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Damage Waiver vs Security Deposit

In most instances the Damage Waiver Deposit will often be less than the Security Deposit. The downside of opting for the reduced Damage Waiver amount is that you are not covered for accidental loss or theft and would be liable for the full cost of the equipment and parts/accessories if this were to happen.

If you opted for the Security Deposit and do not have insurance cover in place (as this is not compulsory on deposits of £1,250 and lower) you will be held liable for the full cost of the equipment and any parts/accessories that are missing on return.

Security Deposit

If your security deposit is £1,250.00 or above (this equates to the full value of the equipment being £5,000 or above), insurance cover is compulsory. You will need to provide us with a copy of your own insurance policy – this must state that you are covered for hired-in goods and must cover the total replacement value of the hired equipment. You can check the value of the equipment by calling or emailing us. If you have placed your order already you will find the insurance value in the top left-hand corner of your invoice. We will have to verify your insurance policy before any equipment can be dispatched, please ensure that you have given your insurance company authorisation to speak to us.

If you do not already have cover in place, see below for an optional supplier.

 Performance Film & Media

Please note that insurance cover will not be accepted after the equipment has been dispatched from our premises. If we are unable to verify your insurance, we will not dispatch the equipment.

Payment for missing equipment and parts/accessories will be held from your Deposit. If the cost of missing/damage parts exceed your deposit, the outstanding balance will need to be paid in full immediately. 

Damage Waiver

The Damage Waiver covers you for accidental damage to the equipment during your hire. It will NOT cover you for any loss or theft and you will be held liable for the full cost of the equipment and any parts/accessories that are missing on return.

Payment for missing equipment and parts/accessories will be held from your Deposit. If the cost of missing/damage parts exceed your deposit, the outstanding balance will need to be paid in full immediately. 

 

Hiring Equipment valued over £15,000?
If you are hiring equipment with a value of over £15,000, you will not be able to opt for our damage waiver and will have to pay the Security Deposit and provide us with a copy of your own insurance policy covering hired in equipment.

 

Equipment value under £5000.00

Equipment value over £5000.00

Equipment Value over £15,000

Security Deposit

Damage Waiver

Own Insurance

Compulsory

Compulsory

When is the Security Deposit/Damage Waiver payment due?

If your hire is due to be dispatched within the next 7 days, you will be required to pay the deposit immediately. You will be prompted to do this once you have paid for your hire. If it is more than 7 days, you will receive an email prompting you that the deposit is due and by following the link you can settle the balance due. 

Please note that whilst we ensure that the deposit is refunded promptly (it is typically processed in the evening on the day of return or the morning after), dependant on your bank it can take up to 3-10 working days to appear in your account.

 

What happens if I lose the equipment or it is stolen?
Call Hireacamera immediately on 01435 873028. If you have opted for our Damage Waiver you will need to cover the full cost of the lost equipment immediately.

Please note that in the event of any loss or theft, the incident must be reported to the police immediately and a crime reference number obtained. If the equipment is damaged, you should report upon arrival at the airport. Most airlines have a dedicated baggage desk within the baggage claims area. You may receive a Property Irregularity Report (also known as PIR.) You will also need to put in a written claim to the airline within seven days and send Hireacamera proof of this. Having a PIR is no guarantee that the airline will accept your claim.

 

If you have any questions regarding our deposit options, please contact us on 01435 873028.