Insurance

Kit hirers will be responsible for the full replacement value of the kit they hire. You should protect yourself by taking out insurance to cover this cost. If items are lost or damaged, you will have to pay for them.

In order to rent items over a replacement value of £2,000 you will need to take out a hired-in insurance policy. The cost for this is roughly about half a percent of the replacement value.  So for £3,000 worth of kit, expect to take out insurance at a cost of about £15.

You can insure yourself to rent kit in a variety of ways. You may already have an annual policy which covers you for hired in equipment, as long as the value of the items you are hiring on mykitplace.com does not exceed the value of your insurance then you could use this policy. Alternately you can get short-term insurance to just cover the value and duration of the job in hand. This is especially useful if you have some high-value items that you intend to rent.

You can upload a copy of your annual insurance to your profile on mykitplace.com – this way kit owners can review this directly from your profile.  They will be able to see if MyKitPlace has verified the policy. You may still be asked to supply a copy of your policy document for the Owner to check.

If you are supplying a short-term insurance policy, you must include the policy document in your rental request to the Owner so that they can be satisfied that it is sufficient to hire their kit. Again you can upload this to your profile and have it verified with MyKitPlace. You can also attach and send documents via the internal message service.

NOTE:

When you are applying for short-term insurance the policy needs to cover the Kit Owner directly. MyKitPlace provides the platform for the hire to happen but the transaction and the hire contract is between the Kit Hirer and Kit Owner directly. If you need the full name and/or company name of the Owner please feel free to ask MyKitPlace for help: info@mykitplace.com

 

If you require short-term cover we recommend the following insurers who all specialise in video equipment cover:

Performance Film & Media Insurance (part of Lark Insurance): http://www.performance-insurance.tv/

Allan Chapman and James (now part of Integro): http://www.acjltd.co.uk/

Aaduki Insurance: http://www.aaduki.com/

Essex Insurance Brokers: http://www.essexinsurancebrokers.com/film-and-arts-insurance

 

Was this article helpful?

Related Articles

Leave A Comment?