ShareGrid Launches Revolutionary Owner Guarantee, Increasing Rental Safety and Security
ShareGrid, the largest online marketplace for film, photography and production equipment, today introduced the ShareGrid Owner Guarantee. The guarantee provides increased protection for equipment owners renting their gear on the site. All rentals for equipment up to $20,000 in value are now protected against damage, theft, loss and fraud, including voluntary parting. The additional guarantee is effective for all ShareGrid members starting August 26th, 2019, at no additional cost.
Our goal has always been to make ShareGrid the safest way to rent your equipment to other people, and today we’re excited to offer even more protection to our users. For years, we’ve been the only marketplace to offer instant coverage against voluntary parting. With the ShareGrid Owner Guarantee, we’re taking this a step further and including protection against voluntary parting automatically. Best of all, it’s completely free for all our members.
In the rental industry, ‘voluntary parting’ is the term for when someone commits fraud by renting equipment and then not returning it. This is not covered by theft insurance. In the past, only rental houses were able to purchase insurance against voluntary parting. That changed in 2014, when we partnered with Athos Insurance to become the first marketplace to offer instant voluntary parting coverage to its members, and we worked hard to inform our users about this risk. ShareGrid is still the only marketplace offering this kind of coverage for purchase instantly.
The ShareGrid Owner Guarantee now includes this kind of protection for rentals of equipment up to $20,000 in value. Users do not have to opt in, and the coverage is included automatically. We love helping creatives make extra income with their equipment, and we always try to keep costs low. That’s why we decided to launch the ShareGrid Owner Guarantee at no additional cost, so owners get extra peace of mind without having to pay anything extra.
For owners who rent out equipment valued at more than $20,000, we strongly recommend purchasing voluntary parting coverage. You can buy this directly through your ShareGrid account, as part of an Annual policy.
As always, we continue to invest heavily in security technology and personnel to keep the community safe, resulting in a voluntary parting rate of just 0.01%, the lowest in the industry.
For more information, please read our support article.