How does Damage + Theft coverage work?

What is and isn't covered? What's the deductible?

Dave avatar
Written by Dave
Updated over a week ago

Guide to ShareGrid's Damage + Theft Coverage Option:

Welcome to ShareGrid! We're excited to have you here and even more excited to introduce our Damage + Theft coverage option, tailor-made to give you peace of mind when renting equipment.

Key Highlights:

  • Affordable coverage for listings, primarily meant for short-term protection.

  • Available for most listings with a replacement value of up to $30,000.

Breaking It Down:

  • Damage Coverage

    • Life’s full of unexpected moments. If your rented equipment gets damaged during your rental period, this coverage has your back.

    • 'Damage' means any harm that affects how the gear works. But remember, minor cosmetic marks or wear and tear from regular use aren't included.

  • Theft Protection

    • We understand the worry of renting pricey equipment. With this coverage, you're protected if your rented gear is forcibly taken while you have it. Just ensure you have solid evidence and a police report to back your claim.

  • Deductibles

    • All claims come with a 12% deductible based on the listing's Replacement Value.

    • For Instance: Renting something worth $1500? If it gets damaged and you claim, your deductible is 12% of $1500, i.e., $180. You can find each listing's Replacement Value in its 'Specs' section, during checkout, on your invoice, and in your rental confirmation.

Exceptions to Keep in Mind:

  • ShareGrid’s ace team will thoroughly review all claims.

  • Day-to-day wear and tears, like scratches or dents, aren’t covered.

  • Lost items due to your negligence or theft from a vehicle? Those are out of the coverage's scope.

  • If equipment isn’t returned intentionally, it's labeled as 'Voluntary Parting'. It's not considered theft but fraud.

For a detailed understanding, do check out Section 15 of ShareGrid's Terms of Service, where we've laid out the full Damage + Theft coverage agreement and terms.

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 + Theft coverage option is not an insurance policy. All rentals require some type of coverage, and purchasing the Damage + Theft 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 + Theft coverage option is subject to your compliance with all of the terms and obligations in ShareGrid's Terms of Service.

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