Owner Guarantee
Owner Guarantee
OWNER GUARANTEE
Updated as of January 14th, 2024
Our Terms of Service and Privacy Policy apply to this guarantee.
1. What is Covered?
1.1. We will guarantee your listed Items against damage occurring during the period of coverage and in the course of a rental booking. Each Item is covered up to its listed replacement value as agreed upon in the initial Item listing; provided, however, that such value does not exceed the maximum amount of $3,000 USD and meets all of the criteria set forth in this document.
1.2. We will not guarantee compact equipment (compact track loader, wheeled skid steer, mini excavators, backhoes, tractors), heavy earthmoving (excavators, wheel loaders, dozers, water trucks), lifts and aerials (forklifts, scissor lifts, articulating boom lifts, straight boom lifts, towable boom lifts), surveying equipment, or golf carts, as the purchase of additional coverage is required as noted in our Terms of Service.
2. What is not covered? We will not make any payment for:
2.1. Damage
2.1.1. caused by mechanical and/or electrical fault or breakdown;
2.1.2. caused by inherent defects (e.g. defects caused by corrosion, pest infestation or vermin, mold, humidity, extreme temperature);
2.1.3. caused by previous incidents of damage (e.g. underlying structural weakness from previous impact; for the avoidance of doubt "previous" means prior to the rental in which the problem occurs);
2.1.4. caused by previous alteration (e.g. extension, cleaning, repair, renovation, restoration or similar process), misuse and faulty workmanship or the use of any faulty materials;
2.1.5. caused by wear and tear; for the avoidance of doubt, "wear and tear" is minor damage that occurs during the normal and proper usage of the Item that does not affect the functionality of the Item;
2.1.6. which cannot be proven to have occurred during the rental period;
2.1.7. caused to sensitive, delicate, or fragile Items that have not been rented with appropriate casing or protective cover (e.g. lens caps, travel cases);
2.1.8. caused by neglect or a failure to regularly service or maintain an Item;
2.1.9. caused to Items that are out of circulation and classified as “vintage”;
2.1.10. that is minor superficial or cosmetic damage that does not affect the functionality of the Item (e.g. small dents, scratches);
2.1.11. caused as a result of war, terrorism, riot or civil unrest, national or state emergency, disease or natural disaster (e.g. flood, earthquake, hurricane, fire, explosion, power surges or failures, epidemic or pandemic);
2.1.12. to flat tires or punctures of pneumatic (soft) tires on electric scooters.
2.2. Amounts owed due to late returns or from work you were unable to fulfil due to the temporary absence of a functioning Item;
2.3. Incidents of public or product liability (e.g. if any person or property is injured and/or damaged as a result of your equipment during a WEquip rental);
2.4. Real estate, campervans and motorhomes, people, persons or services, chemicals, liquids, consumables or anything that can be reasonably classified as a weapon.
2.5. Items rented out while the claim on them is pending.
2.6. Any Items handed over to a third party which is not the verified Renter themselves.
3. Who is eligible to claim on this guarantee? You are eligible to claim on this guarantee if you meet all of the following criteria:
3.1. You are the person who created the account on WEquip which rented out the Item in question.
3.2. You uploaded the correct verification documents when requested.
3.3. You haven’t been convicted of, or charged with, any offense other than minor traffic offences in the past 5 years.
3.4. You have never been subject to a civil, summary, consent or default judgement, participated in or qualified for a national debt relief program or a state or federal debt forgiveness program, or a voluntary or involuntary bankruptcy proceeding.
3.5. You have never had insurance cancelled, refused or declined or had any special terms imposed.
3.6. You have not made more than 2 insurance claims in the past 5 years.
3.7. You have not delivered or released the Item(s) until the transaction has been approved by the WEquip Verification process.
3.8. You must only deliver or release the Item(s) to the person verified to borrow such Items by WEquip. We cannot guarantee rentals that were delivered or released to any third parties.
3.9. You are in compliance with all of the terms of this guarantee.
4. How much will we pay?
4.1. Subject to the limitations set forth in this guarantee, we will pay for the cost of repair, replacement value, or the original value with any Item depreciation applied, whichever is less. The "original value" is determined by the price you paid for it and must be evidenced by you (e.g. with a proof of purchase). Depreciation is determined by the Claims Team.
