** DUE TO THE COVID-19 PANDEMIC, THE OWNER GUARANTEE PROGRAM HAS BEEN SUSPENDED UNTIL FURTHER NOTICE**
The ShareGrid Owner Guarantee offers complete peace of mind to owners, for rentals 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.
Note that 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.
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 that you purchase 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 a huge amount of time and energy to security. In order to rent on the site, renters need to pass rigorous identity verification checks and provide a significant amount of identifying information.
Even so, there are cases when a renter decides to risk everything and not return the gear that 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 owner of the gear. 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 with a 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.
If you ever rent out equipment at one time which exceeds $20,000 in Replacement Value, or if you have individual listings which exceed this limit, 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.
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 out for an item up to the listed Replacement Value. The guarantee only applies to rentals up to a total of $20,000 in Replacement Value. It does not apply to listings with a Replacement Value of more than $20,000.
- Make sure all items in a package are mentioned in the listing. If they’re not in the listing, 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. You must not have been convicted of any felony offenses in the past 5 years, and you must never have had insurance cancelled, refused or declined.
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 assist you in attempting to 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 for the return of the Listing before you can make a police report. All claims of theft 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.
The ShareGrid Owner Guarantee does not apply to:
- Any listing with a Replacement Value of more than $20,000.
- Loss of use or ongoing rental fees for the time before you receive a reimbursement or replacement.
- Damage or wear and tear to the Listing, which should be claimed by the renter.
- Missing items where the renter is responsible for a reimbursement.
- Physical locations, vehicles, grip & electric trucks, props, watercraft, and aircraft.