How does Damage Only coverage work?

Understanding ShareGrid’s "Damage Only" Coverage

Dave avatar
Written by Dave
Updated over a week ago

ShareGrid offers a "Damage Only" coverage option to provide peace of mind for your less expensive rentals. Here's a breakdown of what it covers and doesn’t and the associated costs.

Coverage Overview:

  • Purpose: This coverage is an affordable choice to protect specific Listings from potential damage during short rental periods. It's available for most items with a replacement value of up to $6,000.

What Constitutes ‘Damage'?

  • Coverage Area: The focus is on functional impairments. If a rental item is no longer working as intended due to an incident during the rental period, it qualifies as damage.

  • Exclusions: Cosmetic issues, such as minor blemishes or scratches, and normal wear and tear are not considered damage under this option.

The Deductible Aspect:

  • Rate: The deductible is 12% of the listed item's Replacement Value.

  • Locating Replacement Value: This information is accessible within the 'Specs' section of the Listing page, during rental checkout, within the rental invoice, and in the rental confirmation and communication thread.

  • Example: Suppose a rented item has a Replacement Value of $1,500. If there's damage during the rental and you file a claim, the deductible will be 12% of $1,500, totaling $180.

Notable Exclusions:

  • All claims undergo a thorough evaluation by ShareGrid's Claims Team.

  • Regular wear and tear like scratches or dents.

  • Damages stemming from renter negligence.

  • For a detailed list and understanding, it's advised to read the full "Damage Only" terms in Section 15 of ShareGrid's Terms of Service.

Important Disclaimer:

ShareGrid is not an insurance entity. We neither provide, broker nor represent any insurance. The "Damage Only" coverage is a special service, not an insurance policy. Every rental mandates some form of protection, and this coverage is just one of several options available, including Short Term Insurance, Annual Insurance, and 3rd Party Insurance. Adherence to ShareGrid's Terms of Service is a prerequisite for availing this coverage.

For comprehensive clarity and any queries, always feel free to contact us or consult ShareGrid's Terms of Service.

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