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Fire Theft and Vandalism
FTV (Fire, Theft & Vandalism)
Explanation of Coverage
1) CUSTOMER’S GENERAL RESPONSIBILITY: By entering into a Holt of California (Holt) Rental Agreement (Agreement) Customer acknowledges receipt, understanding and responsibilities as stated on the front and reverse side of the Agreement. You have agreed to be responsible for any loss or damage to the Equipment, and for its return in the same condition in which received, except for normal wear and tear. This responsibility is limited to the full value of the Equipment at the time it is lost or damaged, including but not limited to Holt’s expenses, such as, loss of use, appraisal fees or recovery costs. If the Customer is deemed responsible for damage to the Equipment, the equipment may either be repaired by Holt or a company of Holt’s choosing. The cost of labor and parts of such repairs will be the prevailing shop/list rates in effect at the time of repair. In the event that an outside source is used then that cost will be applied to the repair billing.
2) FIRE, THEFT & VANDALISM (FTV): All customers renting equipment from Holt and/or The CAT Rental Store are required to maintain physical damage insurance or accept the Fire, Theft & Vandalism (FTV) Protection Plan. Any customer not providing proof of insurance will be charged an amount for the FTV equal to 12% of the gross rental amount. The FTV is not insurance; however, it does provide limited protection against accidental loss or damage to rented equipment, owned by Holt or The CAT Rental Store.
COVERED OCCURRENCES: The following are considered covered occurrences:a) Theft of equipment from Customer, provided reasonable precautions were taken to protect and secure the rented equipment, and a police report was filed.b) Damage to equipment caused by vandalism not resulting from Customer’s negligence provided a police report was filed.c) Damage to equipment caused by natural disasters such as floods, earthquakes, wildfires, or other natural disasters.
What is FTV?FTV (Fire, Theft and Vandalism) is not insurance. It is, however, limited protection against damage to equipment you have rented from Holt of California. See the inside of this brochure for complete details and limitations.
Do I Have To Purchase FTV?FTV is required for any Customer who does not have a valid Insurance Certificate on file with Holt of California at the time of rental.
What Insurance Requirements Do I Have To Meet?To avoid FTV, your insurance certificate must include the following: * Minimum of $1 Million in General Liability coverage * Minimum Physical Damage coverage on leased or rented equipment of $25,000 of the value of the equipment rented, whichever is greater. . Certificates should be mailed or faxed to: Holt of California PO Box X Sacramento, CA 95813 Attn: Terry Ratto Fax: 916-991-8269