Loss Damage Waiver
Save money with our Loss Damage Waiver today! Premier offers LDW to its customers to cover the trailer in the event of a loss or damage from a covered peril. For companies that schedule insurance, this value-added service provides the coverage you need without having to schedule and unschedule insurance for each rental. And claims are never reported to your insurance provider.
What's in it for you
- Competitive rates
- Reasonable deductibles
- Charges stop as soon as rental or lease is terminated
- In the event of a casualty, trailer values are always covered in full
- In the event of a claim, rental charges stop when the deductible is paid
- We handle the claim without going through your insurance company
- Fixed physical damage rate for the term of the lease
What does LDW cover?Direct physical loss or damage caused by a covered peril, including:
- Collision while moving
- Damage that is the result of a storm or tornado
- Collision that occurs while standing
- Theft of trailer or destruction due to fire
- Recovery of unit, towing and storage – $5,000 maximum
- In general, if a police report gets generated, it’s usually covered
What is not covered by LDW?
- Damage that is the result of loading and unloading freight
- Damage or loss due to flood (including storm surge or mud slide)
- Loss resulting from a nuclear hazard, military action, civil authority or earth movement
- Trailer cargo
To be eligible for this program, customers must comply with all of the following.
- Trailer Tracking must be installed on the equipment.
- Forward a copy of the police report of any loss or damage to any unit of equipment within 72 hours after occurrence.
- The occurrence was not the result of customer's negligence and/or failure to maintain proper care and control of the equipment.
- Damage or casualty loss of the equipment must have occurred in the United States.
- Customer must be in compliance with all terms and conditions of the lease, including being current on all use charges.
- Additional documentation may be requested by Premier.
- Customer is responsible for the deductible value as outlined in the lease.
Use charges will continue to accrue with regard to the equipment until the customer has paid the required deductible. LDW shall terminate immediately upon any default by the customer under the lease. Premier, in its sole discretion, may discontinue providing LDW to the customer upon ten (10) days prior written notice.
In order to get LDW coverage, Premier must be notified of a covered loss within 72 hours of the incident. LDW does not replace a customer’s insurance, they will still be required to carry liability insurance per our terms and conditions. However, LDW does stand in the place of a customer’s physical insurance coverage, should a covered loss occur.