Property Insurance Waiver
Rule Broadcast Systems Inc. DBA Rule Boston Camera, has elected to waive its requirement that you provide property insurance that covers equipment that you rent from Rule Boston Camera. This waiver is limited to rentals of equipment with a combined replacement cost (without deduction for depreciation) not to exceed $50,000.
In exchange for this waiver you are paying a rental surcharge equal to 15% of the net rental fee. THIS IS AN ADDITIONAL RENTAL CHARGE AND IS NOT INSURANCE. With this waiver your responsibility for loss or damage to our equipment will be limited to the first $2,500 solely for the following types of claims and conditions:
- The waiver of the lessee’s liability for direct physical damage of the rented equipment shall be limited to the following types of loss:
- fire, lightning, smoke;
- Damage that occurs during the course of normal production use;
- water damage;
- damage while in, upon, loading and unloading from any vehicle, aircraft and
- hail and windstorm;
- theft (not including theft of the equipment from an unattended vehicle);
- loss must occur in the United States of America.
- The lessee agrees to pay a $2,500 deductible for each and every loss.
- The waiver does not include liability insurance. Lessee remains responsible for ALL liability claims arising from lessee’s use of the rented equipment.
- The lessee understands that he/she should consult with his/her insurance representative
regarding all their insurance needs and that this waiver is not a substitute for the lessee
maintaining an insurance program.