Damage Waiver vs Security Deposit
In most instances the Damage Waiver Deposit will often be less than the Security Deposit. The downside of going for the cheaper Damage Waiver 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 went for the Security Deposit and did not have insurance cover in place (as this is not compulsory on deposits of £1,250 and lower) you would be held liable for the full cost of the equipment and any parts/accessories that are missing on return.
If your security deposit is £1250.00 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 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.
Please note that insurance cover will not be accepted after the equipment has left our premises and it is on its way to you. If we are unable to verify your insurance, we will not dispatch the equipment.
Payment for missing equipment and parts/accessories will be taken from your Security Deposit. Any monies still outstanding after this has been taken will need to be paid for immediately.
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 taken from your Damage Waiver Deposit. Any monies still outstanding after this has been taken will need to be paid for 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 goods.
What happens if I lose the equipment or it is stolen?
Call Hireacamera immediately on 01435 873028. If you have gone 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. In the event of damage or loss by an airline you will need to obtain a Property Irregularity Report from the airline at the airport where the damage is first discovered (i.e. the airport in which you arrive discovering the damage or loss).
If you have any questions regarding our deposit options, please contact us on 01435 873028.
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 need to log in to your account and pay on there. This must be done 7 days before your dispatch date. You should be prompted by an automated email from us.
Please note that whilst we ensure that the deposit is refunded promptly (it is typically done on the evening of the day of return or the morning after), dependant on your bank it can take up to 3 working days to appear on your statement.