ShareGrid Owner Guarantee

What is the guarantee, and what kind of protection does it provide to owners on the site?

Dave avatar
Written by Dave
Updated over a week ago

The ShareGrid Owner Guarantee offers peace of mind to owners of individual Listings that are rented out up to $20,000 in Replacement Value.

If someone rents your Listing and does not return it, ShareGrid will replace the item or reimburse you for the Replacement Value unless one of the Exclusions listed below applies to your rental. 

Note that if you have an insurance policy that covers someone renting your Listing and not returning it, you will not be eligible for the ShareGrid Owner Guarantee and will need to file a claim using your existing coverage.

All scenarios referred to in this article are for rentals with a total Replacement Value of $20,000 or under. If your Listings exceed this value, we strongly recommend purchasing voluntary parting coverage.

Why does ShareGrid offer this?

We work very hard to ensure that ShareGrid is the safest way to rent your items to other people. We use cutting-edge technology and devote much time and energy to security. To rent on the site, Renters must pass rigorous identity verification checks and provide significant identifying information.

Even so, there are cases when a Renter decides to risk everything and not return the gear they rented on the site. This scenario is known as voluntary parting. These cases are extremely rare, but when they occur, they can be devastating to the gear's owner. We want to do everything we can to reduce the impact of this kind of loss and protect our community.

Do I still need voluntary parting coverage?

The ShareGrid Owner Guarantee only protects rentals up to a total Replacement Value of $20,000, rented at any one time. This is a cumulative limit, not a per-rental limit. Individual Listings Replacement Value of more than $20,000 and a Package with multiple Listings with a combined Replacement Value of more than $20,000 are not protected under the guarantee.

Example 1: If you simultaneously rent out a Listing valued at $15,000 and a Listing valued at $10,000 (with a total cumulative Replacement Value of $25,000), the ShareGrid Owner Guarantee offers protection up to $20,000.

Example 2: If you rent out a Listing with a Replacement Value of $30,000, you are not protected against voluntary parting under the ShareGrid Owner Guarantee.

Example 3: If you rent out multiple Listings in a Package with a combined Replacement Value over $20,000, you are not protected against voluntary parting under the ShareGrid Owner Guarantee.

If you ever rent out equipment at one time that exceeds $20,000 in Replacement Value, if you have individual Listings that exceed this limit, or if you think one of the Exclusions listed below will apply to your rentals, we strongly recommend investing in voluntary parting insurance.

You can purchase this type of coverage directly through your ShareGrid account as part of an Annual policy (go to Settings / Insurance / Annual to get a live quote or purchase a policy). Policies are provided by our partner Athos Insurance, equipment coverage experts who offer some of the most competitive rates in the industry.

Eligibility

There are some steps you must take to ensure that your items are protected under the ShareGrid Owner Guarantee:

  • Set the Replacement Value accurately for each of your rental Listings. ShareGrid will only pay for an item up to the listed Replacement Value. The guarantee only applies to rentals up to $20,000 in Replacement Value. It does not apply to Listings with a Replacement Value of more than $20,000. It does not apply to Packages with multiple Listings with a combined Replacement Value of more than $20,000.

  • Make sure all items in a package are mentioned in the Listing. If they’re not, they may not be protected by the ShareGrid Owner Guarantee.

To be eligible to make a claim, you must be the person or business owner who created and verified the account on ShareGrid and maintained the Listing, and you must own the Listing. You must not have been convicted of felony offenses in the past 5 years, and you must never have had insurance canceled, refused, or declined. There is a maximum of two (2) eligible claims per 12 calendar months for each Owner account.

Making a claim

Here are the steps if you want to make a claim under the ShareGrid Owner Guarantee:

  • If your Listing is not returned on time, you must notify ShareGrid within 48 hours of the end date of the rental via email, message, or phone. ShareGrid will immediately help you recover the unreturned Listing. 

  • If your Listing is not returned within 72 hours of the end date of the rental, we recommend that you make a police report for theft by fraud or theft by false pretenses. Some states and municipalities may require you to send a written demand to the Renter to return the Listing before you can make a police report. All theft claims require 1) a copy of a filed police report, 2) confirmation of the police report filing and a criminal investigation by law enforcement, and 3) any information or footage that can help provide details of the theft for ShareGrid’s investigation of the claim. 

  • If you have your own insurance policy that covers someone renting your Listing and not returning it, you will not be eligible for the ShareGrid Owner Guarantee and will need to file a claim using your existing coverage.

Exclusions

The ShareGrid Owner Guarantee does not apply to:

  • Any Listing with a Replacement Value of more than $20,000 (Replacement Value is displayed at the time of rental).

  • Any Package with multiple Listings with a combined Replacement Value of more than $20,000 (Replacement Value is displayed at the time of rental).

  • Any unreturned Listing rentals where the Owner does not notify ShareGrid of the unreturned rental via email, message, or phone within 48 hours of the end date of the rental.

  • Loss of use or ongoing rental fees for the time before an Owner receives a reimbursement or replacement for their unreturned Listing items.

  • Damage or wear and tear to the Listing items should be claimed by the Renter. 

  • Any Listing where the Renter has filed a claim with their insurance company or coverage provider after the rental or a police report for the theft of the Listing.

  • Owners who have their own insurance policy that covers someone renting the Owner's Listing and not returning it.

  • Missing Listing items for which the Renter is responsible for reimbursement.

  • Any Listing rental where the Listing items are not personally picked up by the Renter from the Owner. Rentals are sent via postal mail, private carriers, couriers, lost in transit, seized, or picked up by someone, not the Renter listed on the rental (you must check the Renter's ID at pickup).

  • Listings include physical locations, vehicles, grip and electric trucks, props, watercraft, aircraft, one-of-a-kind items, and irreplaceable items. 

Disclaimer: ShareGrid is not an insurance provider, broker, or agent. ShareGrid is not licensed in any state or country to be an insurance provider, broker, or agent. The ShareGrid Owner Guarantee is not an insurance policy. Eligibility for reimbursement under the ShareGrid Owner Guarantee is subject to your compliance with all of the terms and obligations in ShareGrid's Terms of Service.

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