We work hard to ensure the Lend Me It community is a safe and secure environment for Lenders to feel comfortable when lending out their items to Renters. However, we are aware that sometimes things happen that are outside of our control. That is why we have created the Lend Me It Guarantee. If for any reason your rental item is lost, stolen or damaged and you are unable to recover reimbursement from the Renter, we have you covered. Our Terms and Conditions of Use state that the Renter is responsible for reimbursing you (the Lender) for any damage or loss up to the full replacement value of your rental item. Our Lend Me It app allows you to charge the Renter’s credit card for damages or loss at the time the item is scheduled to be returned. However, if for some reason you are unable recover this reimbursement, Lend Me It will personally reimburse you for any unrecoverable damages up to the full replacement value of your item, not to exceed $3,000.
The specific terms and conditions of the Lend Me It Lender Guarantee are as follows:
- We will reimburse you (the Lender) for any unrecoverable damages to or loss of your item up to the full replacement value of your item, not to exceed $3,000 USD.
- You must fill out and submit a Loss Claim Form within 48 hours after the end of the applicable rental period. If you have any questions about how to fill out the Loss Claim Form, please email us at firstname.lastname@example.org.
- Upon our request, you will need to provide a copy of a police report if your item was stolen or never returned by the Renter.
- The listing of your item on the Lend Me It app will need to include accurate, complete, and up-to-date photos of the condition of your item at the time of rental. You must also be able to show us the condition of your item prior to rental and its condition after rental for us to determine the exact nature of the damages.
- You must be in compliance with all of the terms of Lend Me It’s Terms and Conditions of Use and Stripe’s (our credit card payment processor) Connected Account Agreement.
- The Lend Me It Lender Guarantee only covers items specifically included in your listing. Any items not specifically included will not be covered.
- The amount of our reimbursement to you will be reduced by the amount of any insurance proceeds collected by you with respect to your damaged or lost item.
- Lend Me It reserves the right to determine the replacement value of any item for which you claim reimbursement under the Lend Me It Lender Guarantee.
- Lend Me It reserves the right to make a determination about whether you are entitled to be reimbursed based on the coverage and eligibility requirements set forth above, any information provided by you and the Renter during the online dispute resolution process, or any other information Lend Me It deems relevant and appropriate under the circumstances. This Guarantee is intended to reimburse legitimate claims in order to provide comfort and security to our Lenders. If we determine a Lender is not being truthful about a claim, we will deny the claim.
Disclaimer: Please note that Lend Me It is not, and is not licensed to be, an insurance provider, broker, or agent. The Lend Me It Lender Guarantee is not an insurance policy.