Our Damage + Theft option is designed to provide peace of mind when renting equipment, offering a Loss Damage Waiver against unexpected damages and theft during the rental period. Here's what you need to know about this option:
Highlights:
Eligibility: This option is available for most listings with a replacement value of up to $30,000. Account Loss Damage Waiver limits vary. For more information, please refer to our Account Limit support article.
Affordability: Designed as an economical option for short-term rentals.
What's it for?
Functional Damage: This option applies to damage that impacts the equipment’s functionality, meaning the item no longer works as intended because of an incident that occurred while it was rented.
Theft: applies when equipment is forcibly taken from you while in your possession, as long as there is sufficient evidence and a police report to support the incident.
Fee details if damages or theft occur:
Rate: The renter, not the owner, is responsible for a 12% fee if there is rental damage or theft. The 12% fee is calculated based on the replacement value listed on the rental's listing.
Example: If you rent an item valued at $1,500 and it incurs eligible damage, your fee 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:
Review: All damage incidents are subject to a comprehensive review by ShareGrid.
Wear and Tear: Damages such as scratches or dents resulting from regular use are not eligible.
Renter Negligence: Any damage resulting from the renter's negligence 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 include Damage + Theft coverage, Short Term Insurance, Annual Insurance, and Third-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.