We have received a few inquiries regarding Hertz Global Holdings’ recent announcement about its financial outlook. We want to make clear that we are two separate and independent public companies.
Since the spin-off in 2016, Herc Holdings Inc., an equipment rental business operating through its Herc Rentals Inc. subsidiary, has been operationally and administratively independent of Hertz. Our companies are governed by different boards of directors and we each operate in different sectors and serve different customers.
Herc Holdings Inc. recently reported first quarter results ending March 31, 2020 and provided an update regarding the impact of the COVID-19 pandemic on operations. Our financial position and balance sheet are strong, and our debt is rated B1 by Moody’s and B+ by S&P. We have ample liquidity of $1.1 billion, and our net debt totaled $2.1 billion with a net leverage ratio of 2.7x.
We are well-financed, we have ample liquidity, and we have the fleet available. We are committed to serving the equipment needs of our customers and our communities safely, efficiently and effectively.
Should you have any questions about our services or equipment for rent, please contact your customer sales representative or call 800-654-6659.
Larry Silber President and Chief Executive Officer
By accepting our rental protection plan, ProRPP, Herc Rentals will waive 100 percent of the repair/replacement cost of damaged or stolen gear. When you return damaged gear or provide a police report for stolen gear, Herc Rentals will cover the damage and replacement cost - no questions asked. This provides you with a true no worry rental experience.
Equipment eligible for ProRPP includes:
Lawn and Landscape
Plumbing & Mechanical
Concrete and Masonry
Floor and Surface Prep
Not all equipment rented by Herc Rentals is eligible for the ProRPP Program; restrictions & exclusions apply. Rented equipment is to be used by qualified operators only. Herc Rentals will deny RPP coverage if rented equipment is used by unqualified or inexperienced operators. For more details on restrictions and exclusions:
Please review the following ProRPP restrictions and exclusions:
Damaged Equipment -
When a customer rents equipment covered under the ProRPP program the customer will not be required to fill out a claim form for damages less than $10,000. If damage to a piece of equipment exceeds $10,000, the customer is required to complete an incident report form for the RPP Claims Management team to review. Claims will be subject to denial if the damage is determined to be due to:
Equipment being operated by a non-qualified non-trained operator
Striking an overhead object while in motion
Acts of God such as floods, hurricanes, wind, storms, earthquakes or fires
Overloading rated capacity
Exposing equipment to corrosive material
Damage due to vandalism
Damage to tubes and tires, tracks
Working in or near fires
Filling a reservoir with the wrong type of fluid
Filling a DEF tank with Diesel
Filling a radiator with windshield washer fluid
Situations where equipment is used outside the intended purpose or capacity of the machine
Stolen Equipment -
When equipment covered by ProRPP is stolen from a customer a valid police reportmust be provided for the ProRPP claim to be approved. If a police report is provided and Herc’s investigation determines no evidence or suspicion of customer conversion, the claim will be approved. Claims may also be denied if:
A valid police report is not provided
The customer did not safely secure the equipment
The customer left the keys in the equipment
Evidence or suspicion of conversion
*ProRPP covers the first $50K of damage or loss. For repair or lost costs over $50K, Herc will work with the customer and their insurance company. *ProRPP claims may be denied or put on hold if customer account balances are significantly past due. *The RPP and Rental contract must be paid in full for an RPP claim to be approved
Truck and Trailer Rental Protection
Don’t get stuck with a big bill. Purchase Truck and Trailer rental protection the next time you rent trucks and trailers from Herc Rentals. Please note that trucks and trailers do not fall under the ProRPP program.
Damaged as a result of motor vehicle collisions will not be covered under the Herc Truck and Trailer RPP program.
On the road motor vehicle collisions
Accidental job site incidents
Damage from decal removal
*All truck and trailer RPP claims need to have a claim form complete and provided to Herc Rentals for review. *On approved Truck and Trailer RPP claims customers are responsible for 10% of the repair or replacement cost, or $500, whichever is less. *All passenger vehicles including passenger vans and SUVs are not eligible for ProRPP or Truck and Trailer Protection Plan. *In order to rent a truck from Herc Rentals, customers must have an established credit account setup or a non-credit truck renting account. *Rented equipment is to be used by qualified operators only. Herc Rentals will deny RPP coverage if rented equipment is used by unqualified or inexperienced operators.
Need to report an incident?
Download a claim form and submit it to your Herc Rentals Representative