All owners are automatically covered, up to $20,000, for free
Since 2015, tens of thousands of filmmakers have safely rented gear to and from each other on KitSplit. Thanks to our investment in trust and safety, 99.98% of KitSplit rentals go without a hitch.
We are taking our dedication to gear protection even further with the launch of the KitSplit Owner Guarantee. The Owner Guarantee covers all rentals of equipment up to $20,000 for damage, losss, theft and fraud, including voluntary parting. Alongside KitSplit Instant Insurance and Damage Waiver, the Owner Guarantee offers owners ultimate peace of mind.
How the Owner Guarantee Works
The KitSplit Owner Guarantee protects all KitSplit gear owners from theft and fraud on all rentals of gear worth up to $20,000 – at no additional cost.
The owner guarantee is free for every rental under $20k, every time. Whenever a renter rents gear worth up to $20,000, the Owner Guarantee automatically covers the owner. No opt-in necessary. More details on how the program works at kitsplit.com/owner-guarantee.
The Owner Guarantee closes a major insurance loophole that has plagued the rental industry for years. Industry standard gear rental insurance purchased by the renter and accepted by rental houses and rental platforms does not cover fraud or theft. This is termed “voluntary parting” in the insurance industry. KitSplit launched the Owner Guarantee to cover these rare (but painful) exclusions. With this KitSplit becomes the first company in the industry to cover voluntary parting for all owners.
We put together this handy comparison chart to help you understand the various insurance options available on KitSplit and other rental resources:
|KitSplit Damage Waiver||KitSplit Instant Insurance||KitSplit Owner Guarantee||Other Marketplaces’ Damage Waiver||Other Marketplaces’ Insurance||Third Party Insurance|
|Minimum Premium||$5||$125||Free||$7||$225||Depends on Provider|
|MaxCoverage||$10,000||$250,000||$20,000||$20,000||$750,000||Depends on Provider|
|Minimum Deductible||$500||$500||20% of Gear Value||12% of Gear Value||$250||Depends on Provider|
|Instant Certificates||Not Needed||Yes||Not needed||Depends on Provider||Depends on Provider||Depends on Provider|
|Max Rental Days||365||365||Unlimited||Up to 30||Unlimited||Depends on Provider|
|Depends on Provider|
|Loss byRenter||Yes||Yes||No||Depends on Provider||Depends on Provider||Depends on Provider|
|Theft from Renter||Yes||Yes||No||Yes||Yes||Depends on Provider|
|Theft from Unlocked Vehicle||No||Optional||No||No||Optional||Depends on Provider|
|Theft from Unattended Vehicles||No||Yes||No||No||Optional||Depends on Provider|
|Wear & Tear||No||No||No||No||No||No|
|Underwater Use||No||No||No||No||Optional||Depends on Provider|
|Regional Coverage||GlobalOptional||GlobalOptional||US Only||US Only||Global||Depends on Provider|
|Liability||No||No||No||Optional||Optional||Depends on Provider|
|Loss of Use||No||Optional||No||No||Optional||Depends on Provider|
|Serviced By||KitSplit||Heffins Insurance||KitSplit||Depends on Provider||Depends on Provider||Depends on Provider|
“Reliable the Whole Way”
KitSplit’s users are excited about the Owner Guarantee. Russell Ford, a long time KitSplit member and film producer explained it well: “Renting out your personal gear on share type services can be a nerve wracking experience. As an owner who’s rented out my gear on KitSplit for years, KitSplit has been reliable the whole way.”
“Now with voluntary parting coverage provided by KitSplit, there are absolutely no worries.” He added, “The platform is easy to use, payments come quickly and the users are incredible people. I can’t recommend renting gear through KitSplit enough and am thrilled to hear about this new launch.”
As creatives, we are uniquely community driven. It’s part of the reason why the KitSplit platform is so powerful; filmmakers help filmmakers. Community is in our DNA.
That’s why KitSplit is launching the Owner Guarantee. We will stop at nothing to help our members. That is what KitSplit is all about.
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