Insurance

Gear rentals in Australia and New Zealand are covered for third party liability, theft and loss by a $10m 3rd Party Liability policy and $10k General Property Liability policy.

Top Rated Insurance

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Quipmo Insurance

Quipmo is proud to have secured insurance to provide peace of mind whilst you complete a rental.

While you’re unlikely to experience any injury or property damage during a rental, we understand the need for protection. That’s why we’ve worked closely with leading insurance brokers to provide the following coverage:

 

  • Policy: Public and Products Liability Insurance
  • Coverage: All rentals completed with Quipmo in Australia and New Zealand are covered by a $10,000,000 3rd party public and products liability insurance policy placed by Lloyd’s approved coverholder, PEN Insurance Pty Ltd.*
  • Limit$10,000,000
  • Insured: Quipmo, Owners and Renters
  • Excess: $1,000 per claim

  • Policy: General Property Insurance
  • Coverage: All Gear rented through Quipmo in Australia and New Zealand is covered for damage, theft and accidental loss up to $10,000 through a general property insurance policy placed with leading insurance provider, CGU Insurance.*
  • LimitBike – $10,000. SUP and Kite – $5,000. Surf, Snow/Ski – $1,000
  • Insured: Quipmo, Owners and Renters
  • Excess: Bike, SUP and Kite – $250. Surf, Snow/Ski – $100

 We are constantly working to secure coverage for new locations so watch this space!

 

How does this actually work?

*Example 1 – Partial Damage

A bike is hired and the Renter crashes into a tree which causes the carbon front wheel worth $1,000 to be damaged requiring replacement.
The Quipmo Rental Agreement makes allowance for a buckled wheel at an $80 contribution by the Renter.
Insurance: Bike excess is $250.
Where a valid claim is made, Insurance would provide coverage of up to $1,000 less the $250 excess.

*Example 2 – Total Loss

A two year old surfboard is hired and it snaps during a surf from a wave breaking on it.
The basis of loss settlement is replacement on a like for like basis, not new for old.
The Quipmo Rental Agreement makes allowance for total loss of a Surfboard at a $100 contribution by the Renter.
Insurance: Surf excess is $100.
Where a valid claim is made, Insurance would provide coverage to replace the surfboard on a like for like basis less the $100 excess.

 

*Please note the above are summaries of Quipmo’s Public Liability and General Property Insurance policies ONLY. Nothing contained herein is general or personal advice. Furthermore, it is declared and agreed that nothing contained in these summaries should be understood to be an express or implied condition, term or exclusion which forms part of the Insurer Policy terms and conditions or be relied upon in the event of a Claim. Please contact Quipmo for access to the Insurance Policy Schedule and/or Policy Wording for information as to the specific coverage, terms, conditions and exclusions afforded by the Insurers in the event of an incident, occurrence or Claim. Please also note that each claim is subject to an Excess payable by the Quipmo user.