Terms and Conditions
POLICY UPDATED: September 8, 2021
At EquipmentShare, we understand that accidents can happen to anyone. With construction equipment often costing tens or even hundreds of thousands of dollars, a single accident or theft can erase months of hard-earned profits. EquipmentShare’s Rental Protection Plan (“RPP”) is designed to help protect renters who don’t have independent property insurance policies that cover rented equipment. If you choose to purchase a RPP by selecting the RPP option for the Rental Period on the Equipment or the RPP is automatically placed on the Equipment in lieu of a valid COI, you will, subject to the following terms and conditions, only be held responsible for the first $1,000 of any loss or damage to each piece of the rented equipment (“Equipment”).
THE RPP IS NOT INSURANCE AND DOES NOT PROTECT YOU FROM OR LIMIT YOUR LIABILITY TO EQUIPMENTSHARE, THE EQUIPMENT OWNER, OR ANY OTHER PARTY ARISING OUT OF YOUR POSSESSION, USE, OR OPERATION OF EQUIPMENT, INCLUDING INJURY OR DAMAGE TO PERSONS OR PROPERTY. THE EXTENT OF COVERAGE IS LIMITED TO THE REPLACEMENT COST OF THE RENTED EQUIPMENT. ON-HIGHWAY EQUIPMENT IS NOT ELIGIBLE FOR RPP.
Subject to the below Conditions and Exclusions, the RPP limits the amount you may owe to EquipmentShare for loss, damage, or destruction of Equipment to the following amounts:
The RPP will only apply if:
An “Event” is any loss to the Equipment including, but not limited to, losses caused by theft, accident, misuse, damage (other than ordinary wear and tear) or destruction of the Equipment. If any of the below Exclusions apply, as determined by EquipmentShare in its sole and absolute discretion after investigating the Event, the RPP will NOT cover the Event.
Specifically, the RPP will NOT cover an Event:
Notwithstanding anything to the contrary in this RPP Agreement, if lost or stolen Equipment is later recovered, EquipmentShare will retain ownership of the Equipment regardless of any payments made by you or your insurance company to EquipmentShare with respect to such Equipment; all such payments are non-refundable.