Eqpme, the online heavy equipment rental marketplace, announced the beta launch of an equipment damage protection program in April 2022 that was offered as an option to rental customers and equipment owners using its platform. The insurance program is being underwritten by Great American Spirit Insurance Company in the U.S., and by Great American Insurance Company – Canadian Branch in Canada. With beta testing now complete, Eqpme is rolling out this unique program across North America as it scales quickly into new markets including Florida, Pennsylvania and Texas.
Eqpme is a rental marketplace for construction equipment, facilitating the connections between owners and renters to transact online with the click of a button. According to Eqpme CEO Alex Mascarin, “one of the biggest bottlenecks in the equipment rental industry is making sure equipment is properly insured when out on rental. By collaborating with Great American Insurance Group, we have eliminated that bottleneck and our marketplace participants can have peace of mind knowing the equipment is protected by an A+ rated insurance carrier when using the Eqpme platform.”
Eqpme has enabled equipment owners on the marketplace to seamlessly offer a loss damage waiver at checkout to their rental customers who want an easy and affordable way to meet the insurance requirements of their rental contract. Great American Insurance Group will provide insurance that protects the owner for covered damage or loss to their equipment. Claims can be reported directly to Great American by the owner or the renter of the equipment via the Eqpme marketplace.
“As a company focused on finding new ways to help our clients and their customers, we are delighted to work with Eqpme,” said Bryan Inman, Business Development, Great American Specialty Equipment Division. “By embedding our proven insurance solutions and excellent claims service in their technology, we are helping to reduce the friction that the coverage requirement can cause, allowing for fast and easy equipment rentals on the Eqpme marketplace.”