certificate of insurance Requirements

To ensure smooth equipment rentals, it’s essential that renters meet specific insurance coverage guidelines. This page outlines everything you need to know, including liability limits, policy terms, and what to expect if valid coverage isn’t provided. With a clear understanding of these requirements, you can avoid delays and focus on what matters—getting the job done. If you're enrolled in our Rental Protection Plan, additional details are provided to cover your equipment needs.

Why is coi required?

A Certificate of Insurance (COI) is essential to ensure both EquipmentShare and our customers are protected. This document proves that you have the necessary coverage for equipment rentals, including liability and property protection.

Coverage requirements for all contracts

Commercial General Liability Policy: Each customer must maintain and provide proof of said coverage in compliance with the items listed below:

• Minimum Limit: $1M per occurrence / $2M General Aggregate
• Additional Insured: EquipmentShare must be listed as Additional Insured for general liability
• Rental Period Validity: Coverage must align with the rental period's start and end dates
• Company Name Consistency: The COI must reflect the same company name used in your EquipmentShare application, the insured name (DBA).
• Primary & Noncontributory: All policies must be primary and noncontributory
• Waiver of Subrogation: Required for EquipmentShare.com Inc.
• 30-Day Cancellation Notice: Policies must provide notice before cancellation.
• Certificate Holder:
  ‍Equipmentshare.com Inc  
  5710 Bull Run Dr.  
  Columbia, MO 65201  

Equipment Rental Contract Requirements

Property Coverage for Leased and/or Rented Equipment:
Customers are automatically enrolled in the Rental Protection Plan where valid coverage is not provided. This is a limited damage waiver (not insurance) and charges 15% of the gross rental fee per rented item (20% for demolition or forestry).

Property Coverage Requirements:

• Coverage Limit: $100K minimum
  
• Rental Period Validity: Coverage must match rental dates.
• Loss Payee: EquipmentShare must be named as the Loss Payee.
• Automatic Enrollment: Customers without valid insurance are enrolled in the Rental Protection Plan at 15% of the rental fee (20% for demolition or forestry).

On-Road Rentals Contract:
Separately, Auto Liability and Hired Auto Physical Damage policies are also required of customers who anticipate utilization of our On-Road Program.

Auto Rental Requirements: (Dump, pick-up, and water trucks, etc)

• Any Auto, including Hired and Non- Owned Auto Liability: $1M combined single limit per occurrence
  
• Additional Insured: EquipmentShare must be listed as an Additional Insured with respect to the AutoLiability Policy.
• Hired Auto Physical Damage Insurance: $100K minimum coverage; EquipmentShare listed as Loss Payee.
• Loss Payee: EquipmentShare must be listed as Loss Payee with respect to the Hired Auto PhysicalDamage Insurance Policy.

Important: EquipmentShare reserves the right to require the Renter to submit Certificates of Insurance (COI) and/or Letters of Endorsement verifying the Renter holds and carries policies and coverages meeting the above criteria and containing specified endorsements.

Frequently Asked Questions (FAQ)

Q: What happens if my COI doesn’t meet the requirements?
‍A: You’ll be notified of the missing elements and can update your policy accordingly.

‍Q: Can I use a COI from a previous rental?
‍A: Yes, as long as it covers the specific rental period and meets all other criteria.

‍Q: What if I don't have my own insurance?
‍A: You will automatically be enrolled in our Rental Protection Plan.

Need assistance? Our team is here to help you ensure compliance and make the rental process smooth.

1.888.807.3687
coi@equipmentshare.com