4.2. It is at the discretion of our Resolutions Team to determine if something can be reasonably repaired or is deemed "irreparable". If the Resolutions Team cannot easily determine this, then you will be asked to seek a 3rd party appraisal from a reputable repairer.
4.3. The Claims Team will determine when it is appropriate to initiate the Claims process, which varies by case. As the Renter is liable for the Items that they rent according to the Terms of Service, compensation must be sought from the Renter by the Resolutions Team before the Claims Team will consider initiating the Claims process.
5. What are your obligations?
5.1. We will not make any payment under this guarantee unless you as the Owner:
5.1.1. make a demand against your Renter seeking compensation for any damage, loss or theft of your Items during the rental period;
5.1.2. in the case of theft, report the incident to the police as soon as reasonably possible; and obtain a crime reference / police report number from them;
5.1.3. include each Item for which you're making a claim in your original listing which the Renter used to rent out the Items;
5.1.4. ensure the "Estimated Value" is reasonable accurate. For the avoidance of doubt, "reasonably accurate" is within 10% of the value of your claim.
5.1.5. provide us with the appropriate documentation to support the claim, including but not limited to:
5.1.5.1. an itemized breakdown of all Items that have suffered damage, loss, or theft;
5.1.5.2. evidence of the value when you purchased the Items;
5.1.5.3. serial numbers on Items (particularly electronics);
5.1.5.4. photos or videos of the Item(s) taken immediately (and no more than 24 hours) before the rental to prove they were in your possession undamaged at that time;
5.1.5.5. in the case of damage, photos or videos taken immediately (and no more than 24 hours) after the rental to prove the damage happened during the rental and not during your own subsequent use;
5.1.5.6. in the case of damage, we may require assessment by a third party of WEquip’s choice. Your claim cannot be processed until that assessment is made;
5.1.5.7. in the case of damage, we may require proof of regular servicing for Items that are delicate, sensitive, fragile or in the event more than 5 years have elapsed since their date of manufacture.
5.1.6. do not post on social media, online, or make public information about your claim before the claim process has been completed.
5.2. If the Items are owned by a business or a professional, you/they must have valid underlying insurance in place covering the Items and we will ask you to first try to claim on your existing insurance before you can proceed with a claim on this guarantee. If this proves unsuccessful, you will need to provide us with written evidence that the insurer(s) declined the claim, in order to claim on this guarantee.
5.3. If your Item is covered by a warranty from the manufacturer or supplier, you must attempt to use this to cover the repair or replacement before you can proceed with a claim on this guarantee. If this proves unsuccessful, you will need to provide us with written evidence that the manufacturer or supplier declined the claim, in order to claim on this guarantee.
5.4. You must inform us as soon as possible, and in any event within 24 hours of the end date of the rental of any incident which you may need to make a claim for under this guarantee.
5.5. You must give us all assistance which we may reasonably require to pursue recovery of the Items themselves, and thereafter of the amounts owed to us by the Renter.
5.6. Provide all information required for the claim within 3 months of starting the claims process. Within 3 months of the start of the claims process, we must receive all information including, but not limited to: proof of purchase, any other evidence required as per the requirements of the Owner Guarantee and the Owner's bank account details. After 3 months have elapsed, your claim will be closed and cannot be reopened.
5.7. Fraud
5.7.1. If you or anyone entitled to coverage in respect of any claim or loss, or anyone on behalf of you or such other person, tries to deceive us by deliberately giving us false information or making a fraudulent claim under this guarantee then:
5.7.1.1. we shall be entitled to refuse to make any payment under the guarantee in respect of any claim made or any loss, which shall not belimited to the claim in question but inclusive of all future and ongoing claims;
5.7.1.2. You must reimburse all payments already made by us relating to claims made or losses occurring after the date of any fraudulent act or claim or the provision of such false information;
5.7.1.3. we shall be entitled to exercise any and all legal rights and remedies for the act;
5.7.1.4. your use of the platform will be permanently suspended.