Fire, Theft & Vandalism Coverage
As a service to our Customers, Empire offers a Fire, Theft and Vandalism Plan (FTV) that provides some limited protection (FTV rate is 14% of machine rental rate) from accidental direct physical loss of or damage to rented/leased equipment. The FTV is generally available for up to $1,000,000 of off-highway construction equipment per customer.
The FTV is not insurance. It is not a substitute for business insurance of any kind. The FTV will not be in effect if the Customer refuses to pay the appropriate fees when due. If the Customer elects to accept the FTV, the Customer will be charged on the rental invoice at current FTV rate, depending on the equipment model.
Customers who do not provide proof of physical damage insurance covering the full replacement value of rented off, highway construction equipment will be automatically charged for the FTV. The FTV will not cover the following exclusions or causes of loss, which remain the responsibility of the Customer:
- The first $5,000 of damage, or an amount equal to onemonth's rent, whichever is less. This deductible applies to each accident and each separate piece of equipment stolen or damaged.
- That portion exceeding $500,000 of damage or loss to one ormore pieces of equipment from a single occurrence or accident.
- Damage caused by overloading or exceeding the rated capacity of equipment.
- Damage to motors or other electrical devices caused by a surge in electric current.
- Damage to tires and tubes caused by blowout, bruises, cuts, road hazards, or other causes inherent in the use of the equipment.
- Damage resulting fromlack of lubrication or other normal servicing of equipment.
- Wrongful conversion by the Customer in possession of the equipment or infidelity of Customer's employees or persons to whom the equipment is entrusted, carriers for hire excepted.
- Voluntarily parting with the equipment by the Customer or by others to whomthe equipmentmay be entrusted, except carriers for hire, if induced to do so by any fraudulent scheme, trick, or false pretense.
- Loss or damage caused by use of the equipment in violation of any of the terms of the rental agreement.
- Failure to file a police report following the theft, disappearance or vandalism of the equipment.
- Loss or damage caused by failure to keep the equipment in a locked enclosure or otherwise secured when not in use.
- Loss or damage caused by intentional acts.
- Loss or damage that was, or should have been, expected due to an extraordinary application or use of the equipment.
- Delay, loss ofmarket, loss of use, loss of profit, business interruption or indirect or consequential loss of any kind.
- Customer is responsible for equipment protection until Empire picks up or customer returns to Empire's yard.