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Rental equipment is particularly vulnerable to theft because, by the very nature of the business, the equipment is usually under the control of someone other than the rental company. The normal risks of theft increase through thefts such as where thieves gain possession of equipment through the use of false ID. Although the liability for a loss often rests with the renter, there are occasions when the client may not have the cash or correct insurance to cover a loss. Theft reporting is also often less efficient as an additional third party is involved in the process.
To help rental companies combat these problems, NER has tailored its HELPtechSM registration services so that rental fleets can take advantage of NER’s services in the most operationally and cost effective manner.
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Fleets are able to:
- register their entire fleet through a simple download of key information such as PIN or serial number;
- place HELPtechSM decals on all registered items and premises to deter theft;
- regularly update schedules electronically to ensure that fleet details remain up to date,
So that:
- as soon as a theft is detected, NER can be notified and a full loss report added to the NER database of stolen equipment;
- through its 24-hour hotline for law enforcement, NER will be able to identify the rental company as the true owner of registered equipment if found in suspicious circumstances – even before the theft has been discovered or reported;
- thieves will see that the equipment is registered and be deterred due to the increased likelihood of detection while moving, storing or selling the equipment;
- theft deterrence and the increased chance of recovery will improve loss experience and help control the cost of risk whether insured or self-insured.
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Customer Service
In many instances the client or the client’s insurer will be responsible for covering the loss which is why a rental company will be providing a valuable service to its clients by taking proactive theft prevention and recovery steps such as HELPtechSM registration. NER will work with a rental company’s marketing operation to ensure that this benefit to the customer is clearly communicated.
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Read more about NER's Operations
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