Caprock Rentals requires a current Certificate of Insurance (COI) from your company for any equipment rental, lease, or demo. With a COI on file, you can use your insurance policy to cover any damages or theft that may occur during the rental period. Alternatively, you can choose to purchase Caprock Rentals' Damage Waiver for added protection.

If you are unable to provide a COI, you will be required to purchase Caprock Rentals' Damage Waiver. This waiver ensures coverage for potential damages or theft, offering peace of mind during your rental period.

Caprock Rentals offers an optional Damage Waiver to reduce your liability for any unforeseen damages or theft that may occur during your rental period. This waiver is designed to provide peace of mind and financial protection against potential repair or replacement costs.

What does the Damage Waiver cover? The Damage Waiver covers 80% of the first $10,000 in repair or replacement costs for rented items. You are responsible for the remaining 20%. For example, if a rented item incurs $1,000 in damages, the Damage Waiver will cover $800, leaving you responsible for $200. For larger damages, such as $18,000, the Damage Waiver will cover $8,000 (80% of the first $10,000), and you will be responsible for the remaining $10,000 (20% of $10,000 plus the additional $8,000).

Please note that the Damage Waiver does not cover items not listed in the waiver, transportation-related damages, GPS systems, or costs beyond $10,000. Full liability applies to these exclusions. While the Damage Waiver is not insurance or a warranty, it offers a significant reduction in out-of-pocket expenses for covered damages. Caprock recommends consulting with your insurance company prior to renting to determine the best coverage option for your needs.

What Does the Damage Waiver Cost?
The Damage Waiver at Caprock Rentals costs 15% of the rental amount for our contracts. For example, if you rent a piece of equipment for $1,000, an additional 15% ($150) will be added to the rental invoice each billing period. Please note that this fee applies only to the rental amount and does not get applied to other charges, fees, taxes, or any additional costs.

• To meet Caprock Rentals' insurance requirements, please provide a Certificate of Insurance (COI) that includes the following:
  • Caprock Rentals listed as a certificate holder.
  • Liability insurance with minimum limits of $1,000,000 per occurrence.
  • Workers' compensation and employment insurance.

  These requirements ensure comprehensive coverage and protect both parties during the rental period.

• Property damage insurance covering all items for their full replacement cost

Insurance Requirements - You agree to maintain all insurance we may require, including: (a) liability insurance with minimum limits of $1,000,000 per occurrence; (b) workers' compensation and employer's liability insurance; (c) property damage/inland marine insurance covering all Items for the full (new) replacement cost thereof; and (d) if applicable, (e.g. for vehicles and trailers) hired auto liability and physical damage insurance, whenever possible: (i) naming CAP as an additional insured and loss payee; (ii) waiving subrogation against CAP; (iii) being primary and non-contributory; and (iv) including such other provisions (including deductibles) as CAP may require. You irrevocably appoint CAP as your agent and attorney-in-fact for purposes of submitting, negotiating, and settling claims on all such policies.

Limited Damage Waiver (LDW) - If and only if, we have offered, and you have paid for our OPTIONAL LIMITED DAMAGE WAIVER ("LOW") (set forth on P.l, if available) in advance of the Term, you will have no liability to us for 80% of the first $10,000 of repair/replacement costs for physical damage to ltem(s) covered by LOW ("Covered ltem(s)"); provided however, that you will, remain fully liable for: (a) all loss of and damage to: (i) ltem(s) not covered by LOW; (ii) Covered ltem(s) lost or damaged during transportation and/or as a result of: (A) any breach of this Contract by you or your sublessees, transferees, borrowers, successors and/or assigns; (B) theft or other failure to timely return Covered ltem(s) to us; (C) negligence, misuse and/or abuse of Rented ltem(s) (including submerging, overturning, and damage by falling objects); (iii) GPS and telematics systems, cords, data, batteries, and glass; (b) 20% of the first $10,000 of repair/replacement costs for Covered ltem(s); and (c) all repair and replacement costs exceeding $10,000 in the aggregate across all Covered ltem(s). You may decline LOW if you provide the property/physical damage/inland marine insurance referenced in§ 9. Your insurance, if any, will continue to apply and will remain primary. You agree to assist us in recovering thereunder for all losses covered by LDW.

Statutory Damage Waiver Notice - This contract offers an optional loss damage waiver for an additional charge to cover your responsibility for loss of or damage to the equipment. You do not have to purchase this coverage. Before deciding whether to purchase this loss damage waiver, you may consider whether you insurance policies afford you coverage for loss of or damage to the equipment rented and the amount of the deductible you would pay under your policies.