To book your rental, we will need credit card information for deposit and payment. Deposit is equal to the deductible on your Insurance Policy. If you are not using insurance, we can place a deposit in the amount of about 80% of the replacement value of the equipment.
A credit card deposit will freeze that amount on your credit card. The money will not be charged, but you will need to have that amount available in your credit limit. When using a Bank Debit Card, the bank will freeze that amount from your account. Your bank account will show the amount as withdrawn, but it is still being held by the bank.
We will typically charge the rental payment to your card on the day of pickup. Net 30 is something that we can set up, but we will still need a credit card on file and may need additional paperwork.
Once the equipment is returned to PJ, we will check it in and tell the bank to remove the deposit. Usually, this takes about 24-48 hours on their end. If you want to speed up the process, please call the credit card company/bank with your card info.
If we could sell you insurance, we would. But there are a lot of laws and restrictions involved and we are not an insurance broker. If someone offers to sell you insurance, make sure to ask a lot of questions about what it really covers.
What does everything mean on my certificate of Insurance?
Rented Equipment Coverage: This is your coverage amount for rented equipment. You will need this number to be higher than the combined replacement value of all equipment.
Deductible: In case of an insurance claim, you will be responsible for this amount. So if you have a deductible of $1000 and file a claim for $1300, insurance will only pay for $300.
Theft From an Unlocked Vehicle: Some policies include a clause that they will not cover theft from an unlocked vehicle. We require this clause to be removed. Insurance companies will ultimately remove it, but sometimes need a push from you, their client. We know that you are smart and would never leave expensive equipment in an unlocked vehicle, but you can’t be everywhere at once. PA’s can be inexperienced and accidents can happen. So we need to be covered.
Production Junction will need to be listed as the certificate holder and loss/payee:
266 E 10th, Lower Level
NY, NY, 10009
Where can I buy Rented Equipment Insurance?
There are a lot of insurance brokers and in the end, they are all backed by a few large umbrella corporations. We work with all of them, but these are the two we typically suggest:
Film Emporium: A NYC based broker and we use them for our own annual policy. You will talk to a real human to set up the policy and anytime you have questions. (914) 833-2433.
InsureMyEquipment.com: The name says it all. This system is online based and lets you pick and choose your exact coverage. This typically seems to come in less expensive for short term coverage, but you are pretty much on your own in setting it up.