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Customers purchase loss damage waivers at the time of rent and, in exchange, get the following coverage and benefits: Covers theft, collision, hail, fire, overturns, earthquake, flood, vandalism, wind, and tornado Protects against loss of most causes of damage while equipment is on rent Waives your customer’s responsibility of providing proof of insurance Because loss damage waivers don’t cover customer abuse or equipment neglect, it’s important your renters understand their responsibility during a rental period.