We understand that dealing with unresponsive renters and equipment concerns can be worrying. We're here to help you navigate any situations that may arise. Let's delve into some important information and steps you can take to protect your equipment.
Unresponsive Renters and Equipment Return:
Occasionally, you may encounter a situation where a renter fails to return your equipment on time. In such cases, it's essential to understand the difference between theft and what is known as 'voluntary parting.' Theft generally refers to situations where the equipment is stolen from the renter. On the other hand, voluntary parting occurs when a renter does not return the equipment, and it hasn't been stolen or lost. Law enforcement agencies and insurance companies typically consider this a form of fraud rather than theft. However, depending on your location, it may also be called 'theft by fraud' or 'false pretenses.'
Coverage Options for Renters:
To protect renters and equipment owners, ShareGrid offers multiple coverage options for renters when making a rental on our platform. Most of these options cover theft, which provides security when equipment is stolen from the renter.
Handling Voluntary Parting:
It's important to note that no renter's policy covers voluntary parting, as no insurance company will provide coverage for fraudulent activities. Though voluntary parting incidents are extremely rare (less than 0.01% of rentals), we understand your concern as an equipment owner.
Protecting Your Gear:
If you are worried about the possibility of voluntary parting, we recommend considering 'voluntary parting coverage' under your own insurance plan. If you don't have insurance for renting out equipment or need voluntary parting coverage, our insurance partner, Athos Insurance, can assist you in obtaining the proper protection.
Should You Worry About Voluntary Parting?
We take fraud prevention seriously at ShareGrid, and your peace of mind is our priority. To help ensure a safe community for all, we have implemented several critical security and safety measures. These measures include:
Requiring renters to upload a copy of their government-issued photo ID.
Verifying the validity of the payment card used for the rental.
Conducting two-step phone verification to ensure renters can be reached through our system.
Encouraging renters to purchase coverage to safeguard 100% of your equipment's replacement value. If they have third-party insurance, we directly verify the coverage with the insurance company.
Getting to Know Renters Better:
Even with these safety measures in place, it's understandable that you want to know more about the people renting your equipment. We encourage you to:
Check their work experience and explore links on their ShareGrid profile.
Look for mutual friends or connections on social media platforms.
Feel free to ask for references if you'd like additional reassurance.
Consider renting to individuals with previous reviews on our platform.
Stay in Touch:
Please contact us if you have concerns about a renter or a specific rental. Remember, you're never obligated to proceed with a rental if you feel uncomfortable.
At ShareGrid, we strive to make your renting experience as smooth and secure as possible. Your trust in our community is crucial, and we're here to support you every step of the way. Happy renting!