Insurance / Damage Waiver

Admin Dashboard > Configuration > Rental Settings > Insurance / Damage Waiver

Configuring Insurance / Damage Waiver Settings

Purpose of Insurance / Damage Waiver Settings

The Insurance / Damage Waiver feature in the Any.Rentals platform allows businesses to manage optional or mandatory coverage for rented items. This feature is designed to offer customers peace of mind and protect businesses from unforeseen costs related to damage or loss of rental items.

This section is accessible through Admin Dashboard > Configuration > Rental Settings > Insurance / Damage Waiver and provides a range of customizable options to suit different business policies.

Settings and Options Overview

1. Enable

• Purpose: Activates the Insurance / Damage Waiver feature across the platform.
• Options:
  • Enable: Turns on the feature and makes it available during the checkout process.
  • Disable: Turns off the feature, removing it from customer-facing interfaces.
• When to Use: Enable this option if your business offers or mandates insurance/damage waivers for rentals.

2. Required

• Purpose: Makes the Insurance / Damage Waiver mandatory for all rentals.
• Effect: Customers cannot proceed without accepting the waiver.
• When to Use: Enable this if insurance is a non-negotiable part of your rental terms to ensure coverage for every transaction.

3. Hide Checkbox on Checkout

• Purpose: Removes the checkbox option for customers to opt-in or opt-out of the Insurance / Damage Waiver.
• Effect: If enabled, the waiver is either automatically included (if required) or not shown at all (if not required).
• When to Use: Use this setting to streamline the checkout process and avoid customer confusion.

4. Title

• Purpose: Defines the label or name for the Insurance / Damage Waiver as it appears to customers.
• Usage: Enter a clear and concise title, such as "Damage Waiver" or "Rental Insurance."
• When to Use: Customize this field to align with your branding or rental policies.

5. Amount Type

• Purpose: Determines how the waiver amount is calculated.
• Options:
  • Fixed: A flat fee for the waiver.
  • Percentage: A percentage of the total rental cost.
• When to Use: Choose "Fixed" for a consistent fee or "Percentage" to scale the cost based on rental value.

6. Amount

• Purpose: Specifies the monetary value or percentage for the waiver.
• Usage: Enter the amount (e.g., $10 for fixed or 5% for percentage-based waivers).
• Effect: Directly impacts the total cost customers will pay at checkout.
• When to Use: Adjust this based on the level of coverage and your business’s revenue model.

7. Is Taxable

• Purpose: Indicates whether the waiver amount is subject to tax.
• Options:
  • Yes: Taxes are applied to the waiver fee.
  • No: Waiver fees are exempt from taxes.
• When to Use: Set this according to local tax regulations and compliance requirements.

8. Include Link to View Terms on Checkout

• Purpose: Provides customers with access to the terms and conditions associated with the Insurance / Damage Waiver.
• Effect: A clickable link appears during checkout for customers to review detailed terms.
• When to Use: Enable this setting to improve transparency and build customer trust.

9. Include in Auto-Rebilled Transactions

• Purpose: Ensures the waiver fee is included in recurring billing cycles for auto-rebilled transactions.
• Effect: Automatically adds the waiver to future invoices in recurring rentals.
• When to Use: Enable this for long-term or subscription-based rentals to maintain consistent coverage.

10. Insurance / Damage Waiver Text

• Purpose: Allows customization of the description or explanation of the waiver displayed to customers.
• Usage: Use this field to clearly articulate the benefits and terms of the waiver.
  • Example: "This Damage Waiver protects against accidental damage to rented equipment up to $1,000."
• When to Use: Provide detailed yet concise information to help customers understand the value of the waiver.

How to Use Insurance / Damage Waiver Effectively

1. Enable the Feature: Turn on the Insurance / Damage Waiver option to make it available in the checkout process.
2. Customize the Title and Text: Use customer-friendly language to explain the purpose and benefits of the waiver.
3. Choose the Right Amount Type and Value: Decide between fixed or percentage-based fees based on your business model.
4. Determine Taxability: Check local regulations to ensure compliance with tax laws.
5. Link to Terms and Conditions: Provide detailed terms to improve customer understanding and minimize disputes.