How does Damage + Theft coverage work?

ShareGrid’s Damage + Theft coverage option offers an affordable way to cover a specific Listing for a short period of time against damage or theft. It's available for most Listings up to $30,000 in replacement value.

Here are the details.

Damage

We know that accidents happen. The Damage + Theft coverage option applies to damage that occurs during your rental.

'Damage' is anything that impairs the functionality of the gear. It does not include cosmetic blemishes or scratches, or regular wear and tear.

Theft

People are often concerned about theft when renting equipment.

As a renter, the Damage + Theft applies if someone forcibly steals rented equipment while it's in your possession, provided there is sufficient evidence and a police report.

This coverage includes theft from locked vehicles.

Deductible

All claims under the Damage + Theft coverage option are subject to a deductible of 12% of the Replacement Value of the listing. You can view the Replacement Value of every listing in the 'Specs' section on the Listing page, in the cart when you're requesting your rental, in the rental invoice, and in the rental confirmation and messaging thread.

Example: You rent a listing with a Replacement Value value of $1500 using the Damage + Theft coverage option. If damage occurs during the rental and you make a claim, your deductible will be 12% of $1500, which is $180.

Exclusions

All claims are subject to review by the ShareGrid Claims Team. Please read the full Damage + Theft coverage option agreement and terms, including the coverage exclusions, in Section 15 of ShareGrid's Terms of Service.

The Damage + Theft coverage option does not cover normal wear and tear (including scratches, scuffs, dents, or other less significant damage), or any damage or loss that results from the negligence of the renter.

Theft claims require sufficient evidence, and a police report. All claims will be thoroughly investigated. This coverage does not apply to thefts from unlocked vehicles.

This coverage does not extend to situations where the renter does not return equipment. This scenario is known as 'Voluntary Parting', and is considered fraud rather than theft.

Please read the full Damage + Theft coverage option agreement and terms in Section 15 of ShareGrid's Terms of Service.

Disclaimer: ShareGrid is not an insurance provider, broker, or agent. ShareGrid is not licensed in any state or country to be an insurance provider, broker, or agent. The Damage + Theft coverage option is not an insurance policy. All rentals require some type of coverage, and the purchase of the Damage + Theft coverage option is just one coverage 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.