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Understanding ShareGrid’s "Damage Only" Coverage
Understanding ShareGrid’s "Damage Only" Coverage

Overview of Damage Only Coverage

Dave avatar
Written by Dave
Updated over a week ago

ShareGrid’s "Damage Only" coverage offers a cost-effective way to protect your rented equipment against functional damage during the rental period. It's designed specifically for items with a replacement value of up to $6,000, making it ideal for less expensive rentals.

What is Covered?

  • Functional Damage: This coverage applies to damage that affects the equipment’s functionality, meaning the item no longer works as intended because of an incident that occurred while it was rented.

  • Eligibility: This coverage is available for most listings with a replacement value of up to $6,000. Account Damage Waiver limits vary. For more information, please refer to the coverage limit support article.

  • Exclusions: The coverage does not include cosmetic damage such as minor blemishes or scratches, nor does it cover normal wear and tear.

Deductible Details:

  • Rate: There is a 12% deductible on the replacement value listed.

  • Example: If you rent an item valued at $1,500 and it incurs eligible damage, your deductible would be $180.

  • Finding Replacement Value: The replacement value can be found in the 'Specs' section of the listing page, during the checkout process, on the rental invoice, and within the rental confirmation and communication threads.

Important Exclusions:

  • Claims Review: All damage claims are subject to a comprehensive review by ShareGrid's Claims Team.

  • Wear and Tear: Damages like scratches or dents from regular use are not covered.

  • Renter Negligence: Any damage resulting from negligence by the renter is also excluded.

Further Information:

For complete details about what is and isn’t covered, including all exclusions and the claim process, please refer to Section 15 of ShareGrid’s Terms of Service. This coverage ensures both renters and owners can feel secure about protecting rented equipment, focusing on significant damages that impact the items' functionality. If you have any questions or need assistance with a claim, please do not hesitate to contact our support team.

Disclaimer: ShareGrid is not an insurance provider, broker, or agent. ShareGrid is not licensed as an insurance provider, broker, or agent in any state or country. The Damage Only coverage option is not an insurance policy. All rentals require some type of coverage, and purchasing the Damage Only coverage option is just one option. Other coverage options are available, including Short Term Insurance, Annual Insurance, and 3rd Party Insurance. Eligibility for coverage under the Damage Only coverage option is subject to your compliance with all of the terms and obligations in ShareGrid's Terms of Service.

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