Owner Guarantee

We work hard to keep the Borobear community a safe place to rent. Every item is insured, and all users need to go through a secure verification process before renting. If your items are damaged or lost in Borobear, you can rest assured that you will be covered up to RM3,000 in compensation.

Free for every owner, every time
Whenever a renter makes a reservation, you're automatically protected by our Owner Guarantee.

Caring and comprehensive
Up to RM3,000 of liability protection, if you ever need it. We stand by our owners with protection.

What's covered?

Insurance may cover:

  • Item lost/stolen
  • Damage to your belongings

Insurance doesn’t cover:

  • Real estate (e.g. houses for rent)
  • Chemicals, liquids, or any consumables
  • Wear and tear (e.g. small dents, scratches, etc)
  • Public liability

About Insurance

 

The essentials

If you have your own commercial insurance, you will be required to claim it before you claim on the Borobear guarantee. If your commercial insurance will not cover it, or your claim is rejected for any reason, you can claim on the Borobear guarantee.

Your items are guaranteed up to the value you paid for them (on your proof of purchase). It is at Borobear’s discretion whether we pay out the value, or organize a replacement item, but we’ll always try and please.

Please also note that we don’t guarantee late fees. However, if a renter returns your item late, and doesn’t voluntarily pay for it, we will do everything we can to recover those fees on your behalf.

There are a few exclusions:

  • Real estate (eg. houses or land).

  • Chemicals, liquids, or any consumables.

  • Weapons (obviously!).

  • Wear and tear – minor superficial or cosmetic damage that does not affect the functionality of the item,e.g. small dents, scratches etc.

  • Public liability.

Are you eligible?

To be eligible you must be able to answer the following statements truthfully:

  • You are the person who created and verified the account on Borobear which rented out the item in question.

  • I have not been convicted of, or charged with, any offence other than motoring offences in the past 5 years.

  • I have never had insurance cancelled, refused or declined or had any special terms imposed.

  • I have not made more than 2 insurance claims in the past 5 years.

What do you need to do before and after the rental?

Make sure you do the following:

  • Take photos or a video of your item before it goes out on rent (within 24hours of the rental start date). These need to be timestamped so we recommend taking them on a smartphone where timestamps are automatically recorded.

  • If your item has a core function you need a video of this working. Eg. if it’s a drone – a video of it flying. Or if it’s a mixer – a video of it in action where we can hear the sound. This way if there is no external damage but it stops working you can prove it was working immediately prior to the rental. And equally, if you believe that the item has been damaged during the rental, please make sure to document that by photos or videos taken/recorded within 24hours from when its been returned.

  • If your item is returned damaged you must notify us within 24 hours of the end date of the rental.

  • If your item hasn’t been returned on time or has been returned damaged you must notify the Borobear Customer Service Team within 24 hours of the end date of the rental via instant chat or phone call.

  • Make sure all items you give the renter are mentioned in the listing. If they’re not in the listing, they’re not guaranteed.

  • Make sure you can locate the proof of purchase for your items, these will be required for successful claims.

  • Most often it’s quicker and cheaper if you and the other party are able to resolve the issue directly between yourselves. But don’t worry if not, our dedicated Resolutions Team will be able to mediate the dispute on your behalf.

More questions? Check out the guarantee FAQs:

Guarantee FAQ