Olympus Tool & Plant Hire have an Accidental Loss Damage Waiver (see full Terms and Conditions) for those customers who do not have Plant and Tool Hire insurance. The cost is 15% (plus VAT) of the hire proportion of the cost. The table below illustrates the levels of cover.
|VALUE OF EQUIPMENT HIRED||Deposit (if required)||Excess|
|Up to £1000||£ 25||£50|
|£1001 to £2500||£ 50||£100|
|£2501 to £5000||£ 75||£250|
The maximum coverage given any one hire is £5,000.00 from ground up (including the excess) – the customer is responsible for the amount above this (you may seek traditional insurance).
- A breaker is hired for I day the economics are as follows:
- This falls into the category up to £1,000 (£50 excess)
- Hire Cost is £22.50 (before VAT and ALDW) – ALDW is 15% of £22.50 = £3.37 Total £25.37 (this is the cost of the hire and ALDW irrespective of any loss
- There is accidental damage where the item is written off – the customer only pays excess of £50.
- An Excavator with a value of £15,000 is hired for 1 day
- This falls into the category of Value excess of £5,000
- Hire Cost is £100 (before VAT and ALDW) – ALDW is 15% of £22.50 = £15 Total £115 (this is the cost of the hire and ALDW irrespective of any loss)
- There is Accidental Damage of repairs worth £7,000 – the customer pays the £500 excess and the amount excess of the £5,000 maximum Limit – £2,000 – customer pays £2,500 as opposed to the £7,000 loss amount.
- Full Terms and Conditions
- The insurance is voluntary but recommended – please advise the sales at the point of sale whether you wish to opt-in or out
- Olympus reserves the right not to hire without the ALDW
- Olympus reserves the right not to offer the ALDW
It is not our practice to offer the ALDW with cross hire in plant and / or tools