When it comes to renting machinery for your projects, the last thing you want is unexpected expenses due to theft or damages. At Central Plant Hire, we often encounter a common question from our clients: “Why do I need loss and damage waiver?” In this blog, we’ll delve into the reasons behind the necessity of this waiver and how it can save you from potential financial burdens.
The Unpredictability of Theft
You might assume that your property is safe for rented machinery, but unfortunately, that’s not always the case. We’ve experienced thefts from seemingly secure locations, including private properties and compounds with 24-hour security. Shockingly, some individuals posing as our representatives have made off with machines right under the noses of unsuspecting customers. These incidents highlight the unpredictability of theft, making the Loss and Damage Waiver an essential layer of protection.
Damage
While theft is a major concern, the majority of claims we receive are related to damage incurred during the rental period. Surprisingly, it’s not always vital components that suffer the most. Commonly damaged parts include the door on a 3-ton mini digger and a side panel on a 1.5-ton mini digger. Without the Loss and Damage Waiver, repairing these seemingly minor damages could lead to significant costs.
The Financial Impact of Damages
Consider this – the replacement cost for a damaged door on a 3-ton mini digger is £1,800 +VAT, and a side panel for a 1.5-ton mini digger comes in at £276 +VAT. These expenses can quickly add up, turning a seemingly small incident into a financial headache for everyone involved. This is where the loss and damage waiver steps in to save the day. The waiver is calculated at 15% of the hire rate, plus VAT, making it a reasonable investment compared to the potential repair costs. It acts as a safety net, offering you peace of mind during the rental period, knowing that you won’t be burdened with hefty bills in the event of accidental damages or events out of your control.
In the world of plant hire, the unexpected can happen at any time. Theft and damage are risks that unfortunately cannot be entirely ruled out. However, with the loss damage waiver insurance from Central Plant Hire, you can safeguard your projects and finances against these uncertainties. It’s a small investment that provides significant protection, ensuring that you can focus on your work without the constant worry of unforeseen expenses. Don’t let a stolen machine or a damaged component derail your plans and question “why do I need the Loss and Damage Waiver?” – opt for the waiver and enjoy a stress-free rental experience.
Get in touch
Click here for all the on hire products we offer. Then please get in touch, either by calling us on 01293 851320, emailing us or by filling in our contact form and someone will be in touch. This option is especially useful if you are searching for diggers or dumpers out of hours!
We look forward to speaking with you.