly ffers cverage fr equipment rented frm rental huses r individuals. It will nt cver yur wn persnal equipment. T cver yur wn equipment, check ut ur Owned Equipment plicy. Q: Can I add general liability cverage nt this plicy? Yu are nt able t add general liability t this plicy. Hwever, yu can purchase a standalne liability plicy thrugh yur hmepage dashbard. Lg int yur accunt and scrll t the bttm where yu ll see a link t ur Camera Operatr General Liability plicy under Plicies. 8

9 Q: What is a Shrt-Term Rented Equipment Endrsement? Shrt-Term endrsements are available t annual plicyhlders. In the event that yu need t rent equipment fr a shrt perid f time and yur rented prductin equipment limit is lwer than the ttal replacement cst f the equipment yu re lking t rent, yu can purchase a shrt-term rented equipment endrsement t temprarily increase yur plicy s limit. Find the link n yur hmepage dashbard and remember, all shrt term endrsements are fully earned and cannt be refunded. Example: Yur current rented prductin equipment limit is $20,000. Yu have a 2 day, $30,000 rental. Yu can purchase a shrt-term endrsement fr $10,000 fr 2 days t satisfy the required limit. Q: Hw d I renew my annual plicy? Annual Rented Equipment plicies are eligible fr plicy renewal. Lg in t yur accunt s dashbard. T the right f yur plicy number, yu ll see a link click here t renew. Click the link t cmplete the applicatin. Input the Rented Equipment limit (the max amunt f equipment yu can rent at any ne time,) the Rental Huse Lss f Use (amunt that the rental huse might charge fr lst incme due t lss r damage t their equipment,) and click cntinue. If yu need t edit any values, click the link t edit items. Next, click the link g t payment. Verify yur CC infrmatin including the billing address and submit payment t renew yur plicy. Yu can issue new certificates f insurance after yu ve purchase yur plicy. Q: Hw d I issue certificates? Certificates Upn cmpletin f yur applicatin, yu ll be asked t designate a certificate hlder. Yu can click n ne f ur rental huse partners in the drp-dwn menu, r add a custm cert hlder. Nte that yu are able t issue mre certificates f insurance yu ve purchased yur plicy by clicking the link t Issue a Certificate under Plicies n yur hmepage dashbard. Make sure t list yur vendr as the certificate hlder and nt yurself. Q: I have t list my rental huse as Additinal Insured as well as Lss Payee. Hw d I d this? T list yur vendr as Lss Payee, issue a certificate frm yur rented equipment plicy. T list yur vendr as additinal insured, yu will need t carry liability cverage. T get liability thrugh yu will need t apply fr the plicy thrugh yur hmepage dashbard. It is cvered by a different insurance carrier and des nt simply add n t yur rented equipment plicy. G t yur hmepage dashbard t find the applicatin link under Order New Plicies. 9

10 Q: Can I issue certificates f insurance t cmpanies that are lcated utside f the United States? N. Our plicy is written n the law f the land and will nly wrk t cver rentals frm cmpanies that are dmiciled within the United States. We can make exceptins fr Canadian cmpanies n case-by-case basis. Please cntact InternetBusinessDivisin@heffins.cm if yu need a certificate fr a Canadian cmpany. Claims Q: What claim scenaris are cvered by this plicy? Theft frm the insured (nt by the insured), Accidental damages, equipment in transit, incidental water damage frm accidental expsure, fire, earthquake, fld, smke, falling bjects, lightning, explsin, windstrm, hail, and/r terrrism. Q: What claim scenaris wuld nt be cvered by this plicy? As the plicyhlder, it is yur respnsibility t dwnlad and review yur plicy fr any exclusins. The fllwing list is nt mean t replace the plicy language and/r the exclusins n the plicy. Majr exclusins are: Equipment nt cnsidered prductin equipment, Equipment stlen frm an unlcked vehicle, equipment breakdwn (wear & tear), deteriratin, items ver $150,000 nt individually scheduled, equipment intentinally aflat r submerged underwater, vermin, seizure r destructin f prperty by rder f gvernmental authrity, war (including civil), insurrectin, rebellin, illegal transprtatin r trade, illegally btained equipment, fine art repairing r restratin, intentinal acts (theft by the insured), airbrne remte cntrlled aircraft. Q: Hw d I file a claim? Lg in t yur hmepage dashbard. Click the link t submit a claim; Yur claim applicatin will be received by the claims department at Atlantic Specialty Insurance Services. With ur assistance, they will assign a claim number and a claims adjuster t assist yu with clsing yur claim. This adjuster will send yu an and call yu n the phne within 72 hurs f yur applicatin. Make sure t keep all receipts, invices and plice reprts available t share with the adjuster. Yu will receive a cpy f the claims reprting guidelines when yu submit yur claim. Q: Hw lng will it take t clse my claim? Claims can take tw weeks t ne mnth t clse. Yur immediate filing and quick respnses nce in tuch with the adjuster will help speed the claims prceeding alng. If ever yu feel yur claim prceeding is stalled, reach ut directly t yur adjuster, r, send an t InternetBusinessDivisin@Heffins.cm; we can als reach ut t yur adjuster. 10

11 Q: What infrmatin will I need t file a claim? Befre filing a claim, cllect the fllwing infrmatin: full list f equipment included in the claim, plice reprt if the claim invlves any srt f theft, rental receipt and an estimate f the prbable amunt f lss. If yu have included LOU cverage in yur plicy and yur certificate hlder is requesting cmpensatin fr lss f incme frm the rental while it was in repair, please prvide the address f the certificate hlder t yur claims adjuster. Q: Hw is my deductible applied in a claim? Yur deductible must be paid directly the certificate hlder (likely a rental huse). The insurance carrier will mail the final claim payment, less the deductible, t the certificate hlder (rental huse) directly after the claim is clsed. Yu can include yur certificate hlder n the s with yur adjuster if yu d like t. 11