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Insurance Requirements

Accidents happen, which is why it is important to make sure your rentals are covered with the correct insurance.  Below are the requirements King Equipment requires to rent equipment:

Certificate Holder

King Equipment LLC
1080 E. Ontario Blvd
Ontario, CA 91761

General Liability Insurance

King Equipment LLC, its officers, directors, employees and agents shall be named ADDITIONAL INSURED as their interest may appear.

Automobile Insurance - Rental of Trucks & Equipment Licensed for Road Use

Limit shall cover owned, hired and non-owned automobiles of the rental customer.

King Equipment LLC is named as LOSS PAYEE with respects to the replacement cost value of the rented and/or leased vehicles.

Equipment Floater / Inland Marine - Rental of Equipment

Requirements:

 

 Equipment of Others - Any one item equal to the replacement cost of the equipment

 OR

 

 

 Equipment of Others - All Items equal to the replacement cost of all equipment on rent

 OR

 

 

 Equipment Floater - Limit must exceed replacement cost of the piece of equipment

 

King Equipment LLC is named as LOSS PAYEE with respects to the replacement cost value of the rented and/or leased equipment.

Cancellation Requirement

Rental Customer shall provide to King Equipment LLC at least thirty (30) days prior to termination, non-renewal, cancellation or reduction of coverage in the policy.

Insurance Company Requirement

Insurance carrier shall meet minimum A.M. Best Company standard rating of A- VII or greater.



Physical Damage Waiver

If the customer elects not to provide insurance to King Equipment, please understand that Physical Damage Waiver is NOT insurance.  If lessee accepts Physical Damage Waiver, lessee will not be responsible for any loss or damage to the equipment, subject to a deductible of $2,500 (plus applicable taxes) from any cause except:

    »  Loss or damage resulting from overloading, exceeding rated capacity, misuse, abuse or improper servicing of the equipment

    »  Damage to the tires and tubes from blow out, bruises, cuts, flats or other causes.

    »  Loss or damage resulting from use of equipment in violation of the applicable manufacturer instruction manual

    »  Loss due to mysterious disappearance or wrongful conversion by a person entrusted with the equipment

    »  Loss or damage resulting from over spray of concrete, paint or any other material.

    »  Damage to crane wire ropes

    »  Damage to glass

    »  Any loss or damage to the equipment resulting from lessee in breach of any provision of the rental terms and conditions

    »  Any loss or damage resulting from theft.

If you have questions relating to Physical Damage Waiver, please call your sales representative.