ShareGrid lets you use your own third-party insurance or someone else's policy (such as a production company) to cover your rentals, as long as specific requirements are met. This guide guides you through the eligibility process, uploading your policy, and finishing the verification.
Eligibility Checklist
Before submitting your insurance policy, confirm the following:
Your policy must include off-premises coverage for "rented equipment from others."
Policies such as homeowners’, renters’, or general liability are not accepted.
If you're unsure, contact your insurance provider for clarification.
For drone rentals, your policy must explicitly include drone hull coverage to ensure protection against in-flight damage.
Verification Process for Personal Insurance
Sign in to ShareGrid
Go to Settings > Insurance > Third Party
Click Setup Third Party Insurance
Provide the required policy information and include the insurance agent’s email address. Omitting this information may necessitate resubmitting your application.
Once you provide the details, our team will contact your insurance provider to verify the policy's coverage limits and effective dates.
ShareGrid will email your insurance provider to confirm:
Off-Premises Rented Equipment Coverage Limit.
Policy effective dates. Use your insurance agent or provider's business email address when uploading the policy details for verification.
Timeline: Verification typically occurs as soon as we receive confirmation from the insurance company, which may take 1–2 business days but is often completed sooner. Once approved, you'll get a confirmation email.
Note: One insurance policy can cover multiple rentals simultaneously, provided the coverage amount is sufficient to cover the total replacement value of all rented items.
Using Someone Else’s Insurance (e.g., Production Company)
Steps:
Sign in to ShareGrid
Go to Settings > Insurance > Third Party
Click Setup Third Party Insurance
Fill in the required policy information and indicate that it belongs to another entity by entering the policy owner's (the insured's) name and email address when prompted.
Clearly indicate whether the policy owner is an individual or a business entity. Use the business name if applicable, and double-check the accuracy of the provided details to avoid delays in the verification process.
What Happens Next:
Once the insurance company verifies coverage, we will email the policy owner for written authorization.
The policyholder must approve your use of their insurance
ShareGrid will verify:
Dates of Authorized Use
Once approved, you will get a confirmation email.- In case of delays or verification issues, ensure the insurance agent's contact details are current and accurate. You can also contact ShareGrid support for assistance.
To share a Certificate of Insurance (COI) while acting on behalf of someone else, ensure that the policy owner’s information is correctly entered, including full name and email address.
Double-check all details, particularly when distinguishing between individual and business policies, to avoid common mistakes such as incorrect email addresses or misused names.
How to Handle and Share Certificates of Insurance (COIs) for Verification Purposes
When acting on behalf of a client for rental scenarios, managing Certificates of Insurance (COIs) requires attention to detail. Below are the guidelines to ensure accurate handling:
Sharing a COI (for ShareGrid verification purposes only)
Enter the policy owner’s details, including the name and email address. Use the business name for policies tied to businesses.
Complete any additional required fields, like the insurance agent’s contact details, to finalize the COI submission.
Common Mistakes to Avoid
Entering incorrect contact information or using your personal name for business policies can lead to errors and delays. Please confirm details before submission. By adhering to these guidelines, COIs can be shared efficiently and without complications.
After Verification
You can now use your verified insurance for rentals on ShareGrid
Be sure your policy stays active and covers all rented items for the full rental period
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Need Help?
If you have any questions or need assistance, please don't hesitate to contact ShareGrid's support team.
Disclosure: This communication is on behalf of ShareGrid Platforms, LLC or its affiliates (“ShareGrid”). This communication is for informational purposes only and contains general information only. ShareGrid is not rendering legal, financial, accounting, business, tax, or other professional advice or services by means of this communication. This communication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your interests. You should consult a qualified professional advisor. ShareGrid does not assume any liability for reliance on the information provided herein.