who is the insurer?

The Insurer is Insurance Ltd, which has its main office in Sydney, Australia.

insured persons

Owners domiciled in Australia who rent items via the ShareRoo platform are eligible.

insured items

The insurance covers movable items that are rented out via the ShareRoo platform and for which an insurance contribution is charged to the renter.

non-insurable items

Duration of insurance coverage

The insurance coverage applies to damage occurring between the start date and time the item is handed to the renter, until it is returned to the owner.

geographic scope

Insurance coverage is provided for damage or losses that occurs within the borders of Australia.

insured events

The following events, causing impairment of the operation of the item, are insured:

Damage and destruction due to an unforeseen external event
Damage caused by liquid
Damage caused by sand
Damage due to the effects of extreme temperature

uninsured events

Excluded are damage or losses that, regardless of their cause, are either directly or indirectly connected with

warlike events, violations of neutrality, revolution, rebellion, insurrection, civil commotion (acts of violence against persons or property during riotous assembly, riots or tumults) and the measures taken against them,
nuclear fission, nuclear fusion, radioactive material, radioactive contamination, as well as nuclear explosive devices or any type of nuclear weapon, including measures taken against these,
water from reservoirs or other artificial water reservoirs or storage,
earthquakes, volcanic eruptions and falling meteorites, as well as other celestial bodies.

Also excluded are damage and losses due to:

theft, fire and natural hazards,
which have occurred gradually or not suddenly (except due to the effect of temperature or liquid), e. g. due to the effect of light, moisture, dryness, oxidation or spoilage,
wear and tear, aging, color change, material fatigue,
which have occurred without external influence, such as internal operational damage,
vermin and rodents,
if the rented item is not used for its intended purpose,
as a result of foreclosure under debt collection law or confiscation by state bodies,
caused by pets as a result of scratching, biting and excrement,
in connection with journeys not officially authorized,
when the item is transported by third parties,
which have an optical nature.
which are covered by the warranty of the manufacturer or dealer, or which arise during the course of repair and maintenance work.

benefits

The Insurer will cover the repair or maintenance costs up to the replacement value at the time of the insured event for a partial loss or, for a total loss, the replacement value at the time of the insured event.

The replacement value is calculated according to the following tables. In any case, however, it shall amount to a maximum of 015,000 per tenancy or rental or the re-placement value declared by the insured person (the lower value is decisive).

Category: Model aircraft, drones incl. accessories

Compensation in the Event of Loss

The indemnity in the case of a total loss is calculated as follows:

In the first year after a new purchase = replacement value
In the second year after a new purchase = replacement value
In the third year after a new purchase = 60% of the replacement value
In the fourth year after a new purchase = 50% of the replacement value
In the fifth year after a new purchase = 40% of the replacement value
In the sixth year after a new purchase = 30% of the replacement value
More than six years after purchase = cash value

Category: Electronic devices incl. accessories

Compensation in the event of a loss

The indemnity in the case of a total loss is calculated as follows:

In the first year after a new purchase = replacement value
In the second year after a new purchase = replacement value
In the third year after a new purchase = 60% of the replacement value
In the fourth year after a new purchase = 50% of the replacement value
In the fifth year after a new purchase = 35% of the replacement value
More than five years after purchase = cash value

Category: Sports equipment and musical instruments incl. accessories

Compensation in the event of a loss

The indemnity in the case of a total loss is calculated as follows:

In the first year after a new purchase = replacement value
In the second year after a new purchase = replacement value
In the third year after a new purchase = 70% of the replacement value
In the fourth year after a new purchase = 70% of the replacement value
In the fifth year after a new purchase = 50% of the replacement value
In the sixth year after a new purchase = 50% of the replacement value
More than five years after purchase = cash value

Category: Other items incl. accessories

Compensation in the event of a loss

The indemnity in the case of a total loss is calculated as follows:

In the first year after a new purchase = replacement value
In the second year after a new purchase = replacement value
In the third year after a new purchase = 75% of the replacement value
In the fourth year after a new purchase = 60% of the replacement value
In the fifth year after a new purchase = 45% of the replacement value
In the sixth year after a new purchase = 30% of the replacement value
More than five years after purchase = cash value

If the replacement is not possible with a similar item, the replacement price or the cash value of an equivalent item shall be decisive.

Personal sentimental value is not taken into account. Other costs related to the insured event, such as the cost of replacing the insured property or expenses relating to obtaining a Police report, are also not insured.

The Insurer reserves the right to take recourse against the renter within the scope of statutory provisions.

Obligations in the event of a loss

Upon the occurrence of an insured event, the insured person must report the damage or loss immediately via ShareRoo’s online claim form, which is possible up to 3 days after the end of the rental period. The renter is automatically informed of the damage or loss when it is reported.

In the event of embezzlement, the insured person must report the case to the responsible police station. If the stolen or misappropriated item is recovered, the Insurer must be informed.

The insured person shall protect the claims to which they are entitled against the renter and shall assist in their enforcement by the Insurer to the extent necessary.

breach of obligations

In the event of a breach of obligations, payment of insurance benefits may be declined or the benefit amount reduced. This disadvantage will not occur if, under consideration of the circumstances, no culpable breach is on hand or the breach did not influence the occurrence and scope of the damage or loss.

Place of jurisdiction and applicable law

In the event of disputes arising from this contract, the policyholder or insured person may elect one of the following as the place of jurisdiction:

The Insurer at the headquarters of Insurance Ltd.
The Australian place of residence of the policyholder or the beneficiary.

Australian law applies.

sanctions

The Insurer will not provide any insurance benefits if, thereby, any applicable trade or economic sanctions would be violated.

How does The Insurer handle personal data?

The Insurer processes data relating to natural persons (personal data) in connection with the conclusion and performance of the contract and for other purposes. Further information on this processing (including the purposes, recipients of data, retention and rights of data subjects) can be found in The Insurer’s privacy policy.