Loss Payee

Adding a Loss Payee

• When renting equipment from a rental house, individual, company or location, you will be required to list that party as a “Loss Payee” on your insurance policy.
• The Loss Payee designation guarantees that if a claim is filed for their equipment while in your possession, they will be the party to which payment is remitted.
• “Loss Payee” designation only applies to property policies (also known as Inland Marine policies) such as the Rented Equipment policy.
• You can do list your vendor as Loss Payee by purchasing a rented equipment policy. After policy purchase, you will have access to generating certificate of insurance through your Dashboard at InsureMyEquipment.com.
• To issue a COI, you’ll need the following information from your vendor:
  • Company Name:
  • Company Address:
  • Email Address:

Please Note: You can only list a company as Loss Payee if you have ‘Rented Equipment’ coverage added to your policy.