Self-Insured Customers

Some customers may have their own insurance for machines or other rental equipment. For those customers, the rate component for insurance can be excluded on Rental documents if the:

  • Customer Card has the Self-Insured toggle turned on
  • Rate Component/Item Rent Rate Component for Insurance has Usage = Insurance

The Usage setting is transferred from the Rental Rate Component to the Item Rental Rate Component but can be changed per item. Alternatively, the Usage setting can be handled directly on the Item Rent Rate Component instead of the Rental Rate Component.

Example – Create rental contract for self-insured customer

A customer has obtained insurance for their machine operators to use a rental machine. After receiving verification of their insurance, their customer is set as Self-Insured and the Usage = Insurance is defined in the Item Rent Rate Component for the machine.

When a Rental Contract is created, the rental rate component for Insurance is not included in the rental line.

Set up the customer and item rent rate component

  1. Choose the Lightbulb that opens the Tell Me feature icon, enter Customers, and then choose the related link.
  2. Locate the customer and open the card.
  3. Expand the Rental FastTab.
  4. Turn on the Self-Insured toggle.
  5. Choose the Lightbulb that opens the Tell Me feature icon, enter Machine Types, and then choose the related link.
  6. Locate the machine type and then open the card.
  7. Choose the Item Rent Rate Components action.
    Notice that there are two components: Insurance and a Return Cleaning fee.
  8. On the line for the Insurance Rate Part, select Insurance in the Usage field.

Create the rental contract

  1. Choose the Lightbulb that opens the Tell Me feature icon, enter Rental Contracts, and then choose the related link.
  2. Insert a new Rental Contract for the customer.
  3. In the Rental Billing Unit field, enter MONTHS.
  4. In the Rental Start Date field, enter 2/1/2022.
  5. In the Rental End Date field, enter 2/28/2022.
  6. In the Invoice Period field, select Month.
  7. On the Lines FastTab, enter the machine number and then press ENTER.
    Notice that only the Rate Component for the Return Cleaning fee was added; the Rate Component for Insurance was excluded for this customer/item combination.

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