The rate quoted includes the Damage Waiver. Damage Waiver covers accidental damage, it does not cover theft, abuse, or misuse. Items still need to be kept dry. Damage Waiver is a rental industry standard whether renting from us or a tool at Home Depot. While not insurance, it is similar as the fee is not returned at the end of the rental. Your scheduled order email will have the terms and conditions page included and the damage waiver is covered in more detail. It is #4.