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Rental/General Inquiry | Technical Info

Insurance

Requirements		Policy
Equipment Rentals Certificate of Insurance MLD customers have the option of providing a valid certificate of insurance, or paying our Damage/Loss Limit Fee (16% of the total rental) for catastrophic loss coverage. Specific terms of this agreement are listed under the Terms & Conditions tab. Please read and familiarize yourself with these terms before renting. Valid Certificates A valid Certificate of Insurance is an original copy for the current policy period issued by and sent from the customer's insurance company. If a copy is not received by the time the rental delivers, our invoice will reflect a charge for the Loss Limit Fee. However, if a valid certificate is received within the customer's credit terms, the policy was in force at the time, and there was no rental loss, credit will be issued for the fee. Certificate Holder The certificate must name MLD Equipment Rental, Inc. as certificate holder. (NOTE: MLD does not accept certificates that have handwritten information). Additional Insured/Loss Payee MLD Equipment Rental, Inc. must be named as Additional Insured with respect to General Liability and Loss Payee with respect to equipment rented from us. Named Insured The named insured must match the name on the contract, regardless of company ownership. (Example: John Doe owns companies A and B. An insurance certificate that lists company A only as the named insured will not be accepted for company B's rentals). Sample Certificate To ensure your carrier provides a valid certificate we have prepared a Sample Certificate showing all requirements in a downloadable Adobe Reader PDF format.		Coverage Policy Type The certificate must show general liability coverage and all-risk replacement cost coverage for equipment rented from others, including in transit and at various locations (this coverage is usually not included in General Property Insurance, but is specific to an Inland Marine, or Special Producers policy). Minimums Minimum coverage for general liability is $1,000,000 and $50,000 for rented equipment with a maximum deductible of $2,500. However, minimum coverage must always match the actual value of equipment rented. For example, a high-definition camera like the Red One requires more insurance than renting accessories.
		Vehicle Rental
		Additional Coverage Special Policy Requirements Vehicle rental customers are required to provide an additional certificate for Hired/Non-Owned Auto Liability and Hired Auto Physical Damage ($50,000 minimum). Also note that all drivers must be certified, or MLD approved to operate one of our vehicles. Specifics of the Auto Certificate are the same as for equipment. NOTE: The standard Damage/Loss Limit Fee applies to all equipment contained within a rented vehicle.

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