Rental Insurance for SMARTLIFT SL 380 (Detroit Diamond Tools Coverage)

Protect your investment and your peace of mind with Detroit Diamond Tools’ SMARTLIFT SL 380 Rental Insurance. For just $75 per day, our insurance covers the machine for the entire rental period—right up until it’s returned to us. Simply select the number of days you plan to rent, and you’re fully protected against unexpected damage or loss, up to the full replacement value of the machine. No extra calls to your insurance provider, no lengthy paperwork—just fast, hassle-free coverage so you can focus on the job.

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Customer-Provided Insurance

If you choose to provide your own insurance, the SMARTLIFT SL 380 must be covered for a minimum of $60,000 under your business insurance policy. A copy of the insurance certificate naming the SMARTLIFT SL 380 as covered must be provided to Detroit Diamond Tools before pickup or delivery. Please ensure that your policy clearly states coverage for rental equipment and meets the required insured value. This option requires advance coordination with your insurance provider.

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 Choosing Our Insurance vs. Adding to Your Own Policy

Why Our Insurance is Better:

• Immediate Coverage – No need to contact your provider or wait for policy updates.
• Hassle-Free Process – Just select the rental days and you’re covered instantly.
• Full Replacement Protection – Covers up to the machine’s full value during your rental period.
• No Impact on Your Premiums – Claims do not affect your business insurance rates.

Cons of Adding to Your Own Insurance:

• Time-Consuming – Requires contacting your provider, amending your policy, and waiting for approval.
• Potential Premium Increases – Claims could raise your business insurance costs.
• Coverage Gaps – Risk of insufficient coverage if policy details are incorrect.
• Administrative Work – Must provide certificates and proof of coverage before rental.

Please Download, Fill Out and Send to SUPPORT@DETROITDT.COM

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EQUIPMENT RENTAL AGREEMENT

For SMARTLIFT SL 380 Indoor Lifting Machine

This Equipment Rental Agreement (“Agreement”) is entered into as of [Date], by and between:

Lessor: Detroit Diamond Tools
Address: 31575 Glendale St, Livonia MI 48150
Phone: 313-654-6148
Email: Support@strictlykb.com

Lessee: [Lessee’s Full Name or Company Name]
Address: [Lessee’s Address]
Phone: [Lessee’s Phone Number]
Email: [Lessee’s Email]

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1. EQUIPMENT DESCRIPTION

The Lessor agrees to rent to the Lessee the following equipment (“Equipment”):

• Model: SMARTLIFT SL 380 Indoor Lifting Machine
• Maximum Lifting Capacity: 840 lbs
• Maximum Lifting Height: 8.69 ft
• Special Features: ±4 in. sideways load displacement; narrow body width for indoor maneuverability

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2. RENTAL TERM

• Start Date: [Start Date]
• End Date: [End Date]
• Total Duration: [Number of Days/Weeks]

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3. RENTAL FEES

• Daily Rental Rate: $650 per day
• Security Deposit: $2000 (refundable upon inspection)
• Total Rental Fee (excluding deposit): $[Total Amount]

• Rental fees must be paid prior to the Start Date unless otherwise agreed in writing.

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4. TRANSPORTATION

• Lessor can provide delivery and pick-up services.
• Delivery Fee: $250
• Pick-up Fee: $250
• Additional transportation charges may apply for restricted access, remote locations, or rescheduling.

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5. TRAINING

• Lessor will provide one-time basic operational training at delivery.
• Training Duration: Approximately [30 minutes]
• Additional training can be arranged at $100 per hour.
• Lessee assumes full responsibility for safe operation after training.

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6. LATE FEES

• Late returns will be charged at $650 per day.
• Returns exceeding 1 days late may be considered a purchase, and Lessor reserves the right to recover the full replacement value.

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7. USE OF EQUIPMENT

Lessee agrees:

• To use the Equipment solely for indoor lifting within its rated capacity and height.
• Not to modify, misuse, or neglect the Equipment.
• To ensure only trained and competent personnel operate the Equipment.

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8. MAINTENANCE & DAMAGES

• Lessee is responsible for basic maintenance (e.g., battery charging, keeping equipment clean).
• Any damage due to misuse or negligence will be repaired at Lessee’s expense.
• Equipment will be inspected upon return; repair costs will be deducted from the deposit or billed separately.

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9. INSURANCE & LIABILITY

Option 1 – Detroit Diamond Tools Rental Insurance

• Lessee may purchase insurance from Lessor at $75 per rental day, covering the SMARTLIFT SL 380 for the entire rental period until it is returned.
• Coverage includes protection up to the full replacement value of the machine.

Option 2 – Customer-Provided Insurance

• Lessee may use their own insurance policy, which must cover the SMARTLIFT SL 380 for at least $60,000.
• A valid Certificate of Insurance must be provided before pickup or delivery.Policy must explicitly cover rented equipment.

Note: If no proof of insurance is provided, Lessee must use Lessor’s insurance.

• Lessor is not liable for injury, loss, or damage resulting from operation of the Equipment.

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10. TERMINATION

• Either party may terminate with [X] days’ written notice.
• If Lessee terminates early, rental fees already paid are non-refundable unless otherwise agreed in writing.

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11. GOVERNING LAW

• This Agreement shall be governed by and construed in accordance with the laws of the State of [Your State/Country].

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12. ENTIRE AGREEMENT

• This document represents the full understanding between the parties. Changes must be made in writing and signed by both parties.

When adding to your policy please give them this information

• Smart Lift: SL-380
• Serial # 3229