Rental Reimbursement Coverage
Insurance For The Independent Contractors
If you suffer a loss to your equipment, you may need replacement equipment to continue operating. Rental reimbursement covers the cost of renting replacement tractors, trucks, and trailers when a loss covered under your physical damage policy occurs to such equipment.
Some of the advantages of this coverage include:
- Payments equal to your areas cost of a short-term rental
- The limit may be increased to include the rental company daily mileage charge, based on your estimated use
- Flexibility in choosing the daily amount of coverage and the number of days covered
- No deductible applies
- Coverage for the units you specify
Note: If the loss to the equipment is not covered by the type of coverage shown in the schedule on this endorsement, or if you own substitute equipment that can be used in place of the damaged equipment, rental reimbursement coverage does not apply. If equipment rental costs are lower than the coverage limit, we pay the lesser amount.
The description of coverage is general and intended only to summarize the type of insurance, and not the terms and conditions of the insurance. For details of the actual terms and conditions of coverage, please refer to the actual policies.
